USD/JPY
Time: 21.30 Rate: 81.33
Strategy: long
Daily time frame
The price created morning star (purple eclipse) and if an additional green candlestick will be created, most probably will start an upward movement, while in the first stage the price will check upon the level of 82.50, and if this level will break out, the next level is at 83.20.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Long
Enter: 81.80
Stop: 81.15
Target: 82.40
As can be seen by the graph bellow:
EUR/CAD
Time: 21.30 Rate: 1.3932
Strategy: short
Daily time frame
It can be seen a harmonious pattern named “wolf waves” that started its way to the target (the connecting line between point 1 and 4). The price retraced 50% the last upward movement, created evening star, and we believe that now it will go down to its original target at the level of 1.3387.
As can be seen by the graph bellow:
4 hour time frame
Potential trade
Short
Enter: 1.3880
Stop: 1.4040
Target: 1.3740
As can be seen by the graph bellow:
EUR/USD
Time: 21.40 Rate:1.4383
Strategy: long
Daily time frame
The price retraced about 50% the last continuous upward movement (broken black) and now broke out the resistance level of 1.4350 which switched to a support level. We believe that in the first stage the price will check the next resistance level at 1.4460, the level of 50% Fibonacci retracement of the last continuous downward movement (broken red).
As can be seen by the graph bellow:
GBP/CHF
Time: 21.45 Rate: 1.4024
Strategy: short
Daily time frame
The price moves in the parallel downward channel at the same time as creating a downward price structure. It can be seen the breakdown of the level of 1.41 which was at the support level and turned to be at the resistance level while the price checked it after it broke down. We believe that the next target of the price is the level of 1.3670, close to the lower side of the channel.
As can be seen by the graph bellow:
Important news for the 01.06.2011 (GMT)
Time: 08.15 CHF- Retail sales y/y
Time: 09.30 GBP- manufacturing PMI
Time: 13.15 USD- ADP non- farm employment change
Time: 14:00 EUR- ECB president trichet speaks
Time: 15:00 USD- ISM manufacturing PMI
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