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

Forexpros Daily Analysis - 31/05/2011

Discussion in 'Market Predictions and Reports' started by Forexpros2, May 31, 2011.

  1. Forexpros2

    Forexpros2 Recruit

    Oct 12, 2009
    Likes Received:
    ForexPros Daily Analysis May 31, 2011

    Free webinar on ForexPros - My Top Strategy For Trading The Forex Markets

    Expert: Steve Primo

    Start: Thu, Jun 2, 2011, 09:00 EST
    End: Thu, Jun 2, 2011, 10:00 EST

    Steven Primo is a former Stock Exchange Specialist as well as a 34 year veteran of the markets. In this webinar he will share with you his proprietary concepts and techniques that are designed to capture consistent gains in the Forex Markets. Steven will also explain how to properly apply these methods so that you can elevate your trading to the next level. All of Mr. Primo’s techniques can be applied to the Forex markets in any direction and in any time frame.

    Click here to join free


    Euro, Pound In Unrelenting Long Setups. Yen at Resistance


    On the daily, the euro is in consistent measured moves long and decisively broke the short setups its been in the past months. The next point of resistance may be the traditional half way back short at 1.44547, but best to see the reaction given the euro's strength.

    On the 15 minute chart, the euro's measured moves longs are clear. The next extension long is at 1.43632 (line in sand 1.43534) and full traditional long is at 1.43298 (line in sand at 1.43122).


    On the daily, the pound is in steady longs since bouncing off its 50% at 1.60446, with its target at 1.70766.


    On the daily, the yen has come into resistance at its half way back long within the range at 80.88, with a target at 82.871. The yen is still closer to the bottom of its range. Resistance should be expected around 79.527.


    Forex Trading analysis written by Diana Rochford for Forexpros.


    New on Forexpros, the Currency Correlation Calculator !


    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