Saturday, May 20, 2006 21:47 GMT Daily Report By J. Enrique Tolentino S. http://www.gcmreach.com
Asia Session Open: Tactical Strategy for Monday May 22nd, 2006: EUR/USD
EUR Asian Session Expected Movement: Down
Today's Trade Analysis: Euro should be contained below 1.2870 key ST level & resume downmove pattern. Possible resistance around 1.2815/30, target 1.2610 ------------------------------------------------------------------------------------------- Supports: 1.2735/1.2700/1.2670 Resistances: 1.2805/1.2830/1.2870 ------------------------------------------------------------------------------------------- Plan: Waiting for initial reaction for levels under 1.28; then we’ll install entry in Europe.
Asia Session Open: Tactical Strategy for Monday May 22nd, 2006: USD/JPY
JPY Asian Session Expected Movement: Up
Today's Trade Analysis: Yen seems found a ST bottom. Now, 111.35/20 should support current ST upmove. Yen need a 112.70 break 2 confirm bottom is in place. ------------------------------------------------------------------------------------------- Supports: 111.35/111.00/110.70 Resistances: 112.00/112.35 /112.70 ------------------------------------------------------------------------------------------- Plan: Buy HSL @ 111.35, stop below 110.85, 4 upmove continuation toward 112.35/70.
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