1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forexpros Daily Analysis - 06/12/2010

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Dec 6, 2010.

  1. forexpros2

    forexpros2 Member

    Joined:
    Oct 20, 2009
    Messages:
    334
    Likes Received:
    0
    ForexPros Daily Analysis December 06, 2010


    Euro:

    Daily: Euro is reacting to 50% short at 1.3378 (line in sand 1.34749, with target at 1.27715 ). See if it holds. The only other major resistance level is the full half way back at 1.36192.

    Last week, euro bounced off half way back at 1.30742, with target at 1.4838.

    15min: Broke series of measured moves long, after reacting to 50% short at 1.337. Extension long at 1.3295.

    Daily Pivot: 1.33465

    ---

    Pound:

    Daily: Pound is reacting to half way back at 1.57891 (line in sand at 1.58608), after reacting off support at 1.55206.

    On 15min:

    Has broken its measured moves long after reacting to short at 1.57891. Daily pivot at 1.57139. Extension long at 1.57276. Full half way back at 1.56487.

    ---

    Yen (USD/JPY):

    Daily: Yen front run its 50% half way back at 82.345 (line in the sand 81.855) with a target at 85.592. Inside larger short at 84.592 with target at 78.227.

    ---


    Forex Trading analysis written by Diana Rochford for Forexpros.

    ---

    New on Forexpros the
    Forex Brokers Directory!

    ---

    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.
     
Loading...

Share This Page