March 5, 2015

  • EURUSD 4 Hour chart shows price breaking the recent low.
  • Month chart continues to favor bears of this pair. 1.07 levels are likely to be tested soon
  • Daily chart shows pair selling off or becoming weak as it nears the cloud.
  • Weekly upper shadows and Bearish Engulfing patterns are giving some hope for bears.
  • But bears need to stay below 8913 and 8885 on closing basis to extend this correction
  • Bulls need to stay above 8965 levels to negate this bearish price action. 


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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