EUR/CHF
Time: 11.00 Rate: 1.2203
Strategy: long
Daily time frame
The price is moving in the downward parallel channel. The arrival of the price to the lower side of the channel, and is stopped at the current area. We believe that the breakout of the price is at the level of 1.2250 and its target is at the level of 1.2450.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Long
Enter: 1.2255
Stop: 1.2185
Target: 1.2350
As can be seen by the graph bellow:
GBP/USD
Time: 11.00 Rate: 1.6425
Strategy: long
Daily time frame
The price retraced the upward movement (broken black line) about two thirds to the level of 1.6050, stopped, and created upward movement and retraced the downward movement (broken brown line) about two thirds to the level of 1.6550, and from there again decreased and retraced the last upward movement (broken blue line) about 50% and stopped on a moving average of the Bullinger on the level of approximately 1.6300. The breakout of the price at the level of 1.6550 will probably trace the level of 1.6750 as the next target. The breakdown of the level-1.6300 will most probably in the first stage retrace to two thirds, the level of 1.6250 and its breakdown will lead most probably the price to the level of the last low, the level of 1.6050.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Long
Enter: 1.6455
Stop: 1.6380
Target: 1.6530
As can be seen by the graph bellow:
USD/JPY
Time: 11.00 Rate: 80.28
Strategy: long
Daily time frame
It can be seen that the price is currently bellow the moving average of the Bullinger (Bear Market). The breakdown of the price at the support level of 79.75 (historical level) will bring to a continuous decline. However the stop of the price at this level and the range between the level of 79.75 and 82.50 will continue.
As can be seen by the graph bellow:
4 hour time frame
The pattern “ABAB” which is at the level of 80.70 breaks by the price and brings its exact target at the level of 80. In addition, the harmonious patter AB=CD was also completed, as such that in the creation of increasing price structure in the hourly time dram, most probably, will start an upward movement whereby in the first stage will retrace the downward movement CD between a third to two thirds.
As can be seen by the graph bellow:
EUR/USD
Time:11.00 Rate: 1.4634
Strategy: long
Daily time frame
It can be seen in more detail what can be seen in the weekly time frame. The last downward movement (red broken line) retracing two thirds of its upward movement beforehand (broken black) and the last nine candlesticks created an upward movement while the resistance level if 1.4350. The break out, is checked by the price at the red single candlestick which closes exactly on it and this level turns to a support level. It can be seen that the Bullinger band opens (the increase of the volatility) and the price breaks out the retracement of two thirds of the last downward movement (broken red line) so if all this data will most probably that the price will check again the resistance level (the last high), at the level of 1.4950.
As can be seen by the graph bellow:
Important news for the 06.06.2011 (GMT)
Time: 13.30 CAD- Building permits m/m
Time: 15.00 CAD-IVEY PMI