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Forexpros.com Daily Analysis - 07/07/2009

Discussion in 'Market Predictions and Reports' started by Forexpros04, Jul 7, 2009.

  1. Forexpros04

    Forexpros04 Forexpros Representative

    Jan 27, 2009
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    EUR/USD for July 7

    Push above 1.3990 would be an early signal of bullishness. A move above 1.4000 would confirm. Resistance is at 1.4020, 1.4040 and 1.4100

    A drop below 1.3940 indicates weakness and a test of the recent lows near 1.3880 would come into play. Support is also just above this at 1.3900.

    USD/JPY Bias Up

    Strong finish yesterday put the pair in a bullish spot, yet it still has to climb above a resistance area around 95.40. If it can, resistance is beyond at 95.60, 95.80 and 96.10.

    Failure to really push above 95.40 will likely encounter some minor support at 95.10, 94.90 and 94.70 as the pair pulls back. A drop below that level is unlikely but support beyond is 94.45.

    Analysis by: http://www.ForexPros.com - Written by Cory Mitchell

    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.
  2. Nancy Cheah

    Nancy Cheah Sergeant

    Apr 10, 2009
    Likes Received:
    I'm still looking at it to close as close to 1.42 as possible.
    #2 Nancy Cheah, Jul 9, 2009
    Last edited: Sep 5, 2011

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