currency

Euro-FX:

The euro is trading higher this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. Momentum readings are also in bearish territory.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade below this moving average. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 50-Day simple moving average has a weak bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.

MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 39.32). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 39.32 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating oversold prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. The market is oversold and appears to be finding some support near recent lows. Look for a potential bottom in this area.

RESISTANCE AND SUPPORT LEVELS:

1.4978 - 20-Day Simple Moving Average Plus 2 Standard Deviations
1.4977 - Highest High in last 50-Days
1.4837 - 20-Day Simple Moving Average Plus 1 Standard Deviation
1.4774 - Highest High in last 10-Days
1.4686 - 25-Day Simple Moving Average
1.4594 - 10-Day Simple Moving Average
1.4554 - 20-Day Simple Moving Average Minus 1 Standard Deviation
1.4530 - 50-Day Simple Moving Average
1.4432 - High
1.4427 - 3-Day Simple Moving Average
1.4427 - Last Price
1.4413 - 20-Day Simple Moving Average Minus 2 Standard Deviations
1.4379 - Low
1.4342 - Lowest Low in last 10-Days
1.4176 - 100-Day Simple Moving Average
1.4033 - Lowest Low in last 50-Days
1.3850 - 200-Day Simple Moving Average

Japanese Yen:

Japanese Yen futures at the CME are weaker this morning reversing the firmer tone seen during the prior session. Trend indicators are indicating a bearish market. However the overall strength of the trend, as indicated by the ADX, is weak and should be watched as a result. Momentum readings are also in bearish territory.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.

MOMENTUM INDICATORS:
MACD: The MACD is in bearish territory.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 44.86). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 44.86 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating oversold prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this oversold condition the market may become more oversold before turning higher. As a result, the market will look for additional strength in prices before turning bullish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

0.9350 - Highest High in last 50-Days
0.9298 - 20-Day Simple Moving Average Plus 2 Standard Deviations
0.9186 - 20-Day Simple Moving Average Plus 1 Standard Deviation
0.9150 - Highest High in last 10-Days
0.9072 - 25-Day Simple Moving Average
0.8995 - 10-Day Simple Moving Average
0.8963 - High
0.8962 - 20-Day Simple Moving Average Minus 1 Standard Deviation
0.8927 - 3-Day Simple Moving Average
0.8920 - Last Price
0.8917 - 50-Day Simple Moving Average
0.8900 - Low
0.8895 - Lowest Low in last 10-Days
0.8850 - 20-Day Simple Moving Average Minus 2 Standard Deviations
0.8791 - 100-Day Simple Moving Average
0.8580 - 200-Day Simple Moving Average
0.8529 - Lowest Low in last 50-Days

TradeSignals 2007.