August 13, 2015

Silver chart update

  • Silver daily testing previous support zone which may act as resistance. Weekly chart is showing a potential reversal which needs price to close above the shaded portion. unable close above this zone may resume weakness and silver may give new lows.

EURUSD Chart update

  • EURUSD Pausing at 200 Day SMA. Euro bulls needed price to close above 200 SMA which is not happening as of now. 
  • Pair may make another attempt at 200 SMA if the set up in hourly charts remain intact. If one see the hour chart the price is still above the cloud. If price gets support at hourly cloud another up move is possible.

Nifty chart analysis

  • Nifty has closed below 50 day SMA But price is trading close to recent swing lows and crucial fib levels which may support the fall. Having said that a daily close below 8315 may strengthen bears further.