Daily Market Review for the 09.05.2011

EUR/USD

Time: 08:00 Rate: 1.4404

Strategy: Short

Daily time frame

The price retraced the last upward movement (broken black) in third (38.2%) we believe that the breakdown of the level 1.4300 will continue the downward movement.

As can be seen by the graph bellow:


4 hour time frame

Potential trade

Short

Enter: 1.4300

Stop: 1.4430

Target: 1.4190

As can be seen by the graph bellow:


EUR/GBP

Time: 08.10 Rate: 0.8782

Strategy: short

Daily time frame

After the sharp downward movement we believe that in the first stage the movement will continue in the breakdown of the price level of 0.8700. The breakdown of this level as of the price and will most probably will continue to the level of 0.8620.

As can be seen by the graph bellow:



4 hour time frame

Potential trade

Short

Enter: 0.8740

Stop: 0.8799

Target: 0.8693

As can be seen by the graph bellow:


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Real-Forex team 

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