Daily Market Review for the 04.04.2011


Time: 08.30 Rate: 1.0385

Daily Time frame

Strategy: Short


As was mentioned on the 31st of March the pair made an upward movement from 0.9705 without retracement, in the opening of the trade the week continued to increase and got to point D of the ABCD movement in 1.0420 the area is used as a strategy for retracement of at least 38.2% Fibonacci (1.0150).

As can be seen by the graph bellow:

Potential trade

Short under the trade period of Asia 1.0380.

Stop: 1.0510 – over the 161.8% Fibonacci of the last downward movement.

First target: 1.0250 – 23.6% Fibonacci of the upward movement.

Second target: 1.0150 – 38.2% Fibonacci of the upward movement.


Time: 09.00 Rate: 119.80

Strategy: short

Daily Time Frame

The pair fulfilled without retracing the goals assigned to it in the previous reviews and continued itself up, the next important resistance level is 122.00-121.80 the retracement of 50% of the big downward movement and 161.8% Fibonacci of the range (green area).

In addition, the final target of the highest range (about 900) pips is situated in the area of 125.00.

As can be seen by the graph bellow:

4 hour time frame

The pair is situated in a major momentum movement that brought the RSI indicator which is situated in the over bought for a long time, in the breakdown of the broken red line, the indicator of the pair is expected to stop the upward movement and to create one third retracement of all the upward movement from the bottom.

As can be seen by the graph bellow:

Potential Trade:

Short after arrival to 122.50-121.80 (blue area) and half of the broken red line which is down in the RSI indicator.

Stop: 122.60

First target: 119.00

Second target: 116.50



Forex trading involves high risk. Before any trade, you should consider carefully the investment objectives and the level of risk. The data sent by mail is not necessarily real-time data or precise. Real-Forex is not liable for the losses resulting from the utilization of the data. Real-Forex (Finnocorp Trading Solution Ltd

.) is not liable for losses or damages as a result of reliance on the information provided by e-mail or on the overall data, quotes, charts, signals buy / sell. It is hereby clarified that the investor must be aware of risks involved in trading in financial markets, which is a form of investment that may contain potential risks.

Real-Forex team 

Trade like the pro’s with a true ECN Forex broker