ForexPros Daily Analysis May 04, 2011


Free webinar on ForexPros - The Martingale System

Expert: Luca Discacciati

Start: Wed, May 11, 2011, 10:00 EST
End: Wed, May 11, 2011, 11:00 EST

Martingale, how to use this powerful trading system to make consistent profits on the forex market.
The Martingale system, which dates back to 700, is a mathematical system that was initially used in the casinos ... adapted to forex, is one of the most potentially profitable trading strategies ever!

Click here to join free

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Eur/Usd Towards 1.49 and Above

Slow, choppy waves don't change outlook here, which is still bullish with prices trapped in a corrective formation, labelled as a wave iv). As such, wave five targets are still in view around 1.495 followed by 1.5, once 1.49 is out. Bullish trend remains intact as long as the pair trades above the channel support line and 1.4645 critical region.

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Forex Trading Analysis written by Gregor Horvat for ForexPros. For more information about currency charts visit ForexPros.

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New on Forexpros, the Fibonacci Calculator!

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