Posted by millionaire | Sunday, June 08, 2008 | | 0 comments »



Hello trader,

Let mark the important point for eu daily chart above:

  1. 38.2%fibo=1.5560
  2. possible double top daily=1.5812
Strategy

Euro rally two days around 400pips from the bottom 1.5365,look like short term bottom has been place there,i ve marked the support and the resistance zone,the price should retrace anytime,but it should contain above 1.5560,i would like to buy as long as 1.5560 zone hold as a support,target should challenge toward 1.5812 first,fail should bring eu to test 1.5560 first but breakout would bring this pair toward 1.6010 highest before and 1.6208 later,if 1candle open below 1.5540 the sell should trigger and the price have a possible to test the support first around 1.5454 and 1.5365 later.



Above is gbp/usd daily chart,same with euro/usd chart,i ve marked the important point too,let see the point below:
  1. support zone=1.9337 to 1.9452
  2. resistance=1.9843
cable should retrace anytime but it should contain above 1.9452 zone,1candle open below 1.9452 should resume the pair to test 1.9337 again,but 1.9740 breakout would bring this pair toward 1.9843 and might be 2.0024 later,failure to fight against 1.9843 would risk the cable toward 1.9452 first and 1.9337 later.ok trader,do your own analysis too,dont forget to build the best money management,trading not demand for your skill only,but how is your reflection toward current price action.Wish you all the best;)

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