Daily Technical analysis

Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
USD/JPY DAILY as of Wednesday, 17 July, 2013
*** Intra-Daily Trading Strategy: BUY US Dollar / Japanese Yen
Buy Target: 99.6213
Buy Stop: 98.8957
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 6 white candles versus 4 black candles with a net of 2 white candles.
The previous 50 candlestick bars, there are 30 white candles versus 20 black candles with a net of 10 white candles.
MACD is BEARISH as the MACD is below the signal line.
The MACD crossed below the signal line today. Since the MACD crossed the MACD moving average, US Dollar / Japanese Yen's price has been unchanged, and has been fluctuating from a high of 99.538 to a low of 99.082.
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 use to initiate any trades right now.
SAR signal was a Sell 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 US Dollar / Japanese Yen is Very Bullish
The most recently confirmed down trendline for US Dollar / Japanese Yen has an ending point currently at 100.93. Expect prices to have some difficulty rising above this trendline. A break above this trendline would be a bullish sign.
US Dollar / Japanese Yen closed below the upper Bollinger Band by 46.3%. Bollinger Bands are 9.13% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

Please note that all wave counts are based on the high low price in this commentary!​


An Inside Day Narrow Range was detected by Elliott Waves High Volatility on 17/07/2013. This is usually a trade set-up opportunity
Elliott Waves High Volatility has detected an Isolated Low at 98.90 one bar ago ; this is usually a bullish sign
The present wave patterns are:
fast amplitude (8%): bullish wave 5
moderate amplitude (13%): bullish wave 1
normal amplitude (21%): bullish wave 1
US Dollar / Japanese Yen is long term Bullish as the 144 days moving average of 95.22 is increasing. The Relative Strength Index is at 51.20 in the neutral territory. The Relative Momentum Index is at 52.10 in the neutral territory. An important indicator for Elliott waves, the Elliott oscillator is at 0.45, in positive territory; this is a bullish sign. An equally important indicator, the STORSI is at 24.02. This value is in the oversold territory.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
AUD/USD DAILY as of Wednesday, 24 July, 2013

*** Intra-Daily Trading Strategy: SELL Australian Dollar / US Dollar
Sell Target: 0.9230
Sell Stop: 0.9344
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 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 28 black candles with a net of 6 black 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 Australian 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 12 period(s) ago. Since the MACD crossed the MACD moving average, Australian Dollar / US Dollar's price has increased 1.55%, and has been fluctuating from a high of 0.932 to a low of 0.901.
The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition.
Directional Movement Indicators (DMI) signal was a BUY 1 period(s) ago.
SAR signal was a Buy 1 period(s) Ago.
The close is currently
BELOW its 200 daily moving average
BELOW its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for Australian Dollar / US Dollar is Bearish
Australian Dollar / US Dollar broke above the down trendline at 0.93, 2 day(s) ago. This is a bullish sign. This down trendline, currently with an ending point at 0.91, now provide downside support. Prices having only risen 0.05% since the breakout.
Australian Dollar / US Dollar closed below the upper Bollinger Band by 23.2%. Bollinger Bands are 15.27% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Thursday, 25 July, 2013
Euro Dollar / US Dollar broke above the upside resistance level of 1.28, 11 day(s) ago. This is a bullish sign and 3 day(s) ago
Euro Dollar / US Dollar broke above the upside resistance level of 1.32,. This is a bullish sign. This previous resistance level of 1.32 now provide downside support. Prices having only risen 0.11% 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 would be a bearish sign.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.
A spinning top occurred (a spinning top 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.
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
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Wednesday, 31 July, 2013

*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3297
Buy Stop: 1.3199
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 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.MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 12 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 1.49%, and has been fluctuating from a high of 1.330 to a low of 1.300.
The Stochastic Oscillator is currently above 80. This is an indication of the security being in an "overbought" condition.
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 broke above the upside resistance level of 1.32, 6 day(s) ago. This is a bullish sign. This previous resistance level of 1.32 may now provide downside support. Prices having only risen 0.52% 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 would be a bearish sign.
Euro Dollar / US Dollar closed below the upper Bollinger Band by 21.7%. Bollinger Bands are 33.61% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
AUD/USD DAILY as of Thursday, 01 August, 2013

*** Intra-Daily Trading Strategy: BUY Australian Dollar / US Dollar
Buy Target: 0.8970
Buy Stop: 0.8889
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 6 black candles with a net of 2 black candles.
The previous 50 candlestick bars, there are 22 white candles versus 28 black candles with a net of 6 black 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 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, Australian Dollar / US Dollar's price has decreased 0.27%, and has been fluctuating from a high of 0.906 to a low of 0.892.
The Stochastic Oscillator is currently below 20. This is an indication of the security being in an "oversold" condition
The RSI has just reached its lowest value in the last 14 period(s). This is BEARISH signal.
The last Directional Movement Indicators (DMI) signal was a SELL 6 period(s) ago.
SAR signal was a Sell 2 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 Australian Dollar / US Dollar is Very Bearish
Australian Dollar / US Dollar broke below the downside support level of 0.91, 1 day(s) ago. This is a bearish sign. This previous support level of 0.91 now provide upside resistance. Prices having only declined 0.27% since the breakout.
Australian Dollar / US Dollar closed below the lower Bollinger Band by 4.4%. Although prices have broken the lower Bollinger Band and a downside breakout is possible, the most likely scenario is for the current trading range that Australian Dollar / US Dollar is in to continue. Bollinger Bands are 17.50% wider than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
*** 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
GBP/USD DAILY as of Thursday, 08 August, 2013

*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.5481
Sell Stop: 1.5504
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 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 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 1.33%, and has been fluctuating from a high of 1.553 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 a Sell 7 Period(s) ago.
The RSI has just reached its highest value in the last 14 period(s). This is BULLISH signal.
The ADX is currently below both Plus and Minus Directional indicators. 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 2 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, one day ago. 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 1.52. Expect prices to have some difficulty falling below this trendline. A break below this trendline would be a bearish sign.
British Pound / US Dollar closed below the upper Bollinger Band by 5.8%. Bollinger Bands are 9.57% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
GBP/USD DAILY as of Wednesday, 14 August, 2013


*** Intra-Daily Trading Strategy: SELL British 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 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 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 last SAR signal was a Buy 5 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Thursday, 15 August, 2013

*** Intra-Daily Trading Strategy: BUY Euro 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 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 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 decreased 0.01%, and has been fluctuating from a high of 1.332 to a low of 1.323.
Stochastic last signal was a Buy 26 Period(s) Ago.
The RSI has just reached its lowest value in the last 14 period(s). This is BEARISH signal.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 Sell 2 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Wednesday, 21 August, 2013

*** Intra-Daily Trading Strategy: SELL Euro 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 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 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 Buy 1 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 upward trend. 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
GBP/USD DAILY as of Thursday, 22 August, 2013

*** Intra-Daily Trading Strategy: BUY British 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 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 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 MACD is 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 Buy 12 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
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
GBP/USD DAILY as of Wednesday, 28 August, 2013

*** Intra-Daily Trading Strategy: BUY British 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 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 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 decreased 0.05%, 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 BEARISH signal.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 Sell 1 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Thursday, 29 August, 2013
*** Intra-Daily Trading Strategy: BUY Euro 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 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 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 decreased 0.18%, 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 BEARISH signal.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 Buy 7 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
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/GBP DAILY as of Wednesday, 04 September, 2013

*** Intra-Daily Trading Strategy: BUY Euro 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 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 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 decreased 0.91%, 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 Buy 9 Period(s) Ago.
The RSI has just reached its lowest value in the last 14 period(s). This is BEARISH signal.
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 Sell 2 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.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Thursday, 05 September, 2013

*** Intra-Daily Trading Strategy: SELL Euro 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 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 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 decreased 1.17%, 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 SELL 5 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
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Wednesday, 11 September, 2013

*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3260
Sell Stop: 1.3289
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 25 white candles versus 25 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.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).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 14 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has decreased 0.60%, and has been fluctuating from a high of 1.341 to a low of 1.310.
Stochastic signal was a Buy 2 Period(s) Ago.
The last Directional Movement Indicators (DMI) and SAR signal was a SELL 9 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 appears to be locked in a trading range bounded by upside resistance around 1.34 and downside support around 1.28.
Euro Dollar / US Dollar closed above the lower Bollinger Band by 45.0%. Bollinger Bands are 21.00% 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
 

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Last edited:

Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
GBP/USD DAILY as of Thursday, 12 September, 2013

*** Intra-Daily Trading Strategy: SELL British Pound / US Dollar
Sell Target: 1.5816
Sell Stop: 1.5839
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 9 white candles versus 1 black candles with a net of 8 white candles.
The previous 50 candlestick bars, there are 28 white candles versus 22 black candles with a net of 6 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 3 period(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 0.82%, and has been fluctuating from a high of 1.583 to a low of 1.563.
The Stochastic Oscillator is currently above 80. This is an indication of being in an "overbought" condition. The RSI is above 70. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying asset.
Currently, the Momentum Oscillator is 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 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 British Pound / US Dollar is Very Bullish. British Pound / US Dollar broke above the upside resistance level of 1.56, 3 day(s) ago. This is a bullish sign. This previous resistance level of 1.56 now provide downside support. Prices having only risen 0.81% 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 above the upper Bollinger Band by 7.2%. This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing. However, a short-term pull-back inside the Bollinger Bands is likely. Bollinger Bands are 32.39% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Wednesday, 18 September, 2013

*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3345
Sell Stop: 1.3364
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 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 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 0.43%, and has been fluctuating from a high of 1.339 to a low of 1.325.The MACD is currently not in an Overbought/Oversold range.
The Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition. Stochastic was a Buy 7 Period(s) Ago.
The Directional Movement Indicators (DMI) currently is not indicating any specific price direction and should not initiate any trades right now. Directional Movement Indicators (DMI) and 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
With strong confirmation from the short term-trend and a current Buy signal. The current market condition for Euro Dollar / US Dollar is Very Bullish
Euro Dollar / US Dollar closed below the upper Bollinger Band by 27.6%. Bollinger Bands are 25.10% 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 18/09/13. This is usually a trade set-up opportunity.
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
moderate amplitude (13%): bullish wave 3
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Thursday, 19 September, 2013

*** Intra-Daily Trading Strategy: SELL Euro Dollar / US Dollar
Sell Target: 1.3510
Sell Stop: 1.3555
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 8 white candles versus 2 black candles with a net of 6 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.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 4 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 1.78%, and has been fluctuating from a high of 1.354 to a low of 1.325.
The Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition. Stochastic was a Buy 8 Period(s) Ago.
Directional Movement Indicators (DMI) and SAR signal was a BUY 6 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 broke above the upside resistance level of 1.34, one day ago. This is a bullish sign. This previous resistance level of 1.34 may now provide downside support. Prices having only risen 0.02% since the. 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 volume) would be a bearish sign.
Euro Dollar / US Dollar closed above the upper Bollinger Band by 3.5%. 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 2.73% 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
 

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Martin Kay

Master Trader
Jul 16, 2013
410
0
57
www.thatsucks.com
EUR/USD DAILY as of Wednesday, 25 September, 2013

*** Intra-Daily Trading Strategy: BUY Euro Dollar / US Dollar
Buy Target: 1.3481
Buy Stop: 1.3463
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 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 8 period(s) ago. Since the MACD crossed the MACD moving average, Euro Dollar / US Dollar's price has increased 1.36%, and has been fluctuating from a high of 1.357 to a low of 1.325. The MACD is currently not in an Overbought/Oversold range.
The Stochastic Oscillator is currently above 80. This is an indication of an "overbought" condition. Stochastic has been a Buy for 12 Period(s).
Currently, the Momentum Oscillator is in an overbought condition.

Both the Directional Movement Indicators (DMI) and SAR signal was a BUY 10 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 21.5%. Bollinger Bands are 25.17% 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
 

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