ForexPros Daily Analysis January 25, 2011


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Euro Dollar:

On the daily, the euro is in measured moves long, from 50% at 1.36148, with a target at 1.3726.
The euro has been in measured moves long from January 10.

On the 15 min chart,we can see the euro in long measured moves.

Pound:

On the daily, the pound is in a long setup from 1.59688, with a target at 1.60409. The target from the greater long at 1.58609, is 1.61505.

On the 15 min chart, we can see the pound in measured moves long, with the 50% at 1.59674 backed by the daily pivot at 1.59733. If this fails at 1.59561, we can expect the pound to go back to its next 50% long at 1.5926.

Yen:

On the daily, the 61.8 is acting as support but the yen is in measured moves short. A definitive break of the 61.8% line at 82.336 would be a strong confirmation of the short. Yen is between two broken setups of a long and short but within a greater short. Previous April 1995 support though holding up market.

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Forex Trading analysis written by Diana Rochford for Forexpros.

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