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Forexpros.com Daily Analysis - 31/12/2009
Forexpros Daily Analysis Dec 31, 2009
Free webinar on Forexpros - Identifying Low Risk, High Reward, and High Probability Trading Opportunities For Short Term Forex Traders.
Expert: Sam Seiden
When: Thu, Jan 7, 2010, 12:00 EST
During this session, we will apply what we learned during session one to the world of active short term trading in the Forex markets. We will walk through the trade selection process, applying our rule based strategy to identify price levels where demand and supply are out of balance and where profit margins are large offering us significant risk/reward opportunities.
This webinar is the second of a three part series brought to you by Online Trading Academy and Forexpros.
to join free.
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[color=black]The Euro fluctuated, breaking 1.4308 first, then breaking 1.4380 and flying above 1.44. And as we can see, the price is currently trading inside a falling channel on the hourly chart, with the top of the channel at 1.4449. Thus, we will consider this level as resistance of the day. If broken, we will see 1.45 since the targets for such a break are 1.4502 first, and then the first Fibonacci retracement level for medium-term (38.2%) at 1.4596. To keep a positive outlook for the short-term, it is preferred that we don
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