August 2, 2013

 
  • Crucial support for EURUSD at the 23.6% Support level of 4 Hour chart.
  • Broken support line and the levels shown in last chart may act as resistance.




  • If the correction extends the broken resistance lines of the ascending triangle and 23.6% Fib level may act as support. Weakness only if price starts to trade below these levels.


  • ITC is falling towards its up trend line and 100 Day sma.
  • Weekly chart is showing a potential bearish setup. Bigger correction on price closing below 20 Week SMA.
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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