Euro: USD/EUR (EUR=X) Exchange Rate Rises 0.3% despite German Industrial Slowdown
The euro currency is correcting higher against the U.S. Dollar on Tuesday, as the U.S. Dollar Index starts to pullback from a two-week trading-high. The/ pair performed a bearish daily price-close below the November 2017 trading-low, at 1.1553 on Monday, marking the euro’s lowest daily price-close since late May this year.
Looking deeper at the technical for the EUR/USD pair, we can see that bears have failed to perform two daily price-closes below the 1.1553 level since July last year, adding to importance of today’s daily close.
Recent EUR/USD exchange rate losses mean that this is a recovery rather than a fresh high for the Euro; support has come from a weaker US Dollar.
On the Eurozone side, the latest German economic data has proved unsupportive and limited the latest EUR/USD exchange rate gains.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1.18.
The projected lower bound is: 1.14.
The projected closing price is: 1.16.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
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 31.1325. This is not an overbought or oversold reading. The last signal was a buy 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 43.61. 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 50 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 -75. This is not a topping or bottoming area. The last signal was a buy 0 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 4 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed down -0.000 at 1.160. Volume was 97% below average (consolidating) and Bollinger Bands were 40% narrower than normal.
Open High Low Close Volume___
1.160 1.160 1.159 1.160 4,699
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.16 1.17 1.20
Volatility: 7 9 8
Volume: 122,513 148,147 130,334
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 3.2% below its 200-period moving average and is in an downward trend. Volatility is relatively normal 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 2 periods.