Friday, October 9, 2009
A possible break out from the upward fork
Kijun-sen and Chikou will provide support between 1051.50 and 1054.50 and resistance between 1069 and 1070
The price has been crossing the Tenkan-sen and
the angle is sideways, this shows a loss of market momentum.
The Prices distance from the Kumo wiil create a Bearish attraction toward the relatively thick Kumo
where it will find heavy support at 1040.
Currently the Price is also being pulled downward by he Flat Kijun-sen.
This chart is demonstrating market weakness. A downward break in the Price below 1040
would be very Bearish
Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.
Posted by Robert Campbell at 09:29