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Technical Analysis
Daily Technical analysis
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[QUOTE="Martin Kay, post: 50226, member: 25911"] [b]EUR/USD DAILY as of Thursday, 15 August, 2013[/b] [B]*** 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!!!!![/B] 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. [B]Overall, the bias in prices is: Sideways. Short term: Prices are stalling. Intermediate term: Prices are ranging.[/B] [/QUOTE]
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