AUD/USD
Time: 20.40 Rate 1.0503
Strategy: short
Daily time frame
The price is retracing the last continuous upward movement (broken black line) between one third to two thirds, while creating a downward price pattern. We believe that the breakout of 1.0500 that happened today will bring the price to the level of 1.0360 in the first stage, and the breakdown of this, will bring down the price to the level of 1.0200.
As can be seen by the graph bellow:
4 hour time frame:
Potential trade
Short
Enter: 1.0475
Stop: 1.0510
Target: 1.0422
As can be seen by the graph bellow:
EUR/CAD
Time: 20.45 Rate: 1.3735
Strategy: short
Daily time frame
There can be seen harmonious pattern named “wolf waves” which the price’s target is the connecting line between 1 and 4. Therefore, the breakdown of the price at the level of 1.3640 will bring it approximately to the level of 1.3390.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Short
Enter: 1.3675
Stop: 1.3750
Target: 1.3610
As can be seen by the graph bellow:
Important news for the 24.05.2011 (GMT)
Time: 09.00 EUR- German IFO Business climate
Time: 09.30 GBP- Public sector net borrowing
Time: 15:00 USD- New home sales
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Real-Forex team 
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