EUR/USD Continue or Revesal? Key Pivot at 1.4150

Indicators :

– RSI : Period 14 with 30 level as oversold and 70 level as overbought.

– The 4X1, 2X1, 1X1, 1X2 and 1X4 Gann Angels.

– Simple Moving Average Period 50 on the chart.

  • The Euro re-testing again 50% Gann, range from hight 1.60xx(2008.07.15) to low 1.23xx(2008.10.27) pivot level. Thus, market would be stop rally in Daily timeframe. Let’s take a look at my chart below;
EURUSD Daily May 27, 2011

Daily Chart

  • We saw the market false breakout 50% pivot meanwhile begin falling to 0% pivot or almost let’s take a look at 38.2, 50.0, 61.8 Fibonacci level under 50% Gann as probably target.
  • RSI Momentum indicate in bearish direction, market price still below SMA-50 period are support trend reversal confirmation this time.