March 5, 2015

EURUSD Chart update

  • EURUSD 4 Hour chart shows price breaking the recent low.
  • Month chart continues to favor bears of this pair. 1.07 levels are likely to be tested soon
  • Daily chart shows pair selling off or becoming weak as it nears the cloud.

Nifty Bearish Price action

  • Weekly upper shadows and Bearish Engulfing patterns are giving some hope for bears.
  • But bears need to stay below 8913 and 8885 on closing basis to extend this correction
  • Bulls need to stay above 8965 levels to negate this bearish price action.