- 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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- Weekly chart shows negative divergence. The divergence has been happening for sometime without any major correction.
- Facebook bears need a weekly close below 50 Week SMA for bigger falls to follow.Bulls need to stay above this line to keep the up trend safe.
- EURUSD is moving towards possible resistance zone at 1.10 level.
- Price is also near 100 Day SMA. More strength for bulls only on closing above 100 SMA.
- Price for now has taken support at Golden ratio.
- Crude oil daily trying to protect 50 Day SMA. Unable stay above 200 SMA is negative for crude bulls.
- Weekly chart shows price moving around 23.6% Fib level. Crude bulls need price to close the week above this level to avoid further weakness.
- First chart shows the weekly time frame. Price continue to create lower lows and if 311 is not held on closing basis more trouble for Tata steel bulls.
- Next two chart shows price breaking below crucial levels in daily time frame. No strength for bull till price stays below 333 level.
- PREVIOUS UPDATE ON TATA STEEL
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- Silver one hour chart shows immediate support and resistance levels.
- Daily chart shows bulls trying to stay above 200 Day SMA
- Bigger time frames are looking weak. Weekly cloud is acting as stiff resistance.
- 20 Day SMA and 8325 levels are crucial for bulls to hold above on closing basis.
- Bears are looking at RSI to become overbought and a falling resistance line.
