Monday, January 14, 2013

Trade Guideline For Tuesday

Monday price pattern looks like Wave 1 and 2 down, with Monday's low as the low of Wave 1 when looking at it on the 5-minute chart, starting from last Friday's closing high. At the end of the day on Monday it looks set to commence wave 3 down. 

If so, it should trend-down or gap-down for wave 3 on Tuesday morning, and a break below Monday's low implies wave 3 is in progress with support zones coming it at 2715, 2700 and 2690.

Breaking above last Friday's high would invalidate this interpretation.

Iran’s economy minister says the country plans to phase out dollar and euro in its foreign trade
Iran’s economy minister says the country plans to phase out dollar and euro in its foreign trade.
Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini says the country plans to phase out dollar and euro in its future international transactions after the US and the European Union (EU) imposed sanctions on Iran.