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Wednesday, June 10, 2009

Morning Update Wednesday

So far so good. I'm looking for a turn at Pivot Point Support 2 or the bottom trend line of the triangle.
The Euro looks like it could play along with that idea as it could bounce off the bottom of this M60 Kumo. There is good support there from past consolidation.
This is the M60 chart. The bottom of the Kumo is at 920 which is also where I have drawn the pink trend line in the first chart. The price is already below the M1 through M30 Kumos so we will not be getting any support from those Kumos.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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