Wednesday, February 9, 2011

EURUSD sideline at support


EURUSD is sideline near support. The price did not move much yesterday as there are no clear trend. The pair may form a abc correction after the 5 wave move. The support is at 1.3600 level and resistance is at 1.3700.


The daily candle show a up candle and a morning star formation. From the candlestick formation, the chart show that the price should go up. However, the price should break above the descending trendline for confirmation. The support is at 1.35 and resistance is at 1.3760. 



By The Backyard Burner

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Fear of failure

Fear of failure