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Forexpros Daily Analysis - 14/03/2011

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Mar 14, 2011.

  1. forexpros2

    forexpros2 Member

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    ForexPros Daily Analysis March 14, 2011


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    Euro Dollar:

    On the daily, the euro broke through its short setup after gapping up and it is on its way to hitting its target from its 50% long at 1.3747. The target is at 1.41731. The next major resistance is at the high at 1.40364.

    Pound:

    On the daily, the pound rebounded after hitting the 61.8% or 1.59743 of the long. The pound is currently in an extension short at 1.60935, with a target at 1.59158. The full traditional short is at 1.61591.

    Yen:

    On the daily, the yen spiked through the bottom of the range it has been in in the past 4 months. The importance now is whether it closes below the range. The next major resistance is the low of 80.234. The target of the 50% short at 84.093 is 78.412.

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    Forex Trading analysis written by Diana Rochford for Forexpros.

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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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