Euro Daily 26.05.2011

4 Hour Chart

Finally there are some signs, that probably market will show some solid bounce in mid-term perspective. Although here are just signs that point on bounce but not on its depth...

On daily there is nothing interesting still - 3 inside days and current trading session develops up. The major interest is linked with 1.42 area - here will cross pivot point and MACD Predictor. If market will shift daily trend bullish - this will give us more confidence with expectations of move to 1.4550

On 4-hour chart here is another animal - Crab "Sell". This is a possible perspective of upside move. Take a note that the targets of crab coincide with 0.618 Fib resistance - i.e. our target of momentum trade on weekly.

On hourly chart the major important issues for current trading session. Market has turned to larger AB-CD, as we discussed yesterday and has hit it's target already. But acceleration right to "D" point tells that market has not bad chances to continue.
Just above the market weekly pivot and 5/8 Fib resistance. So, we can count on some retracement, but it should not be deep. Probably we should keep an eye on 1.41-1.4110 area to search for buy opportunities. Stop looks reasonable somewhere below 1.4050.

1 Hour Chart

Daily Chart

- Jimmy Wibisono -