January 13, 2011

EURUSD DAILY CHART
US DOLLAR DAILY CHART
  • US Dollar is trading near its important support level of 79.025 in daily chart.
  • EURUSD pair is approaching its resistance zone of 1.3421 to 1.3497 in daily chart.
  • US Dollar breaking below 79.025 can give good direction for EURUSD pair in the short term.
  • SILVER BEARISH ENGULFING

  • Silver hour chart is showing a bearish engulfing pattern.
  • Price is getting resisted at 50% Fib level of the fall from 31.275 to 28.325
  • Immediate support and resistance in hour chart is 29.845 and support at 29.155
  • Break above 29.84 will negate the negative effects of bearish engulfing in hour chart.
  • Break below 29.155 will favour the bears.
  • US DOLLAR TECHNICAL ANALYSIS

  • Bidu is trading above 50 day moving average.
  • Price has also given a breakout above the resistance line in daily chart.
  • First target for this breakout is 111 area.
  • US DOLLAR TECHNICAL ANALYSIS

  • ES Daily chart with important support levels.
  • If correction continues ES may get support near 1276.75 or 1273.70.
  • US DOLLAR TECHNICAL ANALYSIS

  • Nifty has started an up move after finding support near 5690 level, Line chart shows the u turn made by nifty.
  • Up move can only increase momentum if nifty closes near 5 day high ema.
  • There are many resistance levels on its way up. 50 DMA and 61.8% Fib level is at 5995.
  • US DOLLAR TECHNICAL ANALYSIS

  • US Dollar daily chart is trading near its 50 day moving average.
  • If price closes below its 50 day moving average dollar may drop to 79.025
  • If USD gets support here we may see an up move.
  • Hour chart is looking weak with price trading below its 50 hour moving average
  • USDJPY DIAMOND PATTERN

  • Crude oil weekly chart with price trading in a range.
  • 92.57 is the resistance level and 86.86 support level.
  • We may see a 5 Dollar move towards the side of the breakout. Till then Crude may trade within this range.
  • USDJPY Four hour chart with a diamond pattern.
  • If price breaks 82.66 we may see good correction in this pair.

Disclaimer

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore