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Forexpros Daily Analysis - 07/12/2010

Discussion in 'Market Predictions and Reports' started by Forexpros2, Dec 7, 2010.

  1. Forexpros2

    Forexpros2 Recruit

    Oct 12, 2009
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    ForexPros Daily Analysis December 07, 2010

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    Euro and Pound Longs are still holding but half way back shorts acting as resistance. Best to let market confirm which direction it wants to go.


    On daily, 50% short at 1.33777 acting as resistance.

    On 15 min, currently bouncing off long at 1.32479, with target at 1.35276, as a continuation of measured moves long of the past week. Short at 1.33419, acting as resistance, though we are above daily pivot of 1.33229, which may hold market up.


    Pound: Between short of 57891 and long of 1.5649.

    On 15 min, bouncing off 50% at 1.56487. Needs to break 1.58536 to confirm long. Daily Pivot at 1.57139.



    On daily, reacting off 50% at 82.345.


    Forex Trading analysis written by Diana Rochford for Forexpros.


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