June 12, 2013
- EURUSD 4 Hour chart shows price continues to make Higher High's and lows.
- UP Trend in 4 Hour time frame will be safe as long as price stays above the cloud. Weakness can be seen on price trading below the up trend line.
- Daily chart shows price testing crucial Golden ratio. Crossing this level on closing basis will help to extend this up move.
- ES CHART UPDATE
- Crucial support for RCOM Between 100 and 103.
- Weekly chart is developing into a bearish engulfing pattern. With 3 days left in the week bulls should try to close higher to avoid a bearish pattern in weekly chart.
- 23.6% Fib level is around 103. Weekly close below this level will strengthen bears further.