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  • Forexpros.com Daily Analysis - 26/08/2011
    Euro In Long Wedge, Pound in Shorts, Yen Rebounding

    Be careful trading overnight ahead of Bernanke's speech at Jackson Hole Wyoming. Last year the same event sent the markets into a tailspin. So. Have your stops in. Remember that news events don't start new trends, they generally take trends to their targets. So, stay with the trend. Bernanke will be explaining the US interest rate policy. We already know rates will be staying low to 2013.

    Euro: 

    Talking of trends, hopefully Bernanke can bring some clarity to the euro. It is in a very choppy formation and still looks like a wedge, though on the daily, the euro continues in a long from 1.42883 with a target at 1.46285. This is not pretty though.

    On the 15 min chart, the euro is in a range. The next traditional short is at 1.4392, which coincides with the daily pivot at 1.4393. The target is at 1.4296.

    Pound: 

    On the daily, the pound broke its long setups and is in extension shorts since on the 15 min chart.

    On the 15 min chart, the pound is in an extension short at 1.6302, with a target at 1.624. The line in the sand is at 1.6312.

    Yen: 

    On the daily, the yen rebounded after hitting all time low 75.944 and is moving up into its next traditional short at 78.09, with a target at 74.93, which would obviously be another all time low. The break in trend is at 78.59.

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    Also, Visit our World Indices Page!

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    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.
    Aug 26 7:43 AM | Link | Comment!
  • Forexpros.com Daily Analysis - 23/08/2011
    Euro in Wedge. Pound in Longs. Yen Edging Lower

    Euro: 

    On the daily, the euro is between its short at 1.4388, with a target at 1.4334 and a long at 1.4288, with a target at 1.4629. Looking at the chart, the euro looks like to be in a wedge. Daily pivot is at 1.4368 may hold the euro up.

    Pound: 

    On the daily, the pound has retraced after hitting its long target at 1.6638 from the long at 1.6127. The pound is in a long, using 1.6253 as the anchor point. It has been acting as an anchor point on the way up. The 50% is at 1.6435, with a target at 1.6702. This is best seen on the 15 minute chart.

    Yen: 

    On the daily, after the yen hit a lower all time time at 75.944, it bounced back above its previous support at the previous lows at 76.3. The yen is still very much in a low setup and continues in a short from 80.925, with a target at 74.128.

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    Also, Visit our World Indices Page!

    ---

    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.
    Aug 23 6:37 AM | Link | Comment!
  • Forexpros.com Daily Analysis - 19/08/2011
    Euro, Pound Bouncing off Next Long, Yen Still Hugging Lows

    Euro: 

    On the daily, the euro spent the last couple of days in short setups into the next half way back long at 1.4285. This has a target of 1.4626. The trend break/line in the sand for this long is at 1.42307. If this breaks the longs are officially over, and it could signal a longer term range bound market. If the long carries through, there is little resistance to 1.49.

    Pound: 

    The pound continues in its march to its long target at 1.66421 from its long at 1.6129. However on the 15 min chart, the next long move has been broken. The next traditional long is at 1.6349.

    On the 15 min chart, the short is broken, and the daily long is holding at 1.64785, with a line in the sand at 1.6464.

    Yen: 

    The yen is still hugging lows. It wants to break through but there is support at the all time lows at 76.294. I know I sound like a broken record but be VERY CAREFUL trading here at lows since the Bank of Japan is known to intervene when the yen hits new lows. Have your stops in (like you always should).

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    Also, Visit our Stock Futures Page!

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    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.
    Aug 19 8:06 AM | Link | Comment!
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