Daily Market Review for the 02.05.2011


Time: 11.45 Rate 1.4808

Strategy: Short/long

Daily time frame

Most probably the price will retrace for the upper side of the break out channel (broken red). The break out of the level of 1.4880 will continue its course of the Euro upward towards the levels in the daily and monthly time frame. However, the decline of the price under the upper side of the channel (broken red) and under the lower side of the second channel and most probably will retrace for the last upward movement.

As can be seen by the graph bellow:


4 hour time frame

Strategy: short

In the breakdown of the price level 1.4770, the first target is 1.4670 and after which the target of the “wave wolf” pattern, the connecting line between 1 and 4. The breakout of the price of the level of 1.4900 and the upward movement will continue over the big graphic targets.

Potential Trade


Enter: 1.4765

Stop: 1.4885

Target: 1.4670

As can be seen by the graph bellow:


Time: 11.55 Rate: 1.6708

Strategy: Long

Daily time frame

The price broke out the upper side of the A-symmetric triangle and got to the target of “ABCD” the level of 1.6680. The next target is 1.6770.

As can be seen by the graph bellow:

4 hour time frame

The complete target of the range is at the level of 1.6870 and the target of this pattern “ABCD” coincides with this target. The break out of the level 1.6750 and the price will most probably get to the level of 1.6870.

Potential Trade


Enter: 1.6755

Stop: 1.6625

Target: 1.6870

As can be seen by the graph bellow:

Important news for the 02.05.2011

Time: 02.15- CHF Retail sales y/y

Time: 08:00- GBP BOE government king speaks

Time: 09:00 -USD ISM manufacturing PMI

F10.1 news for the 02.05.2011

: bly get to the level of 1.6870.

t to the r which e of the seocnd


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