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Forexpros.com Daily Analysis - 12/05/2009

Discussion in 'Fundamental Analysis' started by ForexAnalysis, May 12, 2009.

  1. ForexAnalysis

    ForexAnalysis Contributing Member

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    EURO/USD - Volatile moves expected to lead to further rise
    EURO/USD made the expected correction yesterday. Today it has formed the high (1.3616) and low (1.3564) during early Japanese session. It is expected to make volatile moves to cut the low and go below during European session to the expected area of 1.3500 and then rise from late European session to go above the high to the area of 1.3650 and above. Quick drops are buy opportunities during European session to book profit during US session quick rise.

    GBP/USD is expected to swing and rise
    GBP/USD made the expected correction yesterday. Today it has formed the high (1.5140) and low (1.5076) during early Japanese session. It is expected to make volatile moves to cut the low and go below during European session to the expected area of 1.5030 and then rise from late European session to go above the high to the area of 1.5250 and above. Quick drops are buy opportunities during European session to book profit during US session quick rise.

    Analysis by: http://www.Forexpros.com - Written by Dr. Sivaraman


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