April 24, 2015

 
 
  • EURUSD Testing resistance zone.
  • Bulls here need a daily close above 50 Day SMA which has not happened for a very long time. Trend may change only on a cloud breakout.
  • Immediate resistance zone at 1.10 levels.

  • Gold 4 Hour managed to stay inside the triangle.
  • If the Triangle does not give good direction price may remain in a range as shown in chart 2.
  • Gold bears need to sustain below 200 period SMA shown in 4 Hour time frame.




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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