EUR-USD
Time:19.30 Rate:1.4477
Strategy: short
Daily time frame
The price was not able to break out another day the level of 1.4520, and the upper side of the parallel upward channel. Most likely the price will decrease to the level of 1.4330 in the first stage. (a third retracement of CD).
As can be seen by the graph bellow:
4 hour time frame
The price created an evening star (brown background) under the resistance level 1.4520 and the breakdown of the level 1.4430, will most likely bring it to the level of 1.4330, retracement of the third Fibonacci of the continuous upward movement (broken blue line).
Potential Trade
Short
Enter: 1.4430
Stop: 1.4525
Target: 1.4330
As can be seen by the graph bellow:
GBP-USD
Time: 19.30 Rate: 1.6277
Strategy: short
Daily time frame
The price was supported on the level of 1.6240 (third retracement of the continuous upward movement- broken blue line). The breakdown of the price of this support level will bring it to the level of 1.6110 (two thirds retracement of the continuous upward movement).
As can be seen by the graph bellow:
4 hour time frame
The price broke the resistance level 1.63, and we believe that in the first stage will get to 1.62, support level. If and when the price will break the price level 1.6200, most likely will get to the level 1.60.
As can be seen by the graph bellow:
Important news for the 14.04.2011
Time: 15.30 USD PPI m/m
Time: 15.30 USD unemployment Claims
Time: 15.30 USD Core PPI m/m
All day: G7 meetings
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