1-Investments in financial products such as-trading foreign exchange -FOREX- on margin carries a high level of risk, and may not be suitable for all investors, the high degree of leverage can work against you as well as for you, before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite,any investment should only be done with risk capital.
2-Prices rise and fall and my past performance is no assurance of future performance.
3-I have no warranties or guarantees for my recommendations ,so I'm not responsible for any losses caused by them, you are free to follow them or not but I recommend to use my analysis as an additional tool to your trading style for more confirmations...
The USDJPY maintained a bearish momentum yesterday , topped at 103.37 levels, and bottomed at 101.97 levels, this development printed resistance at 103.37 levels and support at 101.97 levels, stability above 101.97 on a daily basis could mean a return to 103.37 levels, break of 102.93 is early warning for 103.37 levels, If 103.37 resistance is taken out, next resistance would be 104.00 ahead of 104.80 .On the downside , support comes at 102.50 ahead of 101.97 (main) , stability below 102.50…Continue
The GBPUSD recovered its losses yesterday , printed support at 1.6342 levels, this development leaves the pair targeting the 1.6440 levels where a breach is very likely , If seen it will target 1.6495 first ( June 2011 high ) strong resistance could be seen , and we might see reversal to the downside, but sustained trading above 1.6495 would target 1.6617 next ( Aug 2011 high) , above 1.6617 would target 1.6745 (Apr high 2011).
On the downside , support comes at 1.6342 levels,If…
The EURUSD maintained a bullish momentum yesterday , printed support at 1.3523 levels. This development leaves the pair targeting the 1.3620 levels where a breach is very likely ,If seen It will target 1.3681 ahead of 1.3738 ,at this point I'd expect strong resistance from 1.3680/1.3738 levels to limit the current bullish run and bring reversal , but break of 1.3738 would challenge 1.3832 levels, sustained trading above 1.3832 will have large bullish implication towards 1.4025 ahead of…Continue
Recommendations: LONG positions around 102.65 with 103.15 & 103.40 as next targets.
Alternative scenario:The downside breakout of 102.40 will call for a slide to102.10/101.95 .
Description: As long as the key support 102.40 holds, the pair targets 103.15/103.40 levels,break of 103.40 would challenge 103.73 levels.On the downside , losing 102.40 levels would delay the bullish move for retesting 101.95/101.60 levels before the…