- EURUSD Falling towards 50 Day SMA.
- Breaking below 50 SMA and 1.3096 will extend this fall
- Fibonacci levels shown in daily chart may act as important support levels if the fall extends.
- S&P 500 ANALYSIS AFTER CLOSING BELL
March 9, 2012
- Price has moved above the resistance line shown in the below chart. If 50 Hour SMA is held price may move towards the resistance levels mentioned in the above chart.
- Nifty has to trade above this resistance line or channel to continue this up move.
- Failing to breakout will lead nifty towards the morning GAP.
NIFTY WEEKLY CHART
- Nifty daily shows price at oversold levels and testing previous support resistance levels. So a bounce may Happen from 200 Day SMA. But weekly chart looks overbought and closed below 5 Week High EMA. If the bounce does not takeout 5 Week High EMA we may get a selling opportunity at higher levels.
- S&P 500 EOD ANALYSIS
- Long shadow of the weekly candle shows buying on dips. If bears doesn't get a bearish day tomorrow this week may close with new high's for bulls.
- Daily chart came back and closed above 20 SAM.
- Four hour chart shows price testing the cloud which gave support and the primary trend looks safe as of now.