I dare to say consolidation stills in an oversold market moved between hope and fear, long term trends are quite difficult to forecast with so much uncertainty, let's move by technicals and welcome any bear or bull indication without any favoritism.
In the daily chart we got a blue H.Ashi but it got rejected pretty hard at 1.35, risk-on sentiment seems very fragile, ADX still strong at 40.48 to the downside, MACD is oversold and Williams %50 still indicates a strong downtrend, I spotted a downtrend channel also that could target 1.30 between this and the next week.
4H chart is showing pretty nice short-term trends that could have worket better if I joined the dailys, there's no significant pattern in this tf.
1H Chart shows remains quite choppy but an uptrendline looks very promising, which brings a buying opportunity around 1.3350
On Sunday October 9th, 2011 at 09:00PM by virgiliolayug - Like - 0 People
1.3350 held pretty nicely to start this week. did you buy?
On Sunday October 9th, 2011 at 09:03PM by IamXavi - Like - 0 People
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