[akforex]

ASIAN SESSION

A) CALENDAR

-GMT 05:00 USA Fed's Stern Speaks in Singapore on Credit Markets


B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4750 111.75 2.0665
R2 1.4730 111.60 2.0605
R1 1.4695 111.35 2.0580
S1 1.4640 110.70 2.0500
S2 1.4605 110.30 2.0475
S3 1.4585 110.05 2.0450

C) WATCH
-Interest Rates



D) TRADING TIPS
CANDLESTICKS CONTINUATION PATTERNS
Rising and Falling Three methods. The first day of the Rising Three methods pattern is a long white day which fully supports the uptrending market. However, over the course of the next three trading periods, small body days occur which, as a group, trend downward. They all remain within the range of the first day's long white body and at least two of these three small-bodied days have black bodies. This period of time when the market appears to have gone nowhere is
considered by the Japanese as a "period of rest". On the fifth day of this pattern, another long white day develops which closes at a new high. Prices have finally broken out of the short trading range and the uptrend will continue. A five day pattern such as the Rising Three Methods requires a lot of detail in its definition. The above scenario is the perfect example of the Rising Three Methods.