Date: 27/11/2012
Bias: Bearish
The longer term trend appears to be bearish (Daily Chart 1). The trend had retraced and broke the rising trendline T1. This T1 should and would prove to be resistance. The daily price rose to T1 and showing reversal candlestick pattern at T1 (Daily Chart 2). And also we have potential head and shoulder pattern.
We will go short at 0.8070 against 0.8120 as stop-loss and first target would be 0.7980
Bias: Bearish
The longer term trend appears to be bearish (Daily Chart 1). The trend had retraced and broke the rising trendline T1. This T1 should and would prove to be resistance. The daily price rose to T1 and showing reversal candlestick pattern at T1 (Daily Chart 2). And also we have potential head and shoulder pattern.
We will go short at 0.8070 against 0.8120 as stop-loss and first target would be 0.7980
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| Daily Chart 1 |
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| Daily Chart 2 |
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| 4hr Chart |
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