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Friday, May 13, 2011


Notice how the EUR/USD failed to touch the top tine of this fork.
This is a sign of weakness.
Monday should bounce off the lower tine.

The fork in the chart above is positioned by sight, the one below is positioned on the 0.618 fan line. I tend tl go with the one I placed by sight.

Today's Long Black Candlestick is engulfing and creates a bearish setup. A close below today's close would be a sell signal.

Here's my best guess at the way next week will begin. I'm feeling like the Bulls will take over. But the Bears will soon pounce... maybe by the end of the week. Of course the trend lines are strongly supporting the market. We are on the cusp, and any down move could pull a big plug on the stops.

Here's an interesting bar. I'm keeping an eye on this level.

Sorry about the late post. Had some trouble with Blogspot.

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