- Trend line in daily chart is being tested.
- Closing below the trend line will be negative for the bulls.
- Price for now has paused at the 50 day moving average.
- Price sustaining below 50 dma will change the trend in favor of bears.
- EURUSD Hour chart analysis
March 10, 2011
- 50 day moving average and the support resistance lines should give direction soon.
- The fib chart shows what has been going on, price moving up and down between 23.6% to 38.2%. So a decisive close above or below these levels can give good direction.
- According to fib levels we may get these targets, Close Below 5413 means price moves towards the recent low. Close above 5600 = 5677 and 5796.
- RELIANCE INDUSTRIES CHART
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