- EURUSD 4 Hour chart shows an up move. But price will soon catch up with stiff resistance levels.
- Immediate resistance near 1.2322 - 1.2334 zone. Above this 50 Day SMA in daily chart which has acted as stiff resistance for EURUSD.
- S&P 500 ANALYSIS AFTER CLOSING BELL
July 26, 2012
- Nifty's daily candle looks like a hammer candle not perfect though a perfect hammer candle will not have the upper shadow.
- Day managed to close above 50 and 200 Day SMA.
- Week chart too is giving support at 50 Week SMA(5085).
- For continuing the down move price has to break the daily cloud and 50 Week SMA. Daily stochastic looks oversold which may help bulls for a pullback provided price stays above the daily cloud.
- S&P 500 EOD UPDATE
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