This is in continuation with http://karunakarp.blogspot.com/2012/01/daily-analysis-eurusd-3-jan-2012.html. The price has been falling for last 3 days.
The price is about to reach bottom end of the channel on 4 hr chart (same can be seen on 8 hr chart). We can expect either temporary rally up or consolidation for some time. It will be clear in coming sessions.
In the second scenario, if the price manages to break below 1.2600 in Europe session, it could accelerate towards 1.2000.
Coming few sessions would give us direction for the trade bias.
2 hour chart...
Little more detailed 2 hr chart
1 hour chart...
The price is about to reach bottom end of the channel on 4 hr chart (same can be seen on 8 hr chart). We can expect either temporary rally up or consolidation for some time. It will be clear in coming sessions.
In the second scenario, if the price manages to break below 1.2600 in Europe session, it could accelerate towards 1.2000.
Coming few sessions would give us direction for the trade bias.
2 hour chart...
Little more detailed 2 hr chart
1 hour chart...
No comments:
Post a Comment