- GBPUSD is testing crucial support zone in week and month charts.
- Daily chart continues to give lower lows. Price unable to sustain above daily cloud.
- 1.48 level is crucial for British pound. Close below this level may lead to 1.44 as seen in second chart.
- If the range bottom holds pair may continue to remain in this Multi year Range.
- EURUSD CHART ANALYSIS
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- Support zone shown in 3rd chart is crucial now for bulls and bears. Bigger falls will be possible only on breaking below this level.
- Crucial resistance level on the way up are 200 Period SMA and the broken support zone + Golden ratio combo shown in last chart.
- SPY CHARTS BEFORE OPENING BELL
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- SPY Testing the 100 Day SMA and Daily cloud.
- Price is also near Golden Ratio fib level as discussed yesterday.
- Price also getting closer to daily trend line. Bulls must protect 100 SMA, If price closes below it price may test 200 Day SMA.
- CRUDE OIL CHART UPDATE
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- Facebook trying to stay above 50 Day SMA.
- Weekly candle continue to look weak. Bears will be stronger if price starts to trade below 20 Week SMA. For now price is pausing at 20 Week SMA.
- So Bulls need to protect 50 SMA and 20 Week SMA to avoid a visit towards Range Bottom.
- FACEBOOK WEEKEND UPDATE
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- As seen in the first chart the Negative divergence in weekly chart continues to exist without any major corrections. Correction happening right now is just the weakness within the channel. Bigger correction only if the channel support line goes. If the channel sustains the bull market will remain strong.
- For the very short term crucial levels to look for are 50 DaY SMA and 20 Week SMA for weekly time frame. Bigger weakness on a weekly close below 20 week SMA.
- CRUDE OIL CHART UPDATE
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