Euro: USD/EUR (EUR=X) Looking To Bounce
The Euro has rallied a bit during the trading session on Thursday, bouncing from the 50 day EMA. The market has formed a couple of hammers ahead of this, but it is difficult to read too much into that as it would have been holiday trading. At this point, the market is very noisy, and it will continue to be. The 200 day EMA above is starting to slope lower, while the 50 day EMA is starting to slope higher. This is a very noisy and compressed trading, and as a result I don’t think you’re going to get too much in the way of momentum one way or the other.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 1.11.
The projected upper bound is: 1.12.
The projected lower bound is: 1.10.
The projected closing price is: 1.11.
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 27 white candles and 21 black candles for a net of 6 white candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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 46.7031. This is not an overbought or oversold reading. The last signal was a buy 2 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 51.93. 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 83 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 -44. This is not a topping or bottoming area. The last signal was a sell 7 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 1.110. Volume was 100% below average (consolidating) and Bollinger Bands were 49% narrower than normal.
Open High Low Close Volume___
1.110 1.110 1.109 1.110 55
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.11 1.11 1.11
Volatility: 3 4 5
Volume: 42,316 60,803 82,928
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 0.4% below its 200-period moving average and is in an upward 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 bullish on EUR= and have had this outlook for the last 12 periods.