Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.
-
Instablogged Stocks
Stocks that instabloggers have most recently written about -
Latest Instablog Posts
-
1
World Titanium Resources To Update JV With S...
-
2
Peninsula Energy Appoints David Coyne Chief ...
-
3
Allied Healthcare To Start Landmark Clinical...
-
4
The Global Race For Shale Development Is On
-
5
Empire Oil & Gas Continues Gas Production At...
-
1
-
Top Instablogs
See all Top Instablogs »
Forexpros.com Daily Analysis - 28/07/2011 0 comments
EUR/JPY
The declines in Wall Street supported the USD against most of the major currencies. Both JPY & EUR were weakening against the US dollar, but the JPY is usually stronger than the EUR, so the EUR/JPY is more likely to slide than rise. The JPY is now dealing with the support at 112, and a break-down of yesterday’s low will complete a classic reversal pattern. The target would be the support at 110. The 20 EMA is resisting the EUR at 113.5, and a break-up there will be a positive signal for the Euro.
EUR/CHF
The reversal in Wall Street almost did not affect the CHF that continues getting stronger. Many investors see Switzerland as a stable and powerful economy and they feel safer to invest their money in the CHF when the markets are shaking. Therefore, most of the symbols that contain the Swiss currency tend to go with the CHF’s direction. A break-down of the support at 115.0 can take the price down to 114 and below. A break-up at 117 would be negative signal for the CHF against the EUR.
TIP:
When all currencies are weakening against the USD, you should try to find the weakest one.
---
Visit Forexpros new 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.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
Share this Instablog
Latest Followers
Posts by Themes