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Forexpros.com Daily Analysis - 28/07/2009

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Forexpros.com Daily Analysis - 28/07/2009

Post by ForexAnalysis on Tue Jul 28, 2009 11:57 am

Forexpros.com Daily Analysis - July 28, 2009

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EUR/USD

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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USD/JPY

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.


Forex Analysis by: ForexPros- 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.


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ForexAnalysis

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