June 19, 2013

  • EURUSD Weekly chart shows price near resistance line.
  • Current up move will be safe above the cloud and Up trend line of four hour time frame.
  • Weakness on price trading below the up trend line. Trend will turn on price falling below the cloud.

  • Current trend will remain strong if price continues to trade below 5 Day High EMA.
  • Price staying below 20 Week SMA too means weakness on higher time frame.
  • Levels to protect for bulls are 11735 and 11656 below which down trend will gain momentum.
  • Daily chart hits Upper bollinger band and near a resistance line as shown in first chart.
  • Last chart shows price closing above 50 Day SMA. Sustaining above 50 SMA price may target the resistance line from 18.32 level


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"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