Thursday 10 March 2011

EURUSD + USDX+ soybeans

The orange dashed line is a trigger line from both available low pivots for the orange fork which had a centre line failure during the European morning trading session today.










The charts below maybe a bit confusing but check back to my earlier posts on beans as i have been bearish for weeks and in particular this week. I am now flat having traded only beans
(not on MT platform) yesterday and hence was too busy to post. Should see a bounce today at 1310-1318 but suggest we will then see price go to 1290-00 in the short term then perhaps a period of sideways movement before breaking lower to take out previous low at 1280-00. Current RT from recent high is 23.6%.







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