October 18, 2012
- EURUSD Weekly chart at 38.2% Fibonacci level.
- Price near weekly resistance line and weekly cloud which may act as resistance.
- Trading above the fib level and resistance line may give an up move into the cloud. But the long term trend of EURUSD Will only change on a weekly cloud breakout which is unlikely to happen for now.
- SPY 4 Hour chart shows a possible resistance line. Price is also unable to trade above 78.6% Fib level as shown in hourly charts. Bulls must trade above these two levels on closing basis for a bigger up move to happen
- For bears Weakness below Golden ratio(61.8%) shown in second chart and 200 Hour SMA shown in the last chart.
- SPX Hourly charts shows price near 78.6% Fib level which has to be broken for extending this move towards 1471. For bears price need to fall back into the cloud or below 100 and 200 Hour SMA for a breakdown or weakness in hourly charts.
- Weekly chart shows good momentum till now. Bulls near the selling zone of 1467 - 1474, They need a strong close for the week into this zone or above it for a possible breakout to happen.
- APPLE UPDATE
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.