Euro: USD/EUR (EUR=X) main trend is up
The main trend is up but since changing trend on December 20, the Euro has been under pressure. A trade through 1.1487 will signal a resumption of the uptrend while a move through 1.1270 will change the main trend to down.
The minor trend will change to down on a trade through 1.1355. This will also shift momentum to the downside.
The Euro is trading lower shortly after the U.S. opening on Wednesday. The single-currency is giving back earlier gains in response to a rebound in U.S. equity indexes. The move is encouraging investors to shed their safe-haven currencies, helping to push the U.S. Dollar higher against a basket of currencies including the heavily-weighted Euro. A thin post-holiday trade due to bank holidays in Germany and Italy could also be contributing to the selling pressure.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1.15.
The projected lower bound is: 1.12.
The projected closing price is: 1.14.
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 26 white candles and 24 black candles for a net of 2 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 9.1570. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 21 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 48.63. 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 95 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 4 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 29 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed up 0.000 at 1.136. Volume was 96% below average (consolidating) and Bollinger Bands were 58% narrower than normal.
Open High Low Close Volume___
1.135 1.136 1.135 1.136 5,183
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.14 1.14 1.17
Volatility: 7 8 8
Volume: 122,746 143,134 140,188
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 2.7% 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 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 15 periods.
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