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

Forexpros.es Analisis Forex - 04/08/2009

Discussion in 'Market Predictions and Reports' started by Forexpros04, Aug 4, 2009.

  1. Forexpros04

    Forexpros04 Forexpros Representative

    Jan 27, 2009
    Likes Received:
    Forexpros.com Daily Analysis - August 4, 2009

    Free, Live Forex Webinar!

    Mastering Risk in Forex
    Hosted by: Tony Beckwith
    Date: Thu, Aug 6, 2009, 15:00 GMT

    Tony Beckwith of risk control trading software specialist MTP redictor shows how you can control the two main types of risk in trading – probability risk and money risk – to come out ahead.

    Click HERE to register and watch for free!



    The EUR gained again yesterday exploding above the 1.4350 resistance level from a couple months ago. A retest of this level as well as 1.4300 is highly likely over the next week, but we will need to see how much steam is left on the upside.

    A push above 1.4450 would signal another swing higher and a target of 1.4600.

    Minor support is expected at 1.4320 and 1.4260. Further support is just above 1.4200. 1.4300 is important, and should also be watched, as a sizable penetration back below indicates that the breakout higher was potentially false.



    The USD did recoup some ground against the JPY yesterday, but has been mixed in early trading today.

    Resistance is at 95.50 with a move above likely to target the swing highs at 95.90. Resistance beyond is at 96.10.

    Support is at 95.10, and a break below will target 94.60-94.50.

    Forex Analysis by: ForexPros - Written by Cory Mitchell

    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.
    - Bringing you live news, analysis advanced charts and quotes.
    Check out our new and improved
    Technical Studies Section.

Share This Page