AUD/JPY
Time: 22.50 Rate: 86.46
Strategy: long
Daily time frame
After the price has retraced between one third and two thirds of the last continuous upward movement (broken black), we believe that the breakout of the upper side of the triangle (brown background) after which the level of 88.20 will bring to the level of 92.00.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Long
Enter: 87.05
Stop: 85.90
Target: 87.90
As can be seen by the graph bellow:
USD/CAD
Time: 23.00 Rate: 0.9772
Strategy: long
Daily time frame
The last upward movement creates an increasing price structure; the last 6 candlesticks create a sort of bullish flag. We believe that the break out of the level of 0.9820 will bring the price to the level of 0.9950.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Long
Enter: 0.9820
Stop: 0.9745
Target: 0.9880
As can be seen by the graph bellow:
EUR/GBP
Time: 23.10 Rate: 0.8672
Strategy: long
Daily time frame
After the price has retraced two thirds of the last upward movement (broken blue) a wave wolf pattern was created, and we believe that the price is supposed to increase in the first stage between one third to two thirds of the last downward movement (broken red). In other words, it is between the levels of 0.8780 and 0.8880.
As can be seen by the graph bellow:
EUR/JPY
Time: 23.20 Rate: 115.60
Strategy: long
Daily time frame
The price retraced between one third to two third of the last upward movement (black broken line). The breakout of the level 117.00 will bring the price most probably to the level of 121.00.
As can be seen by the graph bellow:
Important new for the 31.05.2011 (GMT)
Time: 14:00 CAD- BOC rate statement
Time: 15:00 USD- CB consumer confidence
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Real-Forex team
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