Daily Market Review for the 03.05.2011


Time: 22.20 Rate: 89.00

Strategy: long/short

Daily time frame


A retracement can be seen after a continuous upward movement (broken black) to the level of 86.00, the break out of the price of the last high at 90.00 and the price got to the level of 94.00. The break out of the level 86.00 will bring down the price to the level of 84.10 in the first stage and then from there to the level of 82.30.

As can be seen by the graph bellow:

4 hour time frame

Potential Trade


Enter: 89.70

Stop: 88.50

Target: 90.70


Enter: 88.50

Stop: 89.40

Target: 87.90

As can be seen by the graph bellow:


Time: 22.30 Rate: 0.9500

Strategy: long

Daily time frame

The price created in this area a double bottom, while the break out of the level 0.9580 will lead it to the level of 0.9720 approximately – the pattern’s target “wolf waves”.

As can be seen by the graph bellow:

4 hour time frame

Potential trade


Enter: 0.9560

Stop: 0.9445

Target: 0.9650

As can be seen by the graph bellow:


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