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

Forexpros Daily Analysis - 04/11/2010

Discussion in 'Market Predictions and Reports' started by Forexpros2, Nov 4, 2010.

  1. Forexpros2

    Forexpros2 Recruit

    Oct 12, 2009
    Likes Received:
    ForexPros Daily Analysis November 04, 2010

    Euro, Pound March Towards Long Target

    Fed day provided some volatility with Euro and Pound pulling back into their next long setups. Interest rate decisions in the euro area (8:45am est) and the UK (8am est) should provide additional volatility Thursday morning.



    Daily: Euro has just broke range. Not as convincingly as the pound. Marching towards target of 1.4355, from large 50% extension long at 1.3748. Extension longs like to run to their 61.8% line, in this case, 1.467. Still need to watch for real break from range.

    In 15 minutes, euro holding long at 1.4088, with target at 1.4225.



    Daily:Confirmed its long setups of 50% of 1.539 and 1.5704, with joint targets of 1.6299.

    15min: The pound is in its long setup 50% at 1.6079, and is currently being held up by daily pivot at 1.6068. Today the pound pulled back to next setup at 50% at 1.6024. targets at 1.6228, 1.6247.


    Still in short setups. In extension short at 81.52, with target at 79.55. A retracement would not be strange after hitting its yearly 21.3% target.


    Forex Trading analysis written by Diana Rochford for Forexpros.


    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