- Daily chart of MSFT shows price testing the 50 day moving average.
- Momentum of price is favouring bears. If stock closes below 50 dma direction will favour bears in the short term.
- Weekly chart shows important support area near 27.40. Price is testing this level. Closing below this level will take price towards the weekly trend line.
- US DOLLAR RISES FROM THE GOLDEN RATIO
January 29, 2011
US DOLLAR DAILY CHART
EURUSD DAILY CHART
- US Dollar and EurUsd daily charts with the golden ratio(61.8%) Fibonacci level.
- US Dollar took support at the 61.8% Fib level while for Eurusd it acted as resistance.
- Now for the Dollar to rise it should cross the 50% level and close above it which will confirm a short term reversal in US Dollar price and this means negative outlook for EURUSD.
- Nifty daily chart showing bears extending gains below 200 DMA.
- Line chart is showing a possible reversal area from near 5490 levels
- MACD is showing slight positive divergence but price is yet to confirm.
- Bears will be happy to see yet another bearish engulfing in weekly chart.
- TATA STEEL ASCENDING BROADENING WEDGE
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