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Forexpros Daily Analysis - 04/08/2011

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Aug 4, 2011.

  1. forexpros2

    forexpros2 Member

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    ForexPros Daily Analysis August 04, 2011


    Free webinar on ForexPros - One of My Top Emini Trading Strategies

    Expert: Steve Primo

    Start: Thu, Aug 11, 2011, 09:00 EST
    End: Thu, Aug 11, 2011, 10:00 EST

    Steven Primo is a former Stock Exchange Specialist, a 34 year veteran of the markets, and founder of Specialist Trading.com. In this webinar, Steven will share with you his concepts, techniques, and one of his favorite strategies for trading the Emini futures. Mr. Primo's tools are extremely simple yet versatile, and can also be applied to trading any market, in any direction and in any time frame.


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    Euro Battles For Trend, Pound Ranging, Yen Intervention?

    Euro:
    On the daily, the euro is between a long setup from 1.4187 with a target at 1.47 (line in the sand is 1.4385) and a short at 1.4338, with a target at 1.4047 (line in the sand at 1.4104). The battle for the trend.

    Pound:
    On the daily, the pound continues ranging between 1.6475 and its daily long at 1.6239, with the target at 1.6588. The line in the sand is at 1.6183. If the pound breaks the 61.8% it could signal a change in direction.

    Yen:
    The dangers of trading a currency that is hitting lows and whose government has a history of intervention. If it walks, talks and looks like intervention...
    On the daily, the yen hit an all time low Monday. A huge green candle may mean the Bank of Japan has intervened to stem further losses.

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    Forex Trading analysis written by Diana Rochford for Forexpros.

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    Visit Forexpros new Forex Brokers Directory !

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    Disclaimer:
    Trading Futures and Options on Futures and Cash Forex
    transactions involves substantial risk of loss and may not be suitable for
    all investors. You should carefully consider whether trading is suitable for
    you in light of your circumstances, knowledge, and financial resources. You
    may lose all or more of your initial investment. Opinions, market data, and
    recommendations are subject to change at any time.
     
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