Euro Dollar / US Dollar-EURUSD As of 19/06/17
*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.1119
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 big bearish black candle has formed. Prices closed considerably lower than open. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area, a moving average, trend line, or price resistance level, the long black candle adds credibility to the resistance. Likewise, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
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 20 black candles with a net of 8 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. It signifies that the momentum may be shifting from the bulls to the bears.
If the engulfing bearish pattern occurs during a downtrend (which is the case with Euro Dollar / US Dollar), 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 BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line 10 day(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar’s price has decreased 1.00%, and has been fluctuating from a high of 1.129 to a low of 1.113.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Sell 58 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 19 day(s) ago.
The RSI has just reached its lowest value in the last 14 day(s). This is BEARISH signal.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a SELL 153 day(s) ago.
There were no SAR signals generated today. The last SAR signal was a Sell 2 day(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 13.5%. Bollinger Bands are 53.00% 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 day(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.