Showing posts with label Double bottom pattern. Show all posts
Showing posts with label Double bottom pattern. Show all posts

Tuesday, October 30, 2012

NZDUSD 20121031

NZDUSD is found near resistance zone 

Support & resistance level are drawn in red and blue color in the charts 
if Pair break above 0.8240 then pair may test resistance @0.8374
Alternate view pair has most rejecting level @ 0.8240  if pair breaks below trendline then it will be temporary downside towards support in blue



Monday, October 22, 2012

EURUSD has formed three patterns for bullish

EURUSD has formed three patterns

1. Triangle pattern

2. double bottom pattern

3. regular bullish divergence

Above pattern has formed above trendline and RSI(14) IS ABOVE 50

i feel fed will not change it's policy before presidential election in US on November 6, 2012

LONG TERM VIEW IS BULLISH TOWARDS 1.3300 BEFORE MID NOVEMBER


please refer chart below