Free, Live Forex Webinar Tomorrow!

Live-Market Analysis and Trading Decisions

Hosted by: Dr.Sankaran Sivaraman

Date: Thu, Jul 23, 2009, 16:00 GMT

Dr. Sankaran Sivaraman will be discussing market timings, how to read the players' intentions, live-trading decisions in major currency pairs, and basic trading strategy.

Click HERE to register and watch for free!

------

EUR/USD Uptrend Remains:

After chopping trading yesterday the pair is still holding above some important support levels which indicates the pair is likely to continue higher.

Support is at 1.4160, 1.4140 and beyond that 1.4100. A break below 1.4100 is unlikely and would shift short-term bias downwards, but further support is at 1.4060.

Targets on the upside are yesterday's high at 1.4280 and beyond that 1.4330-1.4350.

---

USD/JPY A sharp fall mid day yesterday tested the 93.25 support level, with the rate bouncing since.

This has resulted in the short-term bias being down, with a test of the 92.75 level likely. A rise above 93.90 would negate that and indicate a rise to test 94.40-94.50.

Analysis by: Forex Pros - 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.