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

Forexpros Daily Analysis - 08/03/2011

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Mar 8, 2011.

  1. forexpros2

    forexpros2 Member

    Oct 20, 2009
    Likes Received:
    ForexPros Daily Analysis March 08, 2011

    Free webinar on ForexPros - High Probability Forex Trading Using Strength/Weakness Pairings

    Expert: James Chen

    Start: Wed, Mar 9, 2011, 10:00 ET
    End: Wed, Mar 9, 2011, 11:00 ET

    Learn from James Chen, Chief Technical Strategist with FX Solutions, as he teaches one of the highest probability approaches to trading in the forex market – strength/weakness pairings on multiple timeframes.

    Click here to join free


    Euro Dollar:

    On the daily, the euro is still in a extension long at 1.39627, with a target at 1.40686. The long is broken at 1.3946. The next traditional long is at 1.3889.
    On the 15 min chart, the euro is still in daily long setups and is bouncing off its 50% extension long at 1.3962, with a target at 1.407. The longs are broken at 1.39447. The next traditional long is at 1.3935.


    On the daily, the pound bounced its traditional long at 1.61858, with a target at 1.64141. The long setup breaks at 1.61858.

    On the 15 min chart, the pound bounced off its next 50% long at 1.61857, with a target at 1.64149. The long is broken at 1.6149.


    On the daily, the yen is in a range bouncing between a short at 84.093 and an upward trend line connecting the lows. The yen reacted off its next short within the range and reversed at the 61.8% line at 83.047, with a target at 80.998. Setups within a range are unreliable.


    Forex Trading analysis written by Diana Rochford for Forexpros.


    Get the most updated Forex News!


    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.

Share This Page