Tuesday 21 June 2011

Analysis for this week...


Price is once again at a make or break level, you can see how 1.4300 has been the line in the sand for May and June so far. This is an 8hr TF chart, you can see that the previous HA candle closed bullish and that the current candle is bullish so far but look at the RSI, the current swing is weaker than the previous swing, from June 16th lows.

For now bets are off, i'm waiting for the market to show where it wants to go next, a re-test of 1.4500 isn't that far from current price and neither is s re-test of the 1.4070's to tap the round number (1.4000)....time will tell and time to be patient, again :)

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