Thursday, June 2, 2011

11 Month Old Baby Watery Poo

Engineering on EUR / USD on 03.06.2011

EUR / USD, H1
Trades Past with a slight strengthening of the U.S. currency, despite the publication of disappointing U.S. macroeconomic data. It is worth noting that the European session was closed in favor of the euro, at the same time was tested maximum of 1.4458. Since yesterday, the script was not executed in full, now the euro / dollar is likely
, continue recovery, which confirmed Asian session. Apparently, the corrective wave "4" finished. Involves strengthening of European currencies against the U.S. as an impulse "5" Correction (s) "toward the maximum of 1.4458. However, it is possible that yesterday's weakening euro against the Americans - a sign of a more deep correction. Therefore, in the case of reduction of the currency pair from the current position to execute the script according to which at the moment is the development of correction "C". Target levels will be a mark 1.4250 and 1.4220.
forecast to increase rates.
GBP / USD, H1

As expected, during the trading session to a pair of British GBP / USD has demonstrated reduction, forming the latest wave of "c" in the correction of «(b)». Reaching a minimum of 1.6315, the pair made a slight rebound to the present since consolidated near the 1.6335 mark. The main scenario for today suggests that the wave of «(b)» completed. And as soon as the British currency will recover against the U.S. in order to develop a wave "(c) in the direction of the levels 1.64 and 1.6430. At the same time, if the background of reducing the appetite of participants Market risk dollar will strengthen against the pound, may be made a scenario in which the wave "with" the alternative correction «alt (b)» is not yet complete. Allow its development in the region of 62-second figure, the level of 1.6250.
forecast to increase rates.

Posted by admin at 9:59 PM

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