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Wednesday, January 20, 2010

Wednesday

13:00 PST




11:30 PST
The market is acting as expected. Both the EUR/USD and the /ES are traveling within their downward forks.

The bears are gaining control but need to keep Price below 1136 /ES and 1140 SPX. The Kumo is weak and should it be tested there is a good chance that the Bulls could regain control. While I doubt that will happen it's important to keep an eye on.


The red line in the chart above is the EUR/USD
Notice how we have returned to the expected daily range.




07:39 PST

DDF is bearish with a daily range of 1129 to 1139.
The extended range is 1120 to 1159.
M60 MoneySpy is Bearish
Price is below the M60 Kumo but even though the Tenkan-sen and Kijun-sen have crossed they remain above the cloud.


The EUR/USD continues in downward fork the fork.
More updates to follow.



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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