May 31, 2015

  • Monthly candle did gave a possible reversal formation last month but there was no price follow up for bears. Similar pattern shown on left hand side worked well for bears. For now bears need to stay above 123 and 121 levels for bigger falls to happen.
  • Week shows a broad range between 121 and 134 levels.
  • Daily chart on closing basis price contraction in an ascending triangle pattern. Closing outside these lines may give good direction.
  • EURUSD Chart analysis


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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