Daily
Price are below the cloud. The 2 sen are sitting below the cloud, and are in downtrend.
The chinkou Span is below both prices and cloud.
The trend is bearish.
The 2 EMA are still showing uptrend, but the gap became thiner.
The MACD and RSI are in selling area
Be short @1.1205 for a test of parity.
By Fibo from 21/11/08 @ 1.2296 and 29 Dec 08 @ 1.0364
we have
38.2% 1.1094
50% 1.1320
61.8% 1.1555
Be short @1.1205 SL 1.1480, I am reducing our SL as it s too wide, and above this level there will be more room to go to retest 1.23 and the top of the chanel(long term)
Current price 1.1130
Weekly
We are in a chanel which I described on the analysis of the 14 Dec.
Prices are above the cloud, under the Kijun sen. The 2 sen are showing uptrend as
Tenkan sen > Kijun sen. Chinkou Span is below the cloud but above prices.
It s mix signals even if it slightly bullish.
The 2 EMA are showing downtrend as EMA 200(1.1858) > EMA 50( 1.1159)
We closed the week under the EMA 50.
MACD is moving to his neutral point , while RSI is sitting on his neutral signals.
On Fibo we reached from 16 Nov week @ 1.2296 and 28Dec 2008 week @ 1.0364
38.2% 1.0896
50% 1.3232
61.8% 1.1550
Monthly
We are working under the cloud, the 2 sen are at the crossing, but are at the same level.
The Chinkou Span is both under the cloud, and price.
All ichimoku instruments are showing downtrend.
The 2 EMA are showing downtrend, MACD is showing a bullish divergence, while RSI is in selling territory.
On the fibonacci from the March 08 low @ 0.9636 and Neovember high @ 1.2296 we retraced on December 61.8%. We retraced in one month what we made four month to reached.but since the low we bounced(cf weekly and daily)
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