EurUsd Daily Bearish Gatley

Pair: Eur Usd Bearish Gatley
Date : 25/07/2011
News:
Italian Consumer Confidence
Actual -
Forecast 5.60
Previous 5.70

Date: 26/07/2011
The Gfk German Consumer Climate measures the level of consumer confidence in economic activity.
The reading is concluded from survey of about 2,000 consumers.
It is a leading indicator as it can predict the consumer spending, which is a major part in the total economic activity. Higher readings point to higher consumer optimism.
A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.


Technical’s:
Presently Mr price has Broken out above 55DMA and 200DMA
Breach of Poseidon Warning Line
Mr Price is within a Daily Wedge XA High Low Pattern on the Daily just below the Daily falling Trend Line
High Stochastics
OBV: Correctively fallin
RSI: Still BUllish
MACD:Rising

Strategie 1 : Presently in Play Bearish Gartley  and then a  possiable Bullish Rebound
If Breakout zone will Hold 1.4291 to 1.4257

Strategie 2: Short positions below 1.44 with targets @ 1.4325 & 1.429 in extension.

Alternative scenario: Above 1.44 look for further upside with 1.444 & 1.45 as targets.

Comment: the RSI is mixed with a bearish bias.


Success %:  77% success

Elwave Scernrio

News:


Strategies Update

Eur has dropped Pass the 1.4444 support allowing the 4rh Bearish Gartley back in Play for a drop down to 1st target 1.4389 2nd Target 1.4303


...........................................................