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Technical Analysis
Daily Technical analysis
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[QUOTE="Martin Kay, post: 52526, member: 25911"] [b]EUR/USD DAILY as of Wednesday, 25 September, 2013[/b] [B]*** 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!!!!![/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 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. [B]Technical Outlook [/B] Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish [/QUOTE]
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