Daily Market Review for the 14.04.2011

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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.) is not liable for losses or damages as a result of reliance on the information provided by e-mail or on the overall data, quotes, charts, signals buy / sell. It is hereby clarified that the investor must be aware of risks involved in trading in financial markets, which is a form of investment that may contain potential risks.

Real-Forex team 

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