Forexpros.com Daily Analysis - 28/07/2009

by ForexAnalysis Tue Jul 28, 2009 11:57 am

Forexpros.com Daily Analysis - July 28, 2009

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Working With Indicators
Hosted by: Mark de la Paz
Date: Tue, Jul 28, 2009, 14:00 GMT

How often have you heard of a great indicator to boost your trading, tried it, and end up disappointed? The ‘Working With Indicators’ module from the Forex 101 lectures at FXinstructor examines general rules on when and when not to use the different kinds of indicators. Learn the core concepts on how indicators are designed and basic questions to ask when facing an indicator you are not familiar with.

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The range continues.

Resistance is at 1.4300 and 1.4335-1.4350. There is little resistance beyond that and rates could surge if that level is surpassed.

Support is at 1.4220, 1.4200, 1.4175, 1.4120 and 1.4100.

Support is likely to be seen by the 1.4165 level, with 1.4120 and 1.4100 likely to provide support beyond.

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The pair did make a move higher yesterday above a prior swing high, and just fell short of the 95.40.

95.40-95.50 is a major resistance area. A break above indicates a swing higher. 96.00 and 96.40 are the targets (not necessarily today).

Support is at 94.90, 94.60 and 94.30. A sustained break back below of 94.60 would indicate short-term weakness.

[You must be registered and logged in to see this link.] ForexPros- Written by Cory Mitchell

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