Wednesday, August 26, 2009

Market Update - Aug 26th '09

ES seems to have trouble passing 1032 and buyers might just give up and let sellers lead the game at least for now. We'll check 1024 for a possible drop to the Fib levels around 1013 and then 1000.
Again (cf. previous posts), this is only normal hesitation and the longer term trend remains fairly bullish (same targets).
Same story for TF.

EURUSD: our support area mentioned yesterday is still valid. Prices could land there for a while and then bounce back. One might not get to 1.4646 straight away, but 1.4373 then 1.4404 are plausible targets.

( posted 6:20 AM UK )

NB: There will probably be no post on Friday morning.