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Saturday, May 15, 2010

Saturday

The Weekly Chart ended with an Inverted Hammer creating a Bullish Harami. This is not the strongest of patterns, but if next week gaps up or even finishes with a White Candle Stick the Bulls will have a second chance.

The Weekly Kumo remains below near 1025, with a Bullish cross which is close to parity

On the Daily Chart, Friday's Black Marubozu
gave the Bears the confirmation they wanted.

The Forks are holding and showing us the trend and range.

The Ichimoku shows Price afloat within the 1020 to 1065 range of the Daily Kumo with Price near the Bearish Cross.

Persons Pivots are somewhat Bearish with a
Monthly range of 1000 to 1206 and a
Weekly range of 1092 to 1165.

Overall I see this as Bearish with caution.
The Daily Kagi Chart shows a Bearish trend and 1175 as the turning point.

Daily Kagi
Hourly Kagi


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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