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Forexpros.com Daily Analysis - 03/01/2011


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#1
forexpros

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ForexPros Daily Analysis January 03, 2011


Today: Free webinar on ForexPros - Strategy Rules for Short Term Forex Trading

Expert: Sam Seiden

Start: Thu, Jan 6, 2011, 10:00 ET
End: Thu, Jan 6, 2011, 11:00 ET

During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market. After we go over these rules, we will go into the live market and apply them.


Click here to join free

---

The euro and pound suspiciously look to have fallen into the holiday reversal trap, where prices are pushed against the trend in lower volumes to allow for better entries into the wider trend. As such, both the euro and the pound tapped their greater 50% shorts and are currently reacting to them and dropping nicely.


Euro Dollar:

The euro looks to have created a range between its full half way back from June at 1.30742 and its 50% short at 1.33777 (1.343 acting as strong resistance.) The greater trend is still short, with 1.347 being the line in the sand.

Pound:

The pound continues in its orderly measured moves short and has reacted off its next short at 1.56273, with a target at 1.52104. Next major support is at the half way back from May at 1.52622.

Yen ( USD/JPY):

On the daily, still in extension short from 84.592 and has been moving steadily towards its target of 78.227, which would be an all time low. Next major level of support is previous low of 80.234.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#2
forexpros

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ForexPros Daily Analysis January 05, 2011


Today: Free webinar on ForexPros - Strategy Rules for Short Term Forex Trading

Expert: Sam Seiden

Start: Thu, Jan 6, 2011, 10:00 ET
End: Thu, Jan 6, 2011, 11:00 ET

During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market. After we go over these rules, we will go into the live market and apply them.


Click here to join free

---


Euro Dollar:

On the daily, the euro reacted to the third test of the 50% short at 1.33777, with a target at 1.27715. On Sunday/Monday the euro front run the half way back long at 1.32379 and this is the next main line of support.

On the 15 minute chart, the euro is on measured moves short. The euro front run the extension short at 1.3334 and has hit its target at 1.32705. Next 50% short is at 1.32934, with a target at 1.32485.

Pound:

On the daily, the pound is in measured moves short and has reacted off its second test of the short at 1.56273, with a target at 1.52104.

On the 15 minutes chart, pound is in measured moves short. Full half way long from most recent low is at 1.55036.

Yen:

On the daily, the yen bounced off support that ran back to April 1995 just after it hit its all time low. The test will be on the half way back short of the current move at 82.719 (with a target at 80.068) just below the recent low at 80.234.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#3
forexpros

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ForexPros Daily Analysis January 10, 2011


Today: Free webinar on ForexPros - Trading Bull Spreads on Currencies

Expert: Dan Cook

Start : Mon, Jan 10, 2011, 10:00 ET
End : Mon, Jan 10, 2011, 11:00 ET

Have you ever felt like the forex market has eyes? It can somehow find your stop, just before it changes direction and moves in what would have been your favor. As a result, have you struggled with risk management and where to place a proper stop? Have you placed an order to buy or sell in what seemed like calm markets only to watch volatility spike and price whipsaw you right out of your trade while slipping your stop?

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FX Bull Spreads are an exchange traded product that offers the benefits of effective leverage while allowing the trader exacting risk control measures. Additionally, since these are limited risk, options type contracts, traders do not have to worry about placing stops that could be taken out by a quick adverse market movement and thus afford themselves the time to be right.

During this 45-minute webinar, Dan Cook of IG Markets will introduce participants to the basics of the FX Bull Spread Product. Dan will explain how these simple contracts work and how they may compliment your current trading strategy or how they may even become the focal point of your trading strategy moving forward. Once the basics are covered, Dan will present a few strategies designed to utilize the unique structure of the FX Bull Spread product and will demonstrate how these strategies can be used in both calm and volatile markets.


Click here to join free

---


Euro Dollar:

On the daily, the euro has been heading south from its 50% short at 1.33777, towards its target at 1.27715. The euro has hit resistance at the 1.29 level.

On the 15 min chart, the euro is still in shorts. The 50% of the next traditional short is at 1.29457 which coincides with the daily pivot at 1.29435, together they may provide resistance and hold the market down. The target on the short is at 1.28376.

Pound:

On the daily, the pound is in measured moves shorts with the next targets at 1.52892 and 1.52104.
Over the past week, its been in messy setups, breaking its long and short setups. Best to let increased volume allow the pound to decide what direction it wants to go in.

Yen ( USD/JPY):

On the daily, the yen is still in a bullish formation, an extension long from 82.273, with a 50% at 82.984, with a target at 84.029. The 83.6-83.7 has served strong resistance in the past 2 months. The bigger 50% short is above at 84.592.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#4
forexpros

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ForexPros Daily Analysis January 12, 2011


Tomorrow: Free webinar on ForexPros - 2011 Forecast

Expert: Nour Eldeen M. Al-Hammoury

Start: Thu, Jan 13, 2011, 09:00 ET
End: Thu, Jan 13, 2011, 10:00 ET

In this webinar, we will review the 2010 global economy and the markets, and will put in our forecast for the markets and the global economy for 2011. We will also speak about US Dollar against majors and will also put in our forecast for Commodities and Emerging Markets.


Click here to join free

---


Euro Dollar:

On the daily, the euro bounced off a support line from April 2009. The euro is between a long at 1.30742, with a target at 1.4838 and a 50% short at 1.33777, with a target 1.27715.
The euro has moved towards it short target but has found resistance at 1.287-1.292 which has acted as support and resistance many times in the past 2 years.

Pound:

On the daily, on the larger timeframe still in a short from 1.56273, with a target of 1.52104. The pound is testing the setup for the third time.
In the short term, the pound is in long setups and in the past week has bounced off its 50% long for the week at 1.55222, with a target at 1.56938, which coincides with the 61.8% line of the short the pound is currently in.

Yen:

On the daily in a traditional long at 82.649, with a target of 84.187, inside a greater short at 84.592 with a target at 78.227.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

Get the latest
Forex News from the currency market!

---

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.


#5
forexpros

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ForexPros Daily Analysis January 13, 2011


New On Forexpros - All
European Markets in one place. In this section you'll be able to find stocks in real time for the European countries.

---


Euro Dollar:

On the daily, the euro surged today and hit some resistance at the 50% traditional short at 1.31478, with a target at 1.27343. We will see if it acts as significant resistance and the euro continues in its short daily trend.

Pound:

On the daily, the pound broke its short setups and hit its 61.8% target of the 50% long it was in from 1.55222. The full half way back short of the whole short trend from November is at 1.58204, where the pound can be expected to encounter some resistance. The daily short trend is only broken at 1.5933, so it remains to be seen if today's surge was a sign of things to come or just a move back into the next short setup.

Yen:

On the daily the yen is in a long setup from 82.649, with a target at 84.187 currently in a range between the 50% long and the 83.4-83.5 area. Larger short above at 84.592, which was tested in November/December 2010, with a target at 78.227.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

Get the latest
Forex News from the currency market!

---

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.


#6
forexpros

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ForexPros Daily Analysis January 17, 2011


New On Forexpros - All
European Markets in one place. In this section you'll be able to find stocks in real time for the European countries.

---

Volume will be very low today since US markets are closed for Martin Luther King day. Futures and equities markets are closed which will affect trading setups. Analysis today is of the overall trend.
Low volume leads to less reliability in trading setups.


Euro Dollar:

In the past 2 weeks, the euro dropped 400 pips and then rebounded 400 pips and is back at the initial 50%. Taking the new low into account, the euro clipped its 61.8% and reacted. The euro is currently in an extension long, best seen on the 15 minute chart.

On the 15 minutes chart, the euro is in a series of long measured moves, an extension long, from 1.3314, with a target at 1.35249. The line in the sand is at 1.32802. The full half way back of the long move is at 1.31655, with the 61.85 at 1.30966.

Pound:

The pound is still inside its 50% short at 1.58204 and running into previous highs at 1.591. The line in the sand for the short is at 1.5933. The short has a target at 1.51181.

On the 15 minutes charts, the pound is still in a series of measured moves long and is bouncing off its 50% at 1.58479. The line in sand is at 1.5838.

Yen:

On the daily, the yen is still in a long setup. On Thursday, the yen bounced of its 61.8% line at 82.402. The full half way back is close at 82.304, with a target at 84.35. Line in the sand for break of the longs is at 81.976.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

Get the latest
Forex News from the currency market!

---

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.


#7
forexpros

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ForexPros Daily Analysis January 19, 2011


Free webinar on ForexPros - Strategy Rules for Short Term Forex Trading

Expert: Sam Seiden

Start: Thu, Jan 20, 2011, 10:00 ET
End: Thu, Jan 20, 2011, 11:00 ET

During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market. After we go over these rules, we will go into the live market and apply them.


Click here to join free

---

Euro Dollar:

On the daily, the euro is in an extension long and has bounced of its 50% long at 1.324, and has a target of 1.35647. This coincides with the greater 50% short at 1.35734, with a target at 1.25385. Former high of 1.35027 may serve as resistance.

In measured moves long best seen on the 15 min chart. Currently bouncing off its 50% long at 1.33583, with a target at 1.35189.

Pound:

The pound has had an even stronger surge than the euro and is ripping through September highs. The pound has clearly broken its short setup and its target from the 50% long at 1.52622 is a whopping 1.67949. The pound may find resistance at these levels, which coincide with previous highs in August and October as well as resistance at the previous high at 1.63.

On the 15 min chart, the pound is in steady measured moves long since Jan 11. It has bounced off its 50% at 1.59335 and has a target at 1.61167, though it has yet to break previous high at 1.60588.

Yen:

On the daily, the yen has been in steady measured moves short, and hit its target at 23.6%.
A 50% long at 82.304 is still acting as support but the yen broke through today.
The line in the sand that would confirm the short is 81.976.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#8
forexpros

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ForexPros Daily Analysis January 20, 2011


Today: Free webinar on ForexPros - Strategy Rules for Short Term Forex Trading

Expert: Sam Seiden

Start: Thu, Jan 20, 2011, 10:00 ET
End: Thu, Jan 20, 2011, 11:00 ET

During this session, we will cover a simple set of rules that anyone can use for short and long term trading in the Forex market. After we go over these rules, we will go into the live market and apply them.


Click here to join free

---

The euro and pound are showing possible reversal patterns best seen on the 15 minute chart.


Euro Dollar:

On the 15 min, the euro is showing a possible reversal and is testing its long setup, breaking the trend of the past weeks. A break of 1.3425 is a break of the long the euro has been in. This may only be a reversal into the next long setup, but the play the trend as it lies. Currently the daily pivot at 1.3459 is holding down the market.

Pound:

On the 15 min chart, the pound is below the daily pivot testing its long and is showing a reversal pattern. The pound is in its second measured move short . A break of 1.59035 confirms the break of the long the pound has been in for the last 2 days. Technically on the daily the pound is still long, but this may reversal into next long setup. Always play the trend.

Yen:

On the daily, the yen is confirming its short, by breaking though its 61.8% at 81.976, though the line is currently acting as resistance. Will the yen march down to new lows or will we see a bounce here?

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#9
skylady

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Anything new on the RV of the Iraqi Dinar yet ???


Supposed to be happening any time now...

Visual it being so...
And it shall be...


#10
forexpros

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ForexPros Daily Analysis January 24, 2011


Today: Free webinar on ForexPros - Improve Your Edge: Use the Power of Market Profile and Wyckoff!

Expert: Ramon Barros

Start: Mon, Jan 24, 2011, 08:00 ET
End: Mon, Jan 24, 2011, 09:00 ET

Richard D Wyckoff brought the power of principle, volume and range to trading.
Peter J Steidlmayer expanded this circle and added to the Wyckoff legacy.

In this presentation, we look under the hood to discover:

* why so many traditional technical tools fail to deliver on their promise,
* the principles we need to apply to succeed and
* a change robust and reliable pattern that we can use in continuation and change
in trend trades


Click here to join free

---


Euro Dollar:

On the daily, the euro is in measured moves long, and has met the target at 1.3617 from its latest long at 1.3392. The next 50% in the series of measured moves is at 1.35478, with the line in the sand for longs and shorts at 1.35243.
The euro is currently testing its larger short setup at 1.35802, with a line in the sand at 1.37448.

Pound:
On the daily, the pound is in a long setup at 1.58609, with a target at 1.61506.

Yen:
On the daily, the yen is in a long setup bouncing off the 50% at 82.486, with a target at 83.427. Both the larger long and short setup are broken, which makes it hard to ascertain what direction is moving in, other than it is within a larger short from 84.592 and its bouncing off support from April 1995 and its creating a downwards facing wedge.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#11
forexpros

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ForexPros Daily Analysis January 25, 2011


Free webinar on ForexPros - Technical Analysis:Elliot Wave Basics

Expert: Mark Dela Paz

Start: Wed, Feb 2, 2011, 10:00 ET
End: Wed, Feb 2, 2011, 11:00 ET

Before mathematicians started applying a chaos theory to financial markets, technical analysts have been using fractal geometry to identify, classify, and anticipate financial markets. Learn and explore Elliot Wave Theory and how it can be used for assesing market conditions.


Click here to join free

---


Euro Dollar:

On the daily, the euro is in measured moves long, from 50% at 1.36148, with a target at 1.3726.
The euro has been in measured moves long from January 10.

On the 15 min chart,we can see the euro in long measured moves.

Pound:

On the daily, the pound is in a long setup from 1.59688, with a target at 1.60409. The target from the greater long at 1.58609, is 1.61505.

On the 15 min chart, we can see the pound in measured moves long, with the 50% at 1.59674 backed by the daily pivot at 1.59733. If this fails at 1.59561, we can expect the pound to go back to its next 50% long at 1.5926.

Yen:

On the daily, the 61.8 is acting as support but the yen is in measured moves short. A definitive break of the 61.8% line at 82.336 would be a strong confirmation of the short. Yen is between two broken setups of a long and short but within a greater short. Previous April 1995 support though holding up market.

---


Forex Trading analysis written by Diana Rochford for Forexpros.

---

New on Forexpros the
Forex Brokers Directory!

---

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.


#12
forexpros

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    Advanced Money Maker

  • Members
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ForexPros Daily Analysis January 27, 2011


Free webinar on ForexPros - Technical Analysis:Elliot Wave Basics

Expert: Mark Dela Paz

Start: Wed, Feb 2, 2011, 10:00 ET
End: Wed, Feb 2, 2011, 11:00 ET

Before mathematicians started applying a chaos theory to financial markets, technical analysts have been using fractal geometry to identify, classify, and anticipate financial markets. Learn and explore Elliot Wave Theory and how it can be used for assesing market conditions.


Click here to join free

---


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.

Pound:

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.

Yen:

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.

---

New on Forexpros the
Forex Brokers Directory!

---

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.