Euro: USD/EUR (EUR=X) steady after sharp bounce
The sharp rally yesterday has seen the EUR/USD pair move solidly above $1.15. Further gains target the 200-day simple moving average (SMA) at $1.1639, just above the mid-October peak at $1.162.
If this current move higher marks the end of the $1.13-$1.15 trading range, then we look to the $1.1852 highs from the middle of 2018 as the next longer-term target. Having seen a series of higher lows since the beginning of the month, new higher lows above $1.145 would mark possible buying opportunities.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 1.17.
The projected lower bound is: 1.13.
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 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 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 79.0662. 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 57.49. 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 105 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 148.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 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 buy 39 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed down -0.004 at 1.150. Volume was 7% above average (neutral) and Bollinger Bands were 6% narrower than normal.
Open High Low Close Volume___
1.154 1.157 1.148 1.150 147,952
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.14 1.14 1.16
Volatility: 10 9 8
Volume: 111,499 141,344 140,342
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 1.1% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. 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 25 periods.
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