Euro: USD/EUR (EUR=X) continues to gain
A steady push higher continues for EUR/USD, with some early weakness this morning a possible buying opportunity.
Further gains above the 50-day simple moving average (SMA) of $1.1586 would indicate a move towards $1.17 and then key resistance around $1.18. A close below $1.15 reinvigorates the bearish case.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.17.
The projected lower bound is: 1.14.
The projected closing price is: 1.15.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 78.3835. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.99. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 42 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -16. This is not a topping or bottoming area. The last signal was a buy 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 11 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed down -0.001 at 1.155. Volume was 100% below average (consolidating) and Bollinger Bands were 29% wider than normal.
Open High Low Close Volume___
1.156 1.156 1.153 1.155 219
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.15 1.16 1.19
Volatility: 7 8 9
Volume: 114,551 133,487 138,461
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX EUR= is currently 3.1% below its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of EUR= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on EUR= and have had this outlook for the last 8 periods.
Latest posts by HEFFX Australia (see all)
- Tesla (NASDAQ:TSLA) Stock Technicals and Charts - November 27, 2020
- Amazon (NASDAQ:AMZN) Stock Moving Up, Stock Analysis and Charts by Metastock - November 27, 2020
- Should You Be Buying Apple (NASDAQ:AAPL) Stock Right Now? - November 27, 2020