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Paul Koszarny · 10-04-2003, 09:39

We have seen a sharp rejection on approach to the last Fibo retracement on today's model hour 14:00-15:00. Negative divergences on stochastics and RSI are visible on M60 charts. Therefore below 1.0805 selling pressure will mount. But I would be cautious here because the movement coincided with the announcement of US statistics and it's possible the market overreacted as usual. I moved stop higher to preserve some profit. DAX waiting for an action below resistance 2749. Warsaw futures -2.36% below local high following bifurcation from Monday.

10-04-2003, 09:39	#16
Paul Koszarny Super Moderator Join Date: Nov 2002 Posts: 322 Downloads: 0 Uploads: 0 Rep Power: 0	EUR/USD rejected near 61.8%? We have seen a sharp rejection on approach to the last Fibo retracement on today's model hour 14:00-15:00. Negative divergences on stochastics and RSI are visible on M60 charts. Therefore below 1.0805 selling pressure will mount. But I would be cautious here because the movement coincided with the announcement of US statistics and it's possible the market overreacted as usual. I moved stop higher to preserve some profit. DAX waiting for an action below resistance 2749. Warsaw futures -2.36% below local high following bifurcation from Monday.