Forexpros.com Daily Analysis - 16/12/2009

[forexpros]

Forexpros Daily Analysis Dec 16, 2009


Free webinar on Forexpros - Identifying Market Turning Points With an Objective Set of Rules

Expert: Sam Seiden
When: Mon, Dec 21, 2009, 12:00 EST

The movement of price in the Forex markets is a function of an ongoing supply and demand equation. Opportunity exists when this simple and straight forward equation is out of balance. During this session, we will cover the basic yet important rules for identifying market turning points based on a rule strategy that quantifies real supply and demand in the Forex markets.
This webinar is the first of a three part series brought to you by Online Trading Academy and Forexpros.

to join free.

---

Commodities

Don't know what's happening now with the Gold and the Crude Oil?
Stay on top of commodities prices with a new Free Futures Prices section.
The quotes are available for a variety of futures such as Gold, Crude Oil, Silver, Copper, Brent and many more.
All commodities are organized in a user friendly layout in a real time streamer.

---



[color=black]The Euro broke the support 1.4621 and successfully reached both suggested targets 1.4566 & 1.4510. And then spent the time holding above 1.45, and that could lead to a correction of the last 5 waves down from 1.4683. If short-term resistance 1.4563 is broken, 1.4614 would be an ideal target for this correction, and at the same time the most important resistance. Reaching it could provide a good sell opportunity. But, if its broken, the price will gain enough strength to target 1.4667. As for the support, it is provided by the rising trend line from yesterday