In this article I will point the main bullish and bearish key levels, I will classify them according to their importance, and I will post the bullish, bearish and mixed probabilities charts. You can read about the classification of the Key Levels here

    We will use the Daily charts in analogy with the 4 Hours charts for our analysis.


1) Eur/Usd - Daily Chart (02.05.2012) - Monthly view,

   a) - Bullish probability - Key Levels to watch:

          - 1.316 - 1.320 area  - confluence between the Main Monthly Pivot, Main Downtrend line and 38.2% Fibonacci Retracement (2nd level Key Area),

          - 1.328 -
confluence between the 200 DMA and 23.6% Fibonacci Retracement (1st level Key Level),

         - 1.341 - confluence between the Monthly R1 Pivot, resistence from the 1st of April and the Secondary Uptrend line (2nd level Key Level),

            - 1.349 - Resistence from the 1st of March (simple Key Level),

            - 1.359 - Monthly R2 Pivot (simple Key Level).


   b) - Bearish probability - Key Levels to watch:

         -  1.303 - 1.306 area - confluence between the Monthly S1 Pivot, the supports from the 15th of March and 16th of April, and 50% Fibonacci Retracement (2nd level Key Area),

          - 1.295 - 61.8% Fibonacci Retracement, confluence with the support from the 16th of February (1st level Key Level),

          - 1.282 - Monthly S2 Pivot (simple Key Level),

         - 1.264 - 1.262 area - confluence between the Monthly S3 Pivot and the support from the 15th of January (1st level Key Level).


Probability Charts:

Bullish and Bearish Probabilities - Eur/Usd - Daily Chart :

 


Mixed Probabilities - Eur/Usd - Daily Chart :




  



2) Eur/Usd - 4 Hours Chart (02.05.2012), Weekly view,

   a) - Bullish probability - Key Levels to watch:

          - 1.320 - Key confluence between the Monthly Main Pivot, the Weekly Main Pivot, and the 200 SMA on the 4 Hours chart (2nd level Key Level),

           - 1.323 - 38.2 % Fibonacci Retracement from the last swing up on the 4 hours chart (simple Key Level),

     - 1.329 - 1.330 area - confluence between the Weekly R1 Pivot, the 23.6% fibonacci Retracement and the Main Downtrend line and secondary Uptrend line cross (2nd level Key Level),

           - 1.337 - 1.338 area - Key confluence between the Weekly R2 Pivot and the Resistence from the beginning of April (1st level Key Level),

            - 1.347 - Weekly R3 Pivot (simple Key Level).


   b) - Bearish probability - Key Levels to watch:

            - 1.314 - Key confluence between the Weekly S1 Pivot and the 61.8% Fibonacci Retracement from the last swing up (1st level Key Level),

            - 1.304 - 1.303 area - confluence between the Weekly S2 Pivot and the Monthly S1 Pivot (1st level Key Level),

          - 1.300 - 1.297 area - confluence between the historical level, the Support from the 16th of April (2nd level Key Level).


Bullish and Bearish Probabilities - Eur/Usd - 4 Hours Chart :

   




3)  Gbp/Usd - Daily chart (02.05.2012) - Monthly view,

   a) - Bullish probability - Key Levels to watch:

            - 1.611 - 1.616 area - the Monthly Main Pivot, confluence with the Support from October and November 2011 (1st Level Key Level),

             - 1.641 - Monthly R1 Pivot (simple Key Level),

             - 1.660 - Monthly R2 Pivot (simple Key Level).


   b) - Bearish probability - Key Levels to watch:

         - 1.592 - 1.589 area - Key confluence between the Monthly S1 Pivot, the 61.8% Fibonacci Retracement from the last swing up, and the support from February (2nd level Key Level),

          - 1.577 - confluence between the 50% Fibonacci Retracement and the 100 and 200 DMAs crossover (1st level Key Level),

             - 1.564 - 1.562 area - Key confluence between the Monthly S2 Pivot and the 38.2% Fibonacci Retracement, and the Supports from February and March (2nd level Key Level),

         - 1.542 - confluence between the Monthly S3 Pivot and the Supports from November and December 2011 (2nd level Key Level).


Probability Charts:

Bullish and Bearish Probabilities - Gbp/Usd - Daily Chart :




Mixed Probabilities - Gbp/Usd - Daily Chart :

   


 



4)  Gbp/Usd - 4 Hours chart (02.05.2012) - Weeklly view,

    a) - Bullish probability - Key Levels to watch:

            - 1.621 - the Weekly Main Pivot (simple Key Level),

            - 1.630 - the last Resistence (simple Key Level),

            - 1.634 - the Weekly R1 Pivot (simple Key Level),

        - 1.642 - confluence between the Weekly R2 Pivot and the Monthly R1 Pivot (1st level Key Level).


   b) - Bearish probability - Key Levels to watch:

         - 1.614 - 1.611 - confluence between the Weekly S1 Pivot, the Monthly Main Pivot and the 61.8% Fibonacci Retracement from the last swing up (2nd level Key Level),

            - 1.606 - confluence between the 50% Fibonacci Retracement, the Support from the 30th of March, and the 100 SMA (2nd level Key Level),

        - 1.600 - Key confluence between the historical support, the Weekly S2 Pivot, the 38.2% Fibonacci Retracement, and the 200 SMA (2d level Key Level),

             - 1.594 - 1.593 area - confluence between the Monthly S1 Pivot and the Weekly S3 Pivot (1st level Key Level).


Bullish and Bearish Probabilities - Gbp/Usd - 4 Hours Chart :

 



Disclaimer: Please take full responsability for your own trading decisions. This scenarios are for informational purposes only.

To your success,
Doctortyby
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