Friday, May 19, 2006 0:56 GMT Daily Report By J. Enrique Tolentino S. http://www.gcmreach.com
Asia Session Open: Tactical Strategy for Friday May 19th, 2006: EUR/USD
EUR Asian Session Expected Movement: Down
Today's Trade Analysis: Euro shouild bne contained below 1.2920 key ST level & resume downmove pattern. Wait for further instructions in European session. ------------------------------------------------------------------------------------------- Supports: 1.2805/1.2770/1.2735 Resistances: 1.2880/1.2920/1.2955 ------------------------------------------------------------------------------------------- Plan: Waiting for initial reaction for levels under 1.29; then we’ll install entry in Europe
Asia Session Open: Tactical Strategy for Friday May 19th, 2006: USD/JPY
JPY Asian Session Expected Movement: Up
Today's Trade Analysis: Yen seems found a ST bottom. Now, 110.40/25 should provide support & make another attempt higher. Need 111.35 break 4 confirmation ------------------------------------------------------------------------------------------- Supports: 110.55/110.20/109.85 Resistances: 110.70/111.00 /111.35 ------------------------------------------------------------------------------------------- Plan: Buy 110.55, stop below 110.05, for upmove above 111.35, toward 112.00/15
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.
