Euro: USD/EUR (EUR=X) gains traction and advances to the mid-1.1200s
The Euro pair may find some upward space on the back of downbeat expected US data and crude upsurge. Investors look forward to April 23 as the UK parliament will reopen after the Easter Recess.
In the near term, the bears seemed to remain under control as the 21-day SMA move coinciding with the pair. On a longer scale, there stays a robust bearish stance for the pair. The significant 100-days and 200-days SMA stood above the EUR/USD making the bears firmer.
There is a robust resistance line of 1.1324 levels awaiting the pair. On the flip side, next support stays near 1.1212 levels.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.14.
The projected lower bound is: 1.12.
The projected closing price is: 1.13.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 23 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 20.9301. This is not an overbought or oversold reading. The last signal was a buy 13 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 47.99. 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 177 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 -25. This is not a topping or bottoming area. The last signal was a sell 2 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 buy 9 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed up 0.001 at 1.126. Volume was 56% below average (consolidating) and Bollinger Bands were 40% narrower than normal.
Open High Low Close Volume___
1.124 1.126 1.123 1.126 60,342
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.13 1.13 1.14
Volatility: 5 6 8
Volume: 112,291 135,316 139,965
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 1.5% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of EUR= (mildly bearish). Our trend forecasting oscillators are currently bullish on EUR= and have had this outlook for the last 0 periods.