The current SSI reading and RPM are in the low 1's. This indicates there are slightly more buyers for every seller.
Although this is not a high ratio, the change in the trend is significant.
You can see in the chart below that the EurUsd is making new lows.
The RPM (also known as the herd indicator) has gone from showing a net sell position on April 5th to a net long as traders add to their long positions trying to pick bottoms.
My 2c's on UsdCad coming up after intermission.
Live herding charts avail here.
http://i260.photobucket.com/albums/i...8D9C/image.png
Although this is not a high ratio, the change in the trend is significant.
You can see in the chart below that the EurUsd is making new lows.
The RPM (also known as the herd indicator) has gone from showing a net sell position on April 5th to a net long as traders add to their long positions trying to pick bottoms.
My 2c's on UsdCad coming up after intermission.
Live herding charts avail here.
http://i260.photobucket.com/albums/i...8D9C/image.png