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Forexpros.com Daily Analysis - 07/07/2009

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Forexpros.com Daily Analysis - 07/07/2009

Post by ForexAnalysis on Tue Jul 07, 2009 1:31 pm

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EUR/USD for July 7

Push above 1.3990 would be an early signal of bullishness. A move above 1.4000 would confirm. Resistance is at 1.4020, 1.4040 and 1.4100

A drop below 1.3940 indicates weakness and a test of the recent lows near 1.3880 would come into play. Support is also just above this at 1.3900.


Strong finish yesterday put the pair in a bullish spot, yet it still has to climb above a resistance area around 95.40. If it can, resistance is beyond at 95.60, 95.80 and 96.10.

Failure to really push above 95.40 will likely encounter some minor support at 95.10, 94.90 and 94.70 as the pair pulls back. A drop below that level is unlikely but support beyond is 94.45.

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

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.


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