Magpie Trader
Sunday, September 18, 2005
Euro next week 19/09/05 >
Positives: There's hisotrically been support around the 1.2150-2200 level.The 50% fib is currently holding.
Price is sitting at the middle bolly line.
Negatives:
The euro has broken the two major up TLs and is currently in a down trend.
The 8 and 17 EMAs have crossed south and RSI has broken support.
Looking at the hourly, there's MACD divergence signalling a north move, but MACD is currently below the zero line.
EMAs are down.
But the week ended on an upturn. There was also a bottom boly band touch on friday -1.2320 is initial resistance, a significant move above will signal a continuation of the uptrend to at least the 1.2550 area.
// posted by Magpie @ 5:57 pm 
