Daily Market Review for the 09.06.2011

EUR/GBP

Time: 21.30 Rate: 0.8895

Strategy: short

Daily time frame

The price got to the target of the wolf waves (the connecting line between point 1-4), created an upside down candlestick (the last red candlestick) and we believe that from this point on it will retrace between one third to two thirds the last continuous upward movement (black broken line) between the levels of 0.8840 t the level of 0.8750.

As can be seen by the graph bellow:

NZD/USD

Time: 21.30 Rate: 0.8150

Strategy: short

Daily time frame

The price created wolf waves while the price started its way to the target (the connecting line between points 1-4). The breakdown of the support level 0.8070 will lead the price to the level of 0.8010 after which to the level of 0.7950 at first.

As can be seen by the graph bellow:

4 hour time frame

Potential trade

Short

Enter: 0.8110

Stop: 0.8235

Target: 0.8010

As can be seen by the graph bellow:

USD/CAD

Time: 21.30 Rate: 0.9796

Strategy: long

Daily time frame

The price is stuck to the upper area and tries to break out the resistance level of 0.9820, the break out of this level will most probably lead to approximately the level of 0.9950.

As can be seen by the graph bellow:

4 hour time frame

Potential trade

Long

Enter: 0.9822

Stop: 0.9768

Target: 0.9869

As can be seen by the graph bellow:

GBP/JPY

Time: 21.30 Rate: 130.87

Strategy: short

Daily time frame

The price retraced the continuous downward movement (red broken line), to 50% of the level 135.15, and gets closer now to the support level 130.30, the breakout of this will lead in the first stage to the level of 129.10, and its breakdown will lead the price to the level of 126.10.

As can be seen by the graph bellow:

Important new for the 09.06.2011 (GMT)

Time: 12:00 GBP- Official bank rate

Time: 12:45 EUR- minimum bid rate

Time: 13.30 CAD- trade balance

Time: 13.30 USD – unemployment claims

Time: 13:30 USD- trade balance

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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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