September 19, 2013

  • EURUSD Weekly chart shows price testing 200 Week SMA. Weekly chart shows the recent attempts to sustain above this level has failed. Price closing back below this level may result in bigger correction.
  • Weakness only on price falling below 1.34. Next resistance at 1.37 levels. 
  • Crude oil is back into the broken triangle. Price is pausing at the resistance line of the triangle. Unable to trade above 109 area may result in a fall.

  • First two charts shows potential for bulls for bigger up moves. 1709 level may act as support during corrections. Weakness only on price falling below this level.
  • Last chart shows potential resistance around 1735 levels. Closing outside this channel though means a faster up move before a correction can happen.


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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