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Friday, February 12, 2010

Friday

08:30 PST
DDF is indicating a Neutral to Bearish Bias for today.

MoneySpy is bearish on both the daily and hourly charts, but both are indicating a possible short term bottom.

PPS is bearish

The Ichimoku is bearish with heavy resistance at 1075 from both the M60 Tenkan-sen and the Daily Kumo. Yesterday price was rejected at the bottom of the daily Kumo after breaking above the 1075 zone of resistance. This level is almost certain to stymie any further attempts.

But the Ichimoku is also letting us know that the market is not as bearish as it may appear. The M60 Kumo is offering support and the Kijun-sen has yet to descend from the daily Kumo.

The Cyan Andrews Pitchfork has not been significantly violated and remains viable.
The bottom line is the bears need to be careful.

08:00 PST






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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