10th March 2015 – Technical Outlook.


FROM HERE: Cautiously sell around 0.7735 and again around 0.7750 to target 0.7643 this week

BUT: square all positions if 0.7780 breaks and re-assess.

COMMENT: “cautious” because we have a spinning top formed overnight which means indecision of next direction



FROM HERE: buy around 121.00 and again around 120.60 to target 121.83 then 122.00 and above

BUT: below 120.40 may trigger short term stops which may lead to 119.80 area

COMMENT: higher highs and higher lows formed on daily chart supported by bullish indicators so don’t get short.



FROM HERE: sell around 1.0877 to target 1.0783 then 1.0760 area

BUT: above 1.0930 should see short term stops triggered. If that happens, re-assess to see if to go long

COMMENT: Bullish divergence is forming on the daily chart but need more reversal signals for confirmation.



FROM HERE: cautiously sell around 1.5150 to target 1.5028 for start

BUT: major resistance is around 1.5254 so consider reversing position if that breaks

COMMENT: Show caution because we see a Harami pattern formed on the daily overnight. First sign of reversal.



Leave a Reply

Your email address will not be published.