EUR/USD
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:
http://www.real-forex.com/charts-daily/r/3.jpg
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
Short
Enter: 1.4765
Stop: 1.4885
Target: 1.4670
As can be seen by the graph bellow:
GBP/USD
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
Long
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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