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Friday, March 26, 2010


23:00 EST

Once again Friday closes in a delicate position.
The candlesticks ended with a Bullish Homing Pigeon Pattern.
The buy signal requires a white candle on Monday so short positions need to be very careful

While I have not put Elliott Wave labels on the next chart it's seems clear that Bearish Elliott Wave traders will be expecting a sharp drop into a third wave.

The Andrews Pitchfork shows a very clear trend.
PPS is Bearish.
The MOBO is Bearish.
The Mobo'd Detrended Price Oscillator is Bearish (Bottom sub-graph)
and the Ichimoku has a Bearish Cross but Price has yet to break below the Kumo which has a flat bottom at 1156.
Notice how Price bounced off the aura of the Kumo.
This Kumo may offer support, but the first few hours of Monday do not present an especially strong Kumo.

The Kagi chart continues to be Bearish.

The Pivots are expecting a Bearish Monday

11:15 EST

DDF has a bullish bias

Analysis presented on this Blog has only informational, and educational purpose, and does not represent a proposal for buying or selling currency contracts.

1 comment:

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