Thursday, 28 July 2011

EurUsd-still lower i think?

I have added the blue almost horizontal fork to this long term study. A somewhat weak bounce off the CL today but i am yet to be convinced that price will break into the 1.4350 range
The black MT4 template shows the same fork( white) PLUS REACTION LINES but in 1 and 5 min. Horizontal forks have greater power viz a viz reaction/warning lines contained by them.
There are no trend lines or MPL's or any arbitary lines added. All lines in red are reaction or warning lines drawn automatically by the cutsom indicator but some lines have to be re-drawn in lower time frames as they do not show up if from daily forks hence the unextended redrawn red line in the black MT4 charts at the bottom.

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