Euro: USD/EUR (EUR=X) trying to bounce from Lows
The Euro has initially pulled back during the trading session on Thursday but has bounced a bit as the Americans came on board. At this point, it’s not necessarily something that you can jump into, but it is something that you should be looking at as an opportunity to sell on signs of exhaustion.
The 50 day EMA is above and tilting lower. It is the previous resistance, and it’s likely that it will be again going forward. The resistance is just as reliable as the short-term support has been, but I do think that longer-term this pair does eventually break down.
Overall, the bias in prices is: Downwards.
The projected upper bound is: 1.10.
The projected lower bound is: 1.08.
The projected closing price is: 1.09.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 18 white candles and 31 black candles for a net of 13 black 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 17.6037. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 16 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 36.06. 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 17 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 -222.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 16 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 1 period(s) ago.
Rex Takasugi – TD Profile
FOREX EUR= closed down -0.002 at 1.092. Volume was 6% below average (neutral) and Bollinger Bands were 23% narrower than normal.
Open High Low Close Volume___
1.094 1.097 1.091 1.092 75,494
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.10 1.11 1.12
Volatility: 8 6 6
Volume: 71,648 82,048 108,369
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 2.9% below its 200-period moving average and is in an downward trend. Volatility is high 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 57 periods.
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