Free Forex Forecasting EUR/USD 29 JUL 2008

Time Frame M15 --- London Session

London Break-out

Time Frame M15 --- Japan Session

No direction

Time Frame H4

projection target 1.5660 C Wave



The price reach wave B 50% If Price not breach trendLine to movedown and resistant level 1.5788 for futher turning-up

R3 1.5861
R2 1.5814
R1 1.5778
Daily Pivot -- 1.5731
S1 1.5695
S2 1.5648
S3 1.5612

Yesterday High: 1.5767
Low: 1.5742
Today Open : 1.5693
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--->>Prefer today JAPAN Session ---
Waiting for the break of support or resistance
- If the resistance 1.5788 is broken then the target will be 1,5970.
=> FX Trader could take a long position at 1,5790. We will put the stop loss,The targets are 1,5970.Each trade is dangerous, take care and put your stop loss.
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==>Above 1.5788 -> Open Long at 1.5790 with target 1.5970
If Below 1.5788 -> open short at 1.5765 with target 1.5705.
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--->>Prefer today London Session ---
Above 1.5731 ->Long at 1.5735 with target 1,5760
Below 1.5720 ->Short at 1.5705 with target 1,5660
"We won't take a position. The risk/reward ratio is too high to take a position.."

*** IF PRICE BREACH 1.5624 CLOSE BELOW ,PROJECTION TARGET 1.5500 *****

Time Frame H4 & Daily No Pattern -

Caution


Need clear direction and signal to take position.