ForexPros Daily Analysis February 10, 2011

Euro Dollar:

On the daily, the euro bounced off the next 50% at 1.35489, with a target at 1.40019.
The short setup has been broken. Previous lows at 1.343 is acting as resistance.


On the daily, the pound is meeting support and bouncing off 50% 1.60494, with a target at 1.63855, in its next measured move long. The pound may find resistance at previous high at 1.62942.


On the daily, the yen has bounced off the trend line and then off the 50% long at 81.778, with a target at 82.778. The short the yen is in will be broken at 82.694.


Forex Trading analysis written by Diana Rochford for Forexpros.


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