*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3781
Sell Stop: 1.3804
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!!![/B]
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.
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 0.79%, and has been fluctuating from a high of 1.379 to a low of 1.365.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
The Stochastic Oscillator is currently above 80. This is an indication of the security being in an “overbought” condition. No Stochastic Buy or Sell signals generated today. The last signal was a Buy 32 Period(s) Ago.
The RSI is above 70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 13 period(s) ago.
The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a BUY 30 period(s) ago.
There were no SAR signals generated today. The last SAR signal was a Buy 4 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 9.4%. 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 19.80% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.