- Trend line in daily chart is being tested.
- Closing below the trend line will be negative for the bulls.
- Price for now has paused at the 50 day moving average.
- Price sustaining below 50 dma will change the trend in favor of bears.
- EURUSD Hour chart analysis
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 10, 2011
Dow Jones near 12000
EURUSD Hour chart turns negative
- Eurusd hour chart is looking negative. Price is trending down in a channel.
- Price will continue to move down as long as it sustains below 50 hour moving average.
- 1.37 is an important support level.
- ES HOUR CHART BREAKS SUPPORT
Nifty daily analysis
- 50 day moving average and the support resistance lines should give direction soon.
- The fib chart shows what has been going on, price moving up and down between 23.6% to 38.2%. So a decisive close above or below these levels can give good direction.
- According to fib levels we may get these targets, Close Below 5413 means price moves towards the recent low. Close above 5600 = 5677 and 5796.
- RELIANCE INDUSTRIES CHART
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