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ForexPros Daily Analysis December 22, 2010
Today: Free webinar on ForexPros - Forex for Beginners
Expert: Karen Kizer
Start: Mon, Jan 3, 2011, 10:00 ET
End: Mon, Jan 3, 2011, 11:00 ET
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market.
The webinar will cover:
- forex basics
- trading analysis
- fundamental analysis
- making trades with market trader platform
Click here to join free
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Euro Dollar:
On the daily, the euro has found support at full half way back at 1.30742, but is still technically in a short setup, with a target at 1.27715. On the daily, the daily 2 day half way back is at 1.3137, and the euro is still respecting this setup.
On the 15 min chart, the two-day halfway back is at 1.31368. The line in the sand for bullish or bearish is at 1.3152. The next 50% resistance level is at 1.32153 from Friday's highs to today's lowest.
Pound:
The pound has been leading the charge on the shorts and is marching towards its target at 1.52892.
On the 15 min chart, pound is currently being held down by the daily pivot at 1.549. Full half way back since Tuesday's highs is at 1.54995 and line in the sand is at 1.5515.
Yen:
Still in a range on the daily between 50% long at 82.345 and 50% short at 84.592. The 50% half way back of last move in the range at 83.667 still holding yen, but it is trending lower. Next major support at full half way back of range at 83.319, though half way backs cannot be trusted in a range.
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Forex Trading analysis written by Diana Rochford for Forexpros.
---
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.
Today: Free webinar on ForexPros - Forex for Beginners
Expert: Karen Kizer
Start: Mon, Jan 3, 2011, 10:00 ET
End: Mon, Jan 3, 2011, 11:00 ET
Ready to get started in the Forex market? Join us for an introduction to currency trading and discover the opportunities that exist in the world's most traded financial market.
The webinar will cover:
- forex basics
- trading analysis
- fundamental analysis
- making trades with market trader platform
Click here to join free
---
Euro Dollar:
On the daily, the euro has found support at full half way back at 1.30742, but is still technically in a short setup, with a target at 1.27715. On the daily, the daily 2 day half way back is at 1.3137, and the euro is still respecting this setup.
On the 15 min chart, the two-day halfway back is at 1.31368. The line in the sand for bullish or bearish is at 1.3152. The next 50% resistance level is at 1.32153 from Friday's highs to today's lowest.
Pound:
The pound has been leading the charge on the shorts and is marching towards its target at 1.52892.
On the 15 min chart, pound is currently being held down by the daily pivot at 1.549. Full half way back since Tuesday's highs is at 1.54995 and line in the sand is at 1.5515.
Yen:
Still in a range on the daily between 50% long at 82.345 and 50% short at 84.592. The 50% half way back of last move in the range at 83.667 still holding yen, but it is trending lower. Next major support at full half way back of range at 83.319, though half way backs cannot be trusted in a range.
---
Forex Trading analysis written by Diana Rochford for Forexpros.
---
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.
