2007-05-05


1 day chart
Even the EUR raised in friday, and even we profit again, is clear that there is a correction going on now.
There are two support levels now, first at about 1.3530 (the friday low) and second must be located at ~1.3500 - 1.3495 . Even the channel show that we may see a raise to 1.3760, I do not think so, because...

the 4 hour chart
shows a downtrend, with resistance levels as following - 1.3605, and second @ 1.3630.
The support is @ 1.3520 and falling.
Is safe to wait the price to go down to 1.3520 or even to 1.35 and to buy from there, however, if as I wrote, we have rounded top, the price may fall verticaly to 1.34 - 1.33 !!! Clear calculation show objective of about 1.3350.

We need to wait till tuesday, and to see what the chart will bring us. I almost have idea what to do and how to trade, but I need to see an entry point. In all cases, I will use SMALL amount of money, so if the price go in wrong direction, I to be able to go out with small losses.

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