Tuesday, April 29, 2008

EURJPY 29APR

EURJPY 29APR

DAILY
- downtrend still supported by the candlestick formation of 3 black crows
- market is ranging yesterday, breaking support is expected for today
- MACD confirmation is needed

H4
- testing support at 162.80
- result in pull up if support is not broken
- RSI indicates bearish as the main trend
- minor uptrend wave is expected

H1
- SIDUS system triggered SELL signal
- signal strengh 60%
- best position to enter is after the downward rejection of RSI5

M30
- trend is not confirmed. follow on signal of M5
- any breaking on the ranging market will set the movement of the market before NY session.