Free Forex Forecasting EUR/USD 28 JUL 2008

Time Frame M15 --- London Session

Japan session Break-out
Time Frame M15 --- Japan Session


Time Frame H4

Wave B Reach-out fibo fan 61.8%.

major fibo fan 38.2% .. The Price breach-out 1,5750 .. Waiting Breach 1.5788 for Turning -uo


The price reach wave B 50% forward 61.8% Fibo fan
R3 1.5837
R2 1.5795
R1 1.5746
Daily Pivot -- 1.5704
S1 1.5655
S2 1.5613
S3 1.5564

Yesterday High: 1.5753
Low: 1.5662
Today Open : 1.5693
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--->>Prefer today JAPAN Session ---
- If the resistance 1.5750 is broken then the target will be 1,5970.
=> FX Trader could take a long position at 1,5710. We will put the stop loss below 1,5660 (-50 pips). The targets are 1,5800 (+90 pips) 1,5970 (+260 pips). Each trade is dangerous, take care and put your stop loss.
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==>Above 1.5788 -> Open Long at 1.5800 with target 1.5826 and 1.5850 If Below 1.5788 -> open short at 1.5790 with target 1.5710 and 1.5670

*** IF PRICE BREACH 1.5624 CLOSE BELOW ,PROJECTION TARGET 1.5500 *****
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Time Frame H4 & Daily Bullish Butterfly Pattern -Remain