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Kumowizard
Feb 9, 2015 8:51 AM

EUSTOXX50 - Watch short term key supports. Correction down Short

Euro Stoxx 50 index of European listed sharesFXCM

Description

Daily:
The picture shows a possible bearish swing ahead.
- Two doji-like Heiken Ashi candles followed by one clear red with no upper wick
- haDelta is below SMA3, both lines dropped below zero
- HA Oscillator is bearish too

Possible retracement tgt is 3200-3220

4 Hrs:
On the lower time frame the picture is still neutral, but with increasing bearish bias.
- Price is still above the Kumo and 100WMA, but below Tenkan and Kijun lines. The Kumo is thick below Price.
- Chikou Span is till neutral, swinging around Price candles
- Weak bearish Tenkan/Kijun cross
- HA candles are bearsih, haDelta further down with SMA3 below zero line
- DMI bearish signal with ADX start to increase

The mkt has less power now. We can try to sell smaller spikes and/or the break of key horizontal level at 3320.
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