Forexpros Daily Analysis - 27/01/2011


ForexPros Daily Analysis January 27, 2011

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Euro Dollar:

The euro continues in measured moves long. The ruo bounced off its next measured move long at 1.36392, with a target at 1.37396, with coincides with 61.8% target from longer term longs from 1.32404 and 1.3547.


On the daily, the pound bounced off (frontrun) it next bullish setup at 1.57328, with a target at 1.2138. The 61.8% of the next short at 1.59379, is acting as resistance.


On the daily, the 61.8% on the long at 81.971 is acting as support. The yen is within a larger short from 84.592, which has a target at 78.227, which would be an all time low. Previous lows at 80.9 and 80.2 may act as support.


Forex Trading analysis written by Diana Rochford for Forexpros.


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