August 29, 2012

  • EURUSD Weekly chart continues to get resisted at 20 Week SMA
  • Daily chart shows price moving up in a channel. There will not be big falls as long as price continues the up move in the channel. Holding the channel support line up move may continue to till 1.27 levels.
  • Major resistance at 200 Day SMA.

  • ES Four hour chart shows price contraction which may give a bigger move soon.
  • Second chart shows the support and resistance levels.
  • Last chart shows fibonacci levels and target areas.


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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