- EURUSD Weekly chart shows price near weekly resistance line from 1.45 through 1.41.
- Price is showing weakness near weekly cloud.
- Last week candle has closed above 50 Week SMA So for bigger falls price must break below 50 Week SMA.
- ES CHART ANALYSIS
September 18, 2012
- Nifty is testing the Golden ratio and price near previous high in weekly chart. Bears need a bearish candle at this level for the overbought indicators to be effective.
- Correction if limited to the red support line shown in second chart would still be bullish as that would give an ascending triangle pattern.
- Last chart shows a bullish projection, a rounding bottom, The path drawn may not be the same i have just mirrored the path on the left hand side But holding above 5170 - 5200 levels this pattern is likely to play out.