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Monday, January 18, 2010

Monday

10:52 PST

The daily range forecast between 1135 and 1136.5 has been broken by 1/2 point on the /ES.
DDF is Neutral but the range is remarkably narrow. Having broken the top is somewhat Bullish.
The weekly limits are forecast at 1124 - 1156.

This is a forecast fork that may come into play if the Bulls take control.




The Daily MoneySpy just cracked through the zeroline and is Bearish, but on the M60 chart it is barely above the Zero line so it is Bullish.
The Daily PPS remains Bearish.

Woodie's CCI is bullish for both the Daily and the Hourly charts.

In conclusion it would seem we are at a juncture which has yet to be resolved. Watch the forks.




10:00 PST
Expecting a sideways day in the /ES.



The EUR/USD has moved above the expected daily range and appears to be following this Andrews Pitchfork. There is a pivot point at 1.4411 which I expect will provide solid resistance.
There remains a much larger Bear Fork (Pink)which this has been providing a line of resistance since last week Wednesday.


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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