EUR/USD DAILY as of Monday, 08 April, 2013
A Daily black body has formed (because prices closed lower than they opened).
A Daily long upper shadow has formed. This is typically a bearish signal.A Daily spinning top has 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.
Directional Movement Indicators (DMI) signal was a BUY day ago.
SAR generated a Buy signal last Friday. If short, this might be a good place to exit.
The close is currently
BELOW its 200 daily moving average
BELOW its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bearish
Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Elliott Waves High Volatility has detected an Isolated Low at 1.28 one bar ago ; this is usually a bullish sign
Euro Dollar / US Dollar is long term Bearish as the 144 days moving average of 1.30 is decreasing. The Relative Strength Index is at 47.22 in the neutral territory. The Relative Momentum Index is at 29.06 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.01, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 91.52. This value is in the overbought territory.
Intrady trading for Monday, 8 April, 2013: Sell EUR/USD and profit target at 1.2868 with stop loss at 1.3091.
R3 1.3229
R2 1.3091
R1 1.3006
Pivot 1.2953
S1 1.2868
S2 1.2815
S3 1.2677
A Daily black body has formed (because prices closed lower than they opened).
A Daily long upper shadow has formed. This is typically a bearish signal.A Daily spinning top has 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.
Directional Movement Indicators (DMI) signal was a BUY day ago.
SAR generated a Buy signal last Friday. If short, this might be a good place to exit.
The close is currently
BELOW its 200 daily moving average
BELOW its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bearish
Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for Euro Dollar / US Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Elliott Waves High Volatility has detected an Isolated Low at 1.28 one bar ago ; this is usually a bullish sign
Euro Dollar / US Dollar is long term Bearish as the 144 days moving average of 1.30 is decreasing. The Relative Strength Index is at 47.22 in the neutral territory. The Relative Momentum Index is at 29.06 in the oversold territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.01, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 91.52. This value is in the overbought territory.
Intrady trading for Monday, 8 April, 2013: Sell EUR/USD and profit target at 1.2868 with stop loss at 1.3091.
R3 1.3229
R2 1.3091
R1 1.3006
Pivot 1.2953
S1 1.2868
S2 1.2815
S3 1.2677
Attached Image(s) (click to enlarge)
