August 20, 2015

  • EURUSD Daily shows price moving above 200 Day SMA. Bulls need a close above this line to extend the up move. Immediate resistance seen in 4 Hour chart. This level must be crossed for price to move towards the Daily range top which is shown in last chart.

  • Crude oil daily chart shows price violating the support zone.
  • 4 Hour chart too continues to look bearish as price is trending below the cloud.
  • Hope for crude bulls only if price is able to move above the 4 hour cloud.

  • Gold moving towards the broken support zone in weekly time frame. Daily chart shown the same levels with crucial fib levels.
  • 4 Hour chart shows the start of a trending up move. This bounce will be safe till price stays above the cloud in this time frame. Price also needs to move above the previous broken support zone which may act as resistance now.


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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