May 25, 2015

 
  • For now the pair is not trending, Instead its in a broad range between 1.04 levels and 1.14 levels. Pair will favour bears on closing below 50 day SMA.



  • 200 SMA Crucial for bulls in One hour time frame.
  • 4 Hour chart shows price staying above the neck line. Bulls can reach newer high's if price continues to stay above this zone.



  • Nifty bounce continues but price is approaching crucial resistance levels. 2nd chart shows the falling resistance line and 100 Day SMA. Bulls simply needs to sustain above these two level son closing basis to weaken the other bearish possibilities shown in first and last charts.




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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