Portal
 Index
 Memberlist
 Profile
 FAQ
 Search
Social bookmarking

Social bookmarking digg  Social bookmarking delicious  Social bookmarking reddit  Social bookmarking stumbleupon  Social bookmarking slashdot  Social bookmarking yahoo  Social bookmarking google  Social bookmarking blogmarks  Social bookmarking live      

Bookmark and share the address of forexgreenland - Forex forum,Forex training, Forex signals, Forex mgt accts on your social bookmarking website

Bookmark and share the address of Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts on your social bookmarking website


Forexpros.com Daily Analysis - 22/06/2009

View previous topic View next topic Go down

Forexpros.com Daily Analysis - 22/06/2009

Post by ForexAnalysis on Mon Jun 22, 2009 3:56 pm

Free, Live Forex Webinar This Week!

Sharpening Your Edge Series: Pivot Points
Hosted by: Andrei Pehar of Fx Knight
Date: Wed, Jun 24, 2009, 15:00 GMT

Discover one of the best-kept secrets of bank traders. Pivot points and their medians have long been a favorite of the biggest institutional players, and since they are the ones who move the markets, once you know the likely places for their pending orders, you also know the most likely levels for reversals. But too many traders calibrate their pivots incorrectly since they lack an understanding of their meaning and how the markets work.

In this webinar fund manager and trading coach Andrei Pehar will take you inside the world of institutional trading and show you step-by-step how to set up and use pivot points on the popular MetaTrader platform. Attendees will receive links to a free copy of MetaTrader so you can practice what you learned (on commodities and stocks, not just forex), free pivot indicator downloads, and other free webinars to help further your learning.


[You must be registered and logged in to see this link.]

---

[You must be registered and logged in to see this link.] Continues to Range

The pair is trading within a 120 pip range between 1.4000 and 1.3800 over the last couple trading days. This range has held in early trading. 1.3880 is initial support. A move below 1.3860 would confirm that break.

The overall target for that move is 1.3760, with interim support at 1.3820 and 1.3800. If prices move beyond 1.3760, there is support at 1.3740.

Resistance is likely in the 1.3740-1.3760 area. A move beyond indicates a test of the range highs near 1.4000. A break out today will encounter resistance by 1.4040 or 1.4080.


[You must be registered and logged in to see this link.] Approaches Break Point

The pair continues to fall in early trading, heading towards the 95.60 support level. A break of that level could trigger further selling.

A move below 95.60 will likely encounter support at 95.30. A move beyond could occur, but is unlikely as a further fall would exceed the pairs daily average range. Little support exists beyond this point though.

Upside resistance is at 96.30 and would test 96.50 if exceeded. A continued move above will hit resistance at the 96.85 area and 97.00.


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

Disclaimers:
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

Male
Number of posts : 135
Location : india
Reputation : 0
Points : 216
Registration date : 2008-11-03

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum