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Pattern, Price & Time Intra Day Forex Analysis

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Nov 10, 2009.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    EUR USD
    The EUR USD made a slightly higher high than yesterday but had virtually no follow-through to the upside. This market is now in a position to post a closing price reversal top which could lead to a 2 to 3 day break. A close under 1.4999 will set this pattern in motion. Downtrending Gann angle resistance is at 1.5008. Up trending Gann angle support is at 1.4745.
    GBP USD
    The GBP USD is under selling pressure this morning. Gann angle support is at 1.6506 which makes this market vulnerable to a sizeable correction. Based on the short-term range of 1.6842 to 1.6602, traders should look for resistance at 1.6722 to 1.6750.
    USD CAD
    The USD CAD is trading slightly better after yesterday’s sharp sell-off. The main range is 1.0205 to 1.0870. This makes the 50% price at 1.0522 an important downside target. Additional Gann angle support is at 1.0565. Downtrending resistance is at 1.0630.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.
     
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