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Forexpros.com Daily Analysis - 10/02/2011

Euro Dollar:

On the daily, the euro bounced off the next 50% at 1.35489, with a target at 1.40019.
The short setup has been broken. Previous lows at 1.343 is acting as resistance.

Pound:

On the daily, the pound is meeting support and bouncing off 50% 1.60494, with a target at 1.63855, in its next measured move long. The pound may find resistance at previous high at 1.62942.

Yen:

On the daily, the yen has bounced off the trend line and then off the 50% long at 81.778, with a target at 82.778. The short the yen is in will be broken at 82.694.

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