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Today's Market Outlook

Discussion in 'Technical Analysis' started by Kaitlin, May 25, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Strong bearish signal was generated by yesterday's long red daily candle. Weakness cracked daily Ichimoku cloud base at 1.1142 and hit fresh low at 1.1131. Near-term action is in narrow consolidation mode under initial barrier at 1.1162 (daily 100SMA). Focus is at 1.1123 (Fibo 61.8% of 1.0820/1.1614 rally) and 1.1101[​IMG]

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