Sunday, March 14, 2010

Week Open Mar 14 - 19

Gold:

Breaking a trend line and the price level below 21 EMA and 100 SMA. Key resistance moving upwards 1110.37

See Daily Chart:









EUR/USD

Broke key levels and now finding resistance at 1.3777.
We might see bullishness in the pair see weekly chart. The decision candle was a bullish one.
Pair should find support at 1.3726 and or 1.3691.
Very busy week for Dollar so I will be watching S&P, Oil, Dj and Dollar index before taking any positions.

1.3777 break and retest is a go for a long for me . See weekly chart as 1.3887 is the next target.
However, pair might see some retracment.
See Weekly chart:











Weekly Goals:

1: Stay Consistent and minimize risk.
2: Focus on momentum and price action as well as other references before taking positions (Short term)

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