Forex technical analysis

The EUR/USD daily candlestick has formed a bullish Harami. In a downtrend the bullish Harami signifies that the trend is coming to an end as selling appears to have been exhausted. Also a spining top has formed indicating little price action for the trading day. The Parabolic SAR has trigger a buy signal 2 days ago. But yesterday’s close for EUR/USD is
BELOW its 200 daily moving average
BELOW its 50 daily moving average
BELOW its 20 daily moving average
Making the current market condition for Euro Dollar / US Dollar is Very Bearish
On the hourly chart EUR/USD is still heading downwards with focus at fibonacci 261.80% retracement level at 1.26077 which could is a key retracement level. Look for reversal signal aroung this level. If EUR/USD could not hold at this level, EUR/USD will be heading back to test its previous low at 1.20044 formed on 23/07/2012.

EUR/USD DAILYas of Monday, 05 August, 2013
*** Intra-Daily Trading Strategy:BUYEuro Dollar / US Dollar
Buy Target: 1.3286
Buy Stop: 1.3251
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 7 white candles versus 3 black candles with a net of 4 white candles.
The previous 50 candlestick bars, there are 27 white candles versus 23 black candles with a net of 4 white candles.
MACD is BULLISH as the MACD is above the signal line. The MACD crossed above the signal line 16 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 1.59%, and has been fluctuating from a high of 1.333 to a low of 1.300.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish
The most recently confirmed up trendline for Euro Dollar / US Dollar has an ending point currently at 1.28. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
Euro Dollar / US Dollar closed below the upper Bollinger Band by 27.5%. Bollinger Bands are 7.14% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

GBP/USD DAILY as of Tuesday, 06 August, 2013
*** Intra-Daily Trading Strategy:SELLBritish Pound / US Dollar
Sell Target: 1.5341
Sell Stop: 1.5381
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 4 white candles versus 6 black candles with a net of 2 black candles.
The previous 50 candlestick bars, there are 25 white candles versus 24 black candles with a net of 1 white candles.
A doji star has formed where a doji gaps above or below the previous candle. This often signals a reversal with confirmation occurring on the next bar.Three white candles has formed during the last three bars. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
MACD is BULLISH as the MACD is above the signal line as the MACD crossed above the signal line 2 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 0.46%, and has been fluctuating from a high of 1.538 to a low of 1.510.
Stochastic signal was a Sell 5 Period(s) Ago.
The ADX is currently below both Plus and Minus Directional indicators and the Directional Movement Indicators (DMI) currently is not indicating a specific price direction, should not initiate any trades right now.
The last SAR signal was a Sell4 period(s) ago.
The close is currently
BELOW its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Mildly Bearish
British Pound / US Dollar broke above the down trendline at 1.54 today. This is a bullish sign. This down trendline, currently with an ending point at 1.53, now provide downside support. The most recently confirmed up trendline for British Pound / US Dollar has an ending point currently at 1.51. Expect prices to have some difficulty falling below this trendline. A break below this trendline (particularly on heavy volume) would be a bearish sign.
British Pound / US Dollar closed below the upper Bollinger Band by 23.9%. Bollinger Bands are 21.40% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

GBP/USD DAILY as of Wednesday, 07 August, 2013


*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.5279
Sell Stop: 1.5385
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 3 white candles versus 7 black candles with a net of 4 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 25 black candles with a net of 1 black candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 3 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 0.11%, and has been fluctuating from a high of 1.538 to a low of 1.510.
Stochastic signal was a Sell 6 Period(s) ago.
The ADX is currently below both Plus and Minus Directional indicators and the Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Should not initiate any trades right now.
SAR signal was a Buy 1 period(s) Ago.
The close is currently
BELOW its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Mildly Bearish
British Pound / US Dollar appears to be locked in a trading range bounded by upside resistance is around 1.56 and downside support around 1.49.
British Pound / US Dollar closed below the upper Bollinger Band by 38.8%. Bollinger Bands are 24.76% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

GBP/USD WEEKLY as of Monday, 11 March, 2013
A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 22 white candles versus 28 black candles with a net of 6 black candles.

A long upper shadow has formed. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).MACD is BULLISH as the MACD is above the signal line.

The MACD crossed above the signal line 4 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 1.47%, and has been fluctuating from a high of 1.557 to a low of 1.503.

Stochastic signal was a Sell 7 Period(s) Ago.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Should not initiate any trades right now.

SAR signal was a Sell6 period(s) ago.
The close is currently
BELOW its 200 weekly moving average
BELOW its 50 weekly moving average
ABOVE its 20 weekly moving average
The current market condition for British Pound / US Dollar is Bearish
British Pound / US Dollar closed below the upper Bollinger Band by 28.0%. Bollinger Bands are 31.56% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

EUR/USD DAILYas of Tuesday, 13 August, 2013
*** Intra-Daily Trading Strategy:BUYEuro Dollar / US Dollar
Buy Target: 1.3310
Buy Stop: 1.3283
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 27 white candles versus 23 black candles with a net of 4 white candles.

A spinning top has formed which 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.MACD is BULLISH as the MACD is above the signal line.

The MACD crossed above the signal line 22 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 1.81%, and has been fluctuating from a high of 1.340 to a low of 1.300.

Stochastic signal was a Buy24 Period(s) Ago.

The last SAR and Directional Movement Indicators (DMI) signal was a BUY 24 period(s) ago.

The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish. The most recently confirmed up trendline for Euro Dollar / US Dollar has an ending point currently at 1.28. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
Euro Dollar / US Dollar closed below the upper Bollinger Band by 32.0%. Bollinger Bands are 35.14% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices。
Short Term:Neutral
Intermediate Term:Bullish
Long Term:Bullish

GBP/USD DAILY as of Wednesday, 14 August, 2013
*** Intra-Daily Trading Strategy:SELLBritish Pound / Euro Dollar
Sell Target: 1.1640
Sell Stop: 1.1653
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 23 white candles versus 27 black candles with a net of 4 black candles.

A long upper shadow has formed. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).MACD is BULLISH as the MACD is above the signal line.

The MACD crossed above the signal line 6 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / Euro Dollar's price has increased 1.00%, and has been fluctuating from a high of 1.171 to a low of 1.145.

The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition. RSI signal was a Buy 9 period(s) ago.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Should not initiate any trades right now.

There were no SAR signals generated today. The lastSAR signal was a Buy5 period(s) Ago.
The close is currently
BELOW its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / Euro Dollar is Mildly Bearish. British Pound / Euro Dollar appears to be locked in a trading range bounded by upside resistance around 1.19 and downside support around 1.14.
British Pound / Euro Dollar closed below the upper Bollinger Band by 25.1%. Bollinger Bands are 14.46% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

EUR/USD DAILYas of Thursday, 15 August, 2013
*** Intra-Daily Trading Strategy:BUYEuro Dollar / US Dollar
Buy Target: 1.3269
Buy Stop: 1.3246
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 25 white candles versus 25 black candles.

A spinning top has formed which 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.MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 2 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased0.01%, and has been fluctuating from a high of 1.332 to a low of 1.323.

Stochastic last signal was a Buy26 Period(s) Ago.

The RSI has just reached its lowest value in the last 14 period(s). This is BEARISHsignal.The RSI has set a new 14-period low while the price of Euro Dollar / US Dollar has not. This is a BEARISH DIVERGENCE.

The last Directional Movement Indicators (DMI) signal was a BUY 26 period(s) ago.

There were no SAR signals generated today. The last SAR signal was a Sell2 period(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish
Euro Dollar / US Dollar closed above the lower Bollinger Band by 48.6%. Bollinger Bands are 50.69% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 1 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Overall, the bias in prices is: Sideways.


Short term: Prices are stalling.
Intermediate term: Prices are ranging.

GBP/USD DAILY as of Tuesday, 20 August, 2013
*** Intra-Daily Trading Strategy:SELLBritish Pound / US Dollar
Sell Target: 1.5639
Sell Stop: 1.5663
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 24 white candles versus 25 black candles with a net of 1 black candles.

A doji star has formed where a doji gaps above or below the previous candle. This often signals a reversal with confirmation occurring on the next bar.

MACD is BULLISH as the MACDis above the signal line. The MACD crossed above the signal line 12 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 2.38%, and has been fluctuating from a high of 1.567 to a low of 1.510.

The Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition.Stochastic was a Sell 5 Period(s) ago.

The RSI has just reached its highest value in the last 14 period(s). This is BULLISHsignal.

Currently, the Momentum Oscillator is in an overboughtcondition.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Should not initiate any trades right now.

The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish. British Pound / US Dollar broke above the upside resistance level of 1.56, 1 day ago. This is a bullish sign. This previous resistance level of 1.56 now provide downside support. Prices have only risen 0.01% since the breakout. The most recently confirmed downside support level for British Pound / US Dollar is around 1.49. Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy volume) would be a bearish sign.
British Pound / US Dollar closed below the upper Bollinger Band by 12.7%. Bollinger Bands are 16.82% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

EUR/USD DAILYas of Wednesday, 21 August, 2013
*** Intra-Daily Trading Strategy:SELLEuro Dollar / US Dollar
Sell Target: 1.3417
Sell Stop: 1.3432
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 25 white candles versus 25 black candles.

A spinning top has formed which 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.Three white candles has formed during the last three bars. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.MACD is BULLISH as the MACD is above the signal line.

The MACD crossed above the signal line 1 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 0.04%, and has been fluctuating from a high of 1.345 to a low of 1.332.

The Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition. The price of Euro Dollar / US Dollar has set a new 14-period high while the RSI has not. This is a BEARISH DIVERGENCE.

SAR signal was a Buy1 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish
Euro Dollar / US Dollar closed above the upper Bollinger Band by 3.7%. Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that Euro Dollar / US Dollar is in to continue. Bollinger Bands are 50.62% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 5 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.

Euro Dollar / US Dollar is currently 2.3% above its 200-period moving average and is in an upwardtrend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into EURUSD (bullish). Trend forecasting oscillators are currently bullish on EURUSD and have had this outlook for the last 19 periods. The price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

Overall, the bias in prices is: Upwards.


Short term: Prices are stalling.

Intermediate term: Prices are ranging.

GBP/USD DAILY as of Thursday, 22 August, 2013
*** Intra-Daily Trading Strategy:BUYBritish Pound / US Dollar
Buy Target: 1.5638
Buy Stop: 1.5543
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 4 white candles versus 6 black candles with a net of 2 black candles.
The previous 50 candlestick bars, there are 22 white candles versus 27 black candles with a net of 5 black candles.

MACD is BULLISH as the MACDis above the signal line.

The MACD crossed above the signal line 14 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 2.01%, and has been fluctuating from a high of 1.571 to a low of 1.510.

The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition.Stochastic signal was a Sell 7 Period(s) Ago.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction and should not initiate any trades right now.

SAR signal was a Buy12 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish. British Pound / US Dollar broke above the down trendline at 1.55, 11 day(s) ago. This is a bullish sign. This down trendline, currently with an ending point at 1.52, now provide downside support. Prices having only risen 0.67% since the breakout, the validity of the breakout is questionable. The most recently confirmed up trendline for British Pound / US Dollar has an ending point currently at 1.53. Expect prices to have some difficulty falling below this trendline. A break below this trendline (particularly on heavy volume) would be a bearish sign.
British Pound / US Dollar closed below the upper Bollinger Band by 27.4%. Bollinger Bands are 21.49% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

EUR/USD DAILYas of Monday, 26 August, 2013
*** Intra-Daily Trading Strategy:SELLEuro Dollar / US Dollar
Sell Target: 1.3375
Sell Stop: 1.3397
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 26 black candles with a net of 2 black candles.

A spinning top has formed which 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.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 2 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 0.25%, and has been fluctuating from a high of 1.341 to a low of 1.330.

SAR signal was a Buy4 period(s) Ago.

The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 19.2%. Bollinger Bands are 52.93% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 8 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Overall, the bias in prices is: Upwards.


Short term: Prices are stalling.

Intermediate term: Prices are ranging.

GBP/USD DAILY as of Tuesday, 27 August, 2013
*** Intra-Daily Trading Strategy:SELLBritish Pound / US Dollar
Sell Target: 1.5554
Sell Stop: 1.5602
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 23 white candles versus 27 black candles with a net of 4 black candles.

A spinning top has formed which 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.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 0 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has been unchanged, and has been fluctuating from a high of 1.559 to a low of 1.556.

Stochastic signal was a Sell 10 Period(s) Ago.

The Directional Movement Indicators (DMI) currently is not indicating any specific price direction and should not initiate any trades right now.

SAR signal was a Buy15 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed below the upper Bollinger Band by 36.9%. Bollinger Bands are 15.53% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

GBP/USD DAILY as of Wednesday, 28 August, 2013
*** Intra-Daily Trading Strategy:BUYBritish Pound / US Dollar
Buy Target: 1.5548
Buy Stop: 1.5520
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 4 white candles versus 6 black candles with a net of 2 black candles.
The previous 50 candlestick bars, there are 23 white candles versus 27 black candles with a net of 4 black candles.

A spinning top has formed which 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.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 1 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased0.05%, and has been fluctuating from a high of 1.559 to a low of 1.548.

Stochastic signal was a Sell 11 Period(s) Ago.

The RSI has just reached its lowest value in the last 14 period(s). This is BEARISHsignal.The RSI has set a new 14-period low while the price of British Pound / US Dollar has not. This is a BEARISH DIVERGENCE.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction and should not initiate any trades right now.

SAR signal was a Sell1 period(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish. British Pound / US Dollar appears to be locked in a trading range bounded by upside resistance around 1.56 and downside support around 1.49.
British Pound / US Dollar closed below the upper Bollinger Band by 43.5%. Bollinger Bands are 1.84% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

EUR/USD DAILYas of Thursday, 29 August, 2013
*** Intra-Daily Trading Strategy:BUYEuro Dollar / US Dollar
Buy Target: 1.3336
Buy Stop: 1.3310
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 26 black candles with a net of 2 black candles.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 5 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased0.18%, and has been fluctuating from a high of 1.341 to a low of 1.330.

The RSI has just reached its lowest value in the last 14 period(s). This is BEARISHsignal.The RSI has set a new 14-period low while the price of Euro Dollar / US Dollar has not. This is a BEARISH DIVERGENCE.

SAR signal was a Buy7 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Very Bullish. The most recently confirmed up trendline for Euro Dollar / US Dollar has an ending point currently at 1.28. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
Euro Dollar / US Dollar closed above the lower Bollinger Band by 45.4%. Bollinger Bands are 59.08% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 11 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

USD/JPY DAILY as of Tuesday, 03 September, 2013
*** Intra-Daily Trading Strategy:SELLUS Dollar / Japanese Yen
Sell Target: 99.3307
Sell Stop: 99.8903
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 27 white candles versus 23 black candles with a net of 4 white candles.

MACD is BULLISH as the MACDis above the signal line. The MACD crossed above the signal line 10 period(s) ago. Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has increased 2.28%, and has been fluctuating from a high of 99.694 to a low of 96.813.

The Stochastic Oscillator is currently above 80. This is an indication of being in an "overbought" condition.No Stochastic Buy or Sellsignals generated today. The last signal was aBuy15 Period(s) Ago.

The ADX is currently below both Plus and Minus Directional indicators. This should not use to initiate any trades right now.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Because this is a trend following system, it should not use to initiate any trades right now. The last Directional Movement Indicators (DMI) signal was a BUY 131 period(s) ago.

SAR signal was a Buy1 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for US Dollar / Japanese Yen is Very Bullish. US Dollar / Japanese Yen broke above the down trendline at 99.56, one day ago. This is a bullish sign. This down trendline, with an ending point at 98.18 provide downside support. Prices having only risen 0.04% since the breakout. The most recently confirmed up trendline for US Dollar / Japanese Yen has an ending point currently at 96.71. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
US Dollar / Japanese Yen closed below the upper Bollinger Band by 2.4%. Bollinger Bands are 33.66% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Technical Outlook
Short Term:Overbought
Intermediate Term:Bullish
Long Term:Bullish

[justify]EUR/GBP DAILY as of Wednesday, 04 September, 2013[/justify]
*** Intra-Daily Trading Strategy:BUYEuro Dollar / British Pound
Buy Target: 0.8465
Buy Stop: 0.8452
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 3 white candles versus 7 black candles with a net of 4 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 26 black candles with a net of 2 black candles.

A spinning top has formed which 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.Three black candles has formed during the last three bars. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 4 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / British Pound's price has decreased0.91%, and has been fluctuating from a high of 0.859 to a low of 0.845.

The Stochastic Oscillator is currently below 20. This is an indication an "oversold" condition.Stochastic signal was a Buy9 Period(s) Ago.

The RSI has just reached its lowest value in the last 14 period(s). This is BEARISHsignal.

Currently, the Momentum Oscillator does not show an overbought or oversold condition.

The Directional Movement Indicators (DMI) currently is not indicating a specific price direction should not initiate any trades right now.

SAR signal was a Sell2 period(s) ago.
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 / British Pound is Very Bearish. Euro Dollar / British Pound appears to be locked in a trading range bounded by upside resistance around 0.88 and downside support around 0.84. Euro Dollar / British Pound closed below the lower Bollinger Band by 0.8%. This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing. However, a short-term pull-back inside the bands is likely. Bollinger Bands are 20.33% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

EUR/USD DAILYas of Thursday, 05 September, 2013
*** Intra-Daily Trading Strategy:SELLEuro Dollar / US Dollar
Sell Target: 1.3187
Sell Stop: 1.3213
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 3 white candles versus 7 black candles with a net of 4 black candles.
The previous 50 candlestick bars, there are 23 white candles versus 27 black candles with a net of 4 black candles.

MACD is BEARISH as the MACD is below the signal line.

The MACD crossed below the signal line 10 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased1.17%, and has been fluctuating from a high of 1.341 to a low of 1.315.

The MACD is currently not in an Overbought/Oversold range and no divergence signals during the last 5 periods.

The Stochastic Oscillator is currently below 20. This is an indication of an "oversold" condition.

Directional Movement Indicators (DMI) and SAR signal was a SELL5 period(s) ago.

The close is currently
ABOVE 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 Mildly Bullish
Euro Dollar / US Dollar closed above the lower Bollinger Band by 14.3%. Bollinger Bands are 30.63% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Technical Outlook
Short Term:Neutral
Intermediate Term:Bearish
Long Term: Bullish

EUR/USD WEEKLY as of Monday, 09 September, 2013
A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 26 white candles versus 23 black candles with a net of 3 white candles.

A spinning top has formed which 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.

MACD is BULLISH as the MACDis above the signal line.

The MACD crossed above the signal line 7 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased0.79%, and has been fluctuating from a high of 1.345 to a low of 1.310.

Stochastic signal was a Sell 1 Period(s) Ago.

The ADX is currently below both Plus and Minus Directional indicators. The Directional Movement Indicators (DMI) currently is not indicating a specific price direction and should not initiate any trades right now.

SAR signal was a Buy6 period(s) Ago.
The close is currently
BELOW its 200 weekly moving average
ABOVE its 50 weekly moving average
ABOVE its 20 weekly moving average
The current market condition for Euro Dollar / US Dollar is Mildly Bearish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 44.8%. Bollinger Bands are 50.97% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 13 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Overall, the bias in prices is: Sideways.


Short term: Prices are stalling.

Intermediate term: Prices are ranging.

GBP/USD DAILY as of Tuesday, 10 September, 2013
*** Intra-Daily Trading Strategy:SELLBritish Pound / US Dollar
Sell Target: 1.5685
Sell Stop: 1.5710
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverseafter exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 26 white candles versus 24 black candles with a net of 2 white candles.
A bearish harami has formed where the current small black body is contained within an unusually large white body. During an uptrend(which is the case with British Pound / US Dollar) this pattern implies an end to the rally as the bulls appear to have exhausted.
During a downtrend the bearish harami pattern is bullish as the bulls appear to be gaining strength as the bears weaken.

A spinning top has formed which 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.

MACD is BULLISH as the MACDis above the signal line. The MACD crossed above the signal line 1 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased0.04%, and has been fluctuating from a high of 1.573 to a low of 1.563.

The Stochastic Oscillator is currently above 80. This is an indication of being in an "overbought" condition.

The Directional Movement Indicators (DMI) currently is not indicating any specific price direction and should not initiate any trades right now.

SAR signal was a Buy3 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Very Bullish. British Pound / US Dollar broke above the upside resistance level of 1.56, 1 day(s) ago. This is a bullish sign. This previous resistance level of 1.56 now provide downside support. Prices having only risen 0.04% since the breakout. The most recently confirmed downside support level for British Pound / US Dollar is around 1.49. Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy volume) would be a bearish sign.
British Pound / US Dollar closed below the upper Bollinger Band by 7.4%. Bollinger Bands are 56.68% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to British Pound / US Dollar's normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 6 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.