12th March 2015 – Technical Outlook


FROM HERE: buy at market (or around 0.7580 for patient traders) to target 0.7650 then 0.7700

BUT: below yesterday’s low (0.7560) may see bears come back in force push it below 0.7500

COMMENT: seeing bullish divergence on hourly, 4hrly and 8 hrly with other bullish reversal indicators (short term only as pull back)



FROM HERE: ‘evening star’ didn’t happen so resume long position: buy around 120.90 to test 122.00 again

BUT: below 120.50 may see commencement of retracement

COMMENT: at these levels, don’t be too aggressive on the longs just in case retracement occurs.



FROM HERE: Sell at market or 1.0574 to target 1.0518 then sub 1.0500

BUT: above 1.0600 may see it squeeze up to 1.0634 (Fib level)

COMMENT: Momentum looks strong for the bears and should continue its downward drive



FROM HERE: sell at market or around 1.4987 for patient traders to target 1.4887 then 1.4844

BUT: 1.5020 is now resistance and if taken out may see it back towards 1.5100 on short squeeze

COMMENT: no reversal signal can be seen so staying short for now



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