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Sunday, January 17, 2010

Sunday

Equities are in a stalemate. There is a possibility of goimg to 1160 but 1120 and the all important 1094 need to be broken. The numbers are still telling me that a sideways market will continue, but if these important levels are broken the Bears will dance.

We have broken through all the upward forks, so my inclination for the EUR/USD is bearish. This is the Daily chart but Stochastic for many of the lower chart periods have an up trending bias going on.



On the other hand Price is below all the Kumos save this Weekly kumo which has a vulnerable spot for the Bears to take advantage of. I believe this is only half a fork, but look where it's pointed! As this fork develops I believe we will be obliged to add more tines.


Below is a 15 minute chart of the EUR/USD . The lower graph shows the weekly limits the top graph shows the daily forecast with the Ichimoku. DDF is indicating a Bearish Bias today, as is the Ichimoku.





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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