July 23, 2015

EURUSD Chart analysis

  • Daily chart shows price moving towards the falling resistance line. Price seems to be moving in a large bearish descending triangle pattern. Within this bearish pattern price is in a bullish phase for now. Bullishness is likely to get weak near the falling resistance line. 

Nifty support and resistance levels

  • Nifty bears failed to take price below 20 Day SMA. Weakness only if price moves below the rising support line shown in first chart.
  • Next hope for bears is the golden ratio shown in last chart. Bulls need to clear this for bigger up moves to follow.