November 3, 2014

  • EURUSD Daily chart testing the recent lows
  • Weekly chart shows price at 78.6% Fib level
  • Month chart shows price testing crucial support zone. Pair is likely to hang around these levels for one or two months before moving up again. Bigger moves on the downside only if 1.20 levels are broken on closing basis. 
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  • NIFTY Forms a full candle above the recent resistance zone.
  • Last MACD Buy signal continues to look good.
  • Possible resistance line shown in last chart.


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My Favourite Quote

"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