Forex technical analysis

EUR/USD WEEKLY as of Monday, 03 March, 2014
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 29 white candles versus 21 black candles with a net of 8 white candles.
MACD is BEARISH as the MACD is below the signal line. The MACD crossed below the signal line 8 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 0.85%, and has been fluctuating from a high of 1.382 to a low of 1.348. The MACD is currently not in an Overbought/Oversold range.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 11 period(s) Ago.
The close is currently
ABOVE 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 Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 32.9%. Bollinger Bands are 64.38% 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 14 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
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.
Elliott Waves High Volatility has detected an Isolated High at 1.38 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.33 is increasing. The Relative Strength Index is at 55.74 in the neutral territory. The Relative Momentum Index is at 65.20 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.02, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 59.59. This value is in the neutral territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

USD/JPY DAILY as of Tuesday, 04 March, 2014

*** Intra-Daily Trading Strategy: BUY US Dollar / Japanese Yen
Buy Target: 101.7283
Buy Stop: 101.2557
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 reverse after 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 28 white candles versus 22 black candles with a net of 6 white candles.
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, US Dollar / Japanese Yen's price has increased 0.17%, and has been fluctuating from a high of 101.695 to a low of 101.196.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Sell 1 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 US Dollar / Japanese Yen is Mildly Bullish
US Dollar / Japanese Yen closed above the lower Bollinger Band by 12.0%. Bollinger Bands are 66.84% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to US Dollar / Japanese Yen'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 9 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Elliott Waves High Volatility has detected an Isolated Low at 101.20 one bar ago ; this is usually a bullish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 5
moderate amplitude (13%): bullish wave 1
normal amplitude (21%): bullish wave 1

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

EUR/USD WEEKLY as of Monday, 10 March, 2014

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 30 white candles versus 20 black candles with a net of 10 white candles.
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 0 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has been unchanged, and has been fluctuating from a high of 1.391 to a low of 1.371.

The MACD is currently not in an Overbought/Oversold range.
The price of Euro Dollar / US Dollar has set a new 14-period high while the RSI has not. This is a BEARISH DIVERGENCE.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
The close is currently
ABOVE 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 Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 3.6%. Bollinger Bands are 58.74% 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 15 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
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.
Elliott Waves High Volatility has detected an Isolated Low at 1.37 one bar ago ; this is usually a bullish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.34 is increasing. The Relative Strength Index is at 61.19 in the neutral territory. The Relative Momentum Index is at 69.78 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.03, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 85.60. This value is in the overbought territory.


Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.

GBP/USD DAILY as of Tuesday, 11 March, 2014

*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar
Buy Target: 1.6646
Buy Stop: 1.6631
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 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 4 white candles versus 5 black candles with a net of 1 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 24 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 increased 0.03%, and has been fluctuating from a high of 1.665 to a low of 1.664.
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.
SAR signal was a Sell 1 period(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for British Pound / US Dollar is Bullish
British Pound / US Dollar closed above the lower Bollinger Band by 26.6%. Bollinger Bands are 67.78% 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 1 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
The present wave patterns are:
fast amplitude (8%): bullish wave 3
British Pound / US Dollar is long term Bullish as the 144 days moving average of 1.63 is increasing. The Relative Strength Index is at 51.88 in the neutral territory. The Relative Momentum Index is at 66.55 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.01, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 10.83. This value is in the oversold territory.

Technical Outlook
Short Term: Oversold
Intermediate Term: Bullish
Long Term: Bullish

EUR/USD WEEKLY as of Monday, 17 March, 2014
A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 8 white candles versus 2 black candles with a net of 6 white candles.
The previous 50 candlestick bars, there are 31 white candles versus 19 black candles with a net of 12 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.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 0.18%, and has been fluctuating from a high of 1.397 to a low of 1.371. MACD is not Overbought or Oversold.
Stochastic Oscillator is currently above 80. This is an indication an "overbought" condition.
RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 13 period(s) Ago.
The close is currently
ABOVE 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 Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 2.5%. Bollinger Bands are 55.93% 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 16 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
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
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.34 is increasing. The Relative Strength Index is at 61.91 in the neutral territory. The Relative Momentum Index is at 71.92 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.03, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 95.79. This value is in the overbought territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are ranging.

GBP/USD DAILY as of Tuesday, 18 March, 2014

*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.6632
Sell Stop: 1.6650
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 white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 6 white candles versus 2 black candles with a net of 4 white candles.
The previous 50 candlestick bars, there are 26 white candles versus 21 black candles with a net of 5 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.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 BEARISH as the MACD is below the signal line. The MACD crossed below the signal line 6 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 0.02%, and has been fluctuating from a high of 1.672 to a low of 1.659. The MACD is currently not in an Overbought/Oversold range.
Stochastic signal was a Buy 2 Period(s) Ago.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Sell 6 period(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for British Pound / US Dollar is Bullish
British Pound / US Dollar closed above the lower Bollinger Band by 33.4%. Bollinger Bands are 67.90% 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.
Elliott Waves High Volatility has detected an Isolated High at 1.67 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 3
British Pound / US Dollar is long term Bullish as the 144 days moving average of 1.63 is increasing. The Relative Strength Index is at 51.87 in the neutral territory. The Relative Momentum Index is at 56.71 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.00, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 23.33. This value is in the oversold territory.

British Pound / US Dollar is currently 3.9% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect very strong flows of volume into GBPUSD (bullish). Our trend forecasting oscillators are currently bearish on GBPUSD and have had this outlook for the last 1 periods.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

EUR/USD WEEKLY as of Monday, 24 March, 2014
A black body has formed as prices closed lower 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 30 white candles versus 20 black candles with a net of 10 white candles.
A engulfing bearish line has formed where a black candle's real body completely contains the previous white candle's real body. The engulfing bearish pattern is bearish during an uptrend (which is the case with Euro Dollar / US Dollar). It signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.
MACD is BULLISH as the MACD is above the signal line. The MACD crossed above the signal line 2 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased 0.59%, and has been fluctuating from a high of 1.397 to a low of 1.371. The MACD is currently not in an Overbought/Oversold range.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
The close is currently
ABOVE 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 Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 25.1%. Bollinger Bands are 56.43% 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 17 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
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.
Elliott Waves High Volatility has detected an Isolated High at 1.40 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.34 is increasing. The Relative Strength Index is at 57.00 in the neutral territory. The Relative Momentum Index is at 72.69 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.02, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 85.77. This value is in the overbought territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.

EUR/GBP DAILY as of Tuesday, 25 March, 2014
*** Intra-Daily Trading Strategy: SELL Euro Dollar / British Pound
Sell Target: 0.8382
Sell Stop: 0.8394
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 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 17 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / British Pound's price has increased 1.76%, and has been fluctuating from a high of 0.840 to a low of 0.819. The MACD is currently not in an Overbought/Oversold range.
Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition. Stochastic signal was a Sell 2 Period(s) Ago.
Currently, the Momentum Oscillator is in an overbought condition.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 21 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 / British Pound is Very Bullish
Euro Dollar / British Pound closed below the upper Bollinger Band by 21.8%. Bollinger Bands are 32.84% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 25/03/14. This is usually a trade set-up opportunity.
Elliott Waves High Volatility has detected an Isolated High at 0.84 one bar ago; this is usually a bearish sign that is not to be used alone!
Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern! It should be used with other indicators.
The present wave patterns are:
fast amplitude (8%): bullish wave 1
Euro Dollar / British Pound is long term Bullish as the 144 days moving average of 0.83 is increasing. The Relative Strength Index is at 62.02 in the neutral territory. The Relative Momentum Index is at 69.45 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.01, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 43.78. This value is in the neutral territory.

Euro Dollar / British Pound is currently 0.4% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Trend forecasting oscillators are currently bullish on EURGBP and have had this outlook for the last 12 periods.

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

GBP/USD WEEKLY as of Monday, 31 March, 2014

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 27 white candles versus 23 black candles with a net of 4 white candles.
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 increased 0.90%, and has been fluctuating from a high of 1.666 to a low of 1.647. The MACD is currently not in an Overbought/Oversold range.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 6 period(s) Ago.
The close is currently
ABOVE its 200 weekly moving average
ABOVE its 50 weekly moving average
ABOVE its 20 weekly 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 25.2%. Bollinger Bands are 35.71% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators.
The present wave patterns are:
fast amplitude (8%): bullish wave 3
British Pound / US Dollar is long term Bullish as the 144 days moving average of 1.60 is increasing. The Relative Strength Index is at 59.99 in the neutral territory. The Relative Momentum Index is at 78.55 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.03, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 14.73. This value is in the oversold territory.


Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.

EUR/USD DAILY as of Tuesday, 01 April, 2014

*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3769
Sell Stop: 1.3782
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 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 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.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 BEARISH as the MACD is below the signal line. The MACD crossed below the signal line 8 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased 0.06%, and has been fluctuating from a high of 1.387 to a low of 1.370. The MACD is currently not in an Overbought/Oversold range.
A Stochastic BUY signal was generated today. The Stochastic indicator is currently generating a BUY signal against the direction of the major trend.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Sell 8 period(s) ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Bullish
Euro Dollar / US Dollar closed above the lower Bollinger Band by 27.2%. Bollinger Bands are 32.20% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
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.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 01/04/14. This is usually a trade set-up opportunity.
Elliott Waves High Volatility has detected an Isolated High at 1.38 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.36 is increasing. The Relative Strength Index is at 48.66 in the neutral territory. The Relative Momentum Index is at 49.60 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.00, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 20.31. This value is in the oversold territory.

Euro Dollar / US Dollar is currently 1.9% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into EURUSD (bullish). Our trend forecasting oscillators are currently bearish on EURUSD and have had this outlook for the last 2 periods.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

EUR/GBP WEEKLY as of Monday, 07 April, 2014
Euro Dollar / British Pound broke above the upside resistance level of 0.82, 6 week(s) ago. This is a bullish sign. This previous resistance level of 0.82 may now provide downside support. Prices having only risen 0.02% since the breakout.

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 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.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 3 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / British Pound's price has decreased 1.10%, and has been fluctuating from a high of 0.840 to a low of 0.825.
SAR signal was a Buy 3 period(s) Ago.
The close is currently
BELOW its 200 weekly moving average
BELOW its 50 weekly moving average
BELOW its 20 weekly moving average
The current market condition for Euro Dollar / British Pound is Very Bearish
Euro Dollar / British Pound closed above the lower Bollinger Band by 34.7%. Bollinger Bands are 56.61% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / British Pound'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 4 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 04/04/14. This is usually a trade set-up opportunity.
Elliott Waves High Volatility has detected an Isolated Low at 0.82 one bar ago ; this is usually a bullish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
Euro Dollar / British Pound is long term Bearish as the 144 days moving average of 0.84 is decreasing. The Relative Strength Index is at 45.32 in the neutral territory. The Relative Momentum Index is at 42.54 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.00, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 69.32. This value is in the neutral territory.

Overall, the bias in prices is: Downwards.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

EUR/USD DAILY as of Tuesday, 08 April, 2014

*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3740
Sell Stop: 1.3750
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 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 27 white candles versus 22 black candles with a net of 5 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 BEARISH as the MACD is below the signal line. The MACD crossed below the signal line 13 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased 0.28%, and has been fluctuating from a high of 1.387 to a low of 1.367. The MACD is currently not in an Overbought/Oversold range.
A Stochastic BUY signal was generated today. The Stochastic indicator is currently generating a BUY signal against the direction of the major trend.
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 SELL 113 period(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell 13 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 27.3%. Bollinger Bands are 23.41% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
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.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 08/04/14. This is usually a trade set-up opportunity.
Elliott Waves High Volatility has detected an Isolated High at 1.37 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.36 is increasing. The Relative Strength Index is at 46.61 in the neutral territory. The Relative Momentum Index is at 44.16 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at -0.00, in negative territory; this is a bearish sign. An equally important indicator, the STORSI is at 38.55. This value is in the neutral territory.

Euro Dollar / US Dollar is currently 1.6% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Trend forecasting oscillators are currently bearish on EURUSD and have had this outlook for the last 7 periods.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

GBP/USD WEEKLY as of Monday, 14 April, 2014
British Pound / US Dollar broke above the upside resistance level of 1.67 this week. This is a bullish sign. This previous resistance level of 1.67 may now provide downside support.
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 27 white candles versus 23 black candles with a net of 4 white candles.
MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 3 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 1.46%, and has been fluctuating from a high of 1.680 to a low of 1.647. The MACD is currently not in an Overbought/Oversold range.
RSI and price of British Pound / US Dollar are not diverging.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 8 period(s) Ago.
The close is currently
ABOVE its 200 weekly moving average
ABOVE its 50 weekly moving average
ABOVE its 20 weekly 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 13.3%. Bollinger Bands are 44.59% 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 1 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
The present wave patterns are:
fast amplitude (8%): bullish wave 3
British Pound / US Dollar is long term Bullish as the 144 days moving average of 1.60 is increasing. The Relative Strength Index is at 61.75 in the neutral territory. The Relative Momentum Index is at 75.63 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.04, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 30.63. This value is in the neutral territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.

EUR/USD DAILY as of Wednesday, 16 April, 2014
*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3817
Buy Stop: 1.3801
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 reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

Euro Dollar / US Dollar broke above the upside resistance level of 1.38, 5 days ago. This is a bullish sign. This previous resistance level of 1.38 may now provide downside support. Prices having only risen 0.29% since the breakout, the validity of the breakout is questionable. The most recently confirmed downside support level for Euro Dollar / US Dollar is around 1.28. Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy trading) would be a bearish sign.
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 26 white candles versus 23 black candles with a net of 3 white candles.
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 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, Euro Dollar / US Dollar's price has decreased 0.33%, and has been fluctuating from a high of 1.390 to a low of 1.379. The MACD is currently not in an Overbought/Oversold range.
Stochastic was a Buy 6 Period(s) Ago.
ADX is currently below both Plus and Minus Directional indicators.
SAR signal was a Buy 5 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 38.4%. Bollinger Bands are 45.63% 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.
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.
An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 16/04/14. This is usually a trade set-up opportunity.
Elliott Waves High Volatility has detected an Isolated Low at 1.38 one bar ago ; this is usually a bullish sign that is not to be used alone! Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bearish pattern! It should be used with other indicators.
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.36 is increasing. The Relative Strength Index is at 51.96 in the neutral territory. The Relative Momentum Index is at 61.17 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.00, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 55.36. This value is in the neutral territory.
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

GBP/USD WEEKLY as of Monday, 21 April, 2014

British Pound / US Dollar broke above the upside resistance level of 1.67, 1 week(s) ago. This is a bullish sign. This previous resistance level of 1.67 may now provide downside support. Prices having only risen 0.38% since the breakout.
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 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, British Pound / US Dollar's price has increased 1.85%, and has been fluctuating from a high of 1.684 to a low of 1.647. The MACD is currently not in an Overbought/Oversold range.
The price of British Pound / US Dollar has set a new 14-period high while the RSI has not. This is a BEARISH DIVERGENCE.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 9 period(s) Ago.
The close is currently
ABOVE its 200 weekly moving average
ABOVE its 50 weekly moving average
ABOVE its 20 weekly 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 8.0%. Bollinger Bands are 41.43% 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 2 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern! It should be used with other indicators.
The present wave patterns are:
fast amplitude (8%): bullish wave 3
British Pound / US Dollar is long term Bullish as the 144 days moving average of 1.60 is increasing. The Relative Strength Index is at 63.37 in the neutral territory. The Relative Momentum Index is at 76.50 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.04, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 39.02. This value is in the neutral territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are stalling.
Intermediate term: Prices are trending.
Note: chart shows extraordinary price action to the upside.

EUR/USD DAILY as of Tuesday, 22 April, 2014
*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3796
Buy Stop: 1.3787
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 reverse after 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 26 white candles versus 23 black candles with a net of 3 white candles.
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, Euro Dollar / US Dollar's price has increased 0.01%, and has been fluctuating from a high of 1.383 to a low of 1.379.The MACD is currently not in an Overbought/Oversold range.
Stochastic was a Buy 10 Period(s) Ago.
ADX is currently below both Plus and Minus Directional indicators and Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 9 period(s) Ago.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
BELOW its 20 daily moving average
The current market condition for Euro Dollar / US Dollar is Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 48.2%. Bollinger Bands are 45.32% 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.
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.
Elliott Waves High Volatility has detected an Isolated Low at 1.38 one bar ago ; this is usually a bullish sign that is not to be used alone! Elliott Waves High Volatility has detected an Isolated High at 1.38 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.36 is increasing. The Relative Strength Index is at 49.37 in the neutral territory. The Relative Momentum Index is at 54.63 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.00, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 14.03. This value is in the oversold territory.

Euro Dollar / US Dollar is currently 1.6% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Prend forecasting oscillators are currently bearish on EURUSD and have had this outlook for the last 17 periods.

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bullish

AUD/USD WEEKLY as of Monday, 28 April, 2014
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 27 black candles with a net of 5 black candles.
MACD is BULLISH as the MACD is above the signal line. The MACD crossed above the signal line 10 period(s) ago. Since the MACD crossed the MACD moving average, Australian Dollar / US Dollar's price has increased 2.67%, and has been fluctuating from a high of 0.945 to a low of 0.889. The MACD is currently not in an Overbought/Oversold range.
Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition.
Directional Movement Indicators (DMI) signal was a BUY 4 period(s) ago.
SAR signal was a Buy 10 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 Australian Dollar / US Dollar is Bearish
Australian Dollar / US Dollar closed below the upper Bollinger Band by 17.5%. Bollinger Bands are 24.20% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
The present wave patterns are:
fast amplitude (8%): bearish wave 4
moderate amplitude (13%): bearish wave 1
Australian Dollar / US Dollar is long term Bearish as the 144 days moving average of 0.95 is decreasing. The Relative Strength Index is at 54.55 in the neutral territory. The Relative Momentum Index is at 54.44 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.01, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 79.77. This value is in the overbought territory.


Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.

EUR/USD DAILY as of Tuesday, 29 April, 2014
*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3851
Sell Stop: 1.3874
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!!!!!

Euro Dollar / US Dollar broke above the upside resistance level of 1.38, five days ago. This is a bullish sign. This previous resistance level of 1.38 may now provide downside support. Prices having only risen 0.37% since the breakout. The most recently confirmed downside support level for Euro Dollar / US Dollar is around 1.28. Expect prices to have some difficulty falling below this level. A break below this level (particularly on heavy trading) would be a bearish sign.
A white body has formed as prices closed higher than open.
The previous 10 candlestick bars, there are 8 white candles versus 2 black candles with a net of 6 white candles.
The previous 50 candlestick bars, there are 28 white candles versus 22 black candles with a net of 6 white candles.
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 3 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 0.21%, and has been fluctuating from a high of 1.388 to a low of 1.379.The MACD is currently not in an Overbought/Oversold range.
Stochastic signal was a Buy 15 Period(s) Ago.
Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
SAR signal was a Buy 14 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 21.9%. Bollinger Bands are 43.22% 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 10 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
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.
Elliott Waves High Volatility has detected an Isolated Low at 1.38 one bar ago ; this is usually a bullish sign that is not to be used alone! Elliott Waves High Volatility has detected an Isolated High at 1.39 one bar ago; this is usually a bearish sign that is not to be used alone!
The present wave patterns are:
fast amplitude (8%): bullish wave 1
moderate amplitude (13%): bullish wave 3
Euro Dollar / US Dollar is long term Bullish as the 144 days moving average of 1.37 is increasing. The Relative Strength Index is at 58.38 in the neutral territory. The Relative Momentum Index is at 60.89 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.00, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 100.00. This value is in the overbought territory.

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish

EUR/JPY WEEKLY as of Monday, 05 May, 2014
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 28 white candles versus 22 black candles with a net of 6 white candles.
A engulfing bullish line has formed where a white candle's real body completely contains the previous black candle's real body. The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.
If the engulfing bullish pattern occurs during an uptrend (which is the case with Euro Dollar / Japanese Yen), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.
MACD is BEARISH as the MACD is below the signal line. The MACD crossed below the signal line 13 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / Japanese Yen's price has increased 3.04%, and has been fluctuating from a high of 143.783 to a low of 136.226. MACD is currently not in an Overbought or Oversold range.
The close is currently
ABOVE its 200 weekly moving average
ABOVE its 50 weekly moving average
ABOVE its 20 weekly moving average
The current market condition for Euro Dollar / Japanese Yen is Very Bullish
Euro Dollar / Japanese Yen closed below the upper Bollinger Band by 40.4%. Bollinger Bands are 60.21% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to Euro Dollar / Japanese Yen'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.
The present wave patterns are:
fast amplitude (8%): bullish wave 1
Euro Dollar / Japanese Yen is long term Bullish as the 144 days moving average of 126.38 is increasing. The Relative Strength Index is at 59.22 in the neutral territory. The Relative Momentum Index is at 73.82 in the overbought territory. An important indicator for Elliott waves, the Elliott oscillator is at 3.71, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 20.77. This value is in the oversold territory.

Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.

EUR/USD DAILY as of Tuesday, 06 May, 2014

VIT Daily Analysis

Review of Euro Dollar / US Dollar (EURUSD)

as of 06/05/14

Volatility Analysis

On 06/05/14, Euro Dollar / US Dollar closed down -0.0000 at 1.3874

Statistical Change from
Volatility Previous period
10-period 3.0463 -0.01
21-period 3.9309 -0.14
39-period 4.8137 -0.11
90-period 6.2661 -0.08

Bollinger Bands are 55.14% narrower than normal. Euro Dollar / US Dollar is currently experiencing very low volatility as compared to its normal range. The probability of volatility increasing with a sharp price move is likely in the near future.

Momentum Indicators

Stochastic Oscillator
The Stochastic Oscillator is 86.2499. This is an overbought reading. Monitor for reversal signal when the Oscillator crosses below 80. The last signal was a buy 10 period(s) ago.

Relative Strength Index (RSI)
The current value of the RSI is 58.69.This is not a topping or bottoming area. The last signal was a sell 135 period(s) ago.

Commodity Channel Index (CCI)
The current value of the CCI is 146.This is an overbought reading. Monitor for reversal signal when the indicator crosses below 100. The last signal was a sell 16 period(s) ago.

MACD Momentum Indicator
The Moving Average Convergence/Divergence INDICATOR (MACD) crosses its 9 period signal line which triggers a buy 6 period(s) ago.

Trend Analysis

Aroon
There were no Aroon signals generated today. The last signal was a Buy 17 period(s) ago.

Directional Indicator
There were no Directional Indicator signals generated today. The last signal was a Buy 169 period(s) ago.

MACD Trend Signal
There were no MACD Trend signals generated today. The last MACD Trend signal was a Buy 8 period(s) ago.

Stop and Reverse (SAR)
There were no SAR signals generated today. The last signal was a Buy 19 period(s) ago.

Summary
The current market condition for Euro Dollar / US Dollar is: Very Bullish
The close is currently above its 200 period moving average.
The close is currently above its 90 period moving average.
The close is currently above its 30 period moving average.

Analysis of daily activity through 06/05/14

The current trend is up and all orders on the long side may be considered. The current market price activity is Strongly Bullish and suggests favorable trade opportunities on the long side.
If already holding long positions, look to partial profits on any retracement to 1.3777. With remaining long positions after profit taking should consider placing exit stops in the region of 1.3777. Be prepared for a potential short term price fall back to the 1.3830 area.

Suggested standing placement of fail-safe stops...

If Long -- exit all contracts at ... 1.3777

If Short -- exit all contracts at ... 1.3889