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Forexpros.com Daily Analysis - 28/05/2009
Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts :: Your first category :: Forex News ( Fundamentals) Forum
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Forexpros.com Daily Analysis - 28/05/2009
ForExPros.com Daily Analysis -- May 28, 2009
[You must be registered and logged in to see this link.] Breaks Recent Lows
The pair fell through the May 26 swing lows. This is not too significant at this point, but when London opens, failure to test and hold above this 1.3870 level would set a short term negative tone.
A break below 1.3800 put initial targets at 1.3750 and if broken, 1.3650.
If pair does move back above 1.3870, the 1.3900 area should provide some resistance and beyond that 1.4000 1.4050.
Watch for economic news out of the US starting at 1200 GMT.
[You must be registered and logged in to see this link.] Early Surge
The pair surged early gaining over a 100 pips. Expect resistance at 96.60-96.80. A move above this area would target 97.15 and beyond 97.65.
If prices retreat, a support area should be found between 95.80-95.60. Beyond, 95.20 and 94.90, although these level are unlikely.
Analysis by: [You must be registered and logged in to see this link.] - Written by Cory Mitchell
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.
[You must be registered and logged in to see this link.] Breaks Recent Lows
The pair fell through the May 26 swing lows. This is not too significant at this point, but when London opens, failure to test and hold above this 1.3870 level would set a short term negative tone.
A break below 1.3800 put initial targets at 1.3750 and if broken, 1.3650.
If pair does move back above 1.3870, the 1.3900 area should provide some resistance and beyond that 1.4000 1.4050.
Watch for economic news out of the US starting at 1200 GMT.
[You must be registered and logged in to see this link.] Early Surge
The pair surged early gaining over a 100 pips. Expect resistance at 96.60-96.80. A move above this area would target 97.15 and beyond 97.65.
If prices retreat, a support area should be found between 95.80-95.60. Beyond, 95.20 and 94.90, although these level are unlikely.
Analysis by: [You must be registered and logged in to see this link.] - Written by Cory Mitchell
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.
ForexAnalysis-
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Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts :: Your first category :: Forex News ( Fundamentals) Forum
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