4/20 Forex: EUR/GBP

One new forex signal today: The parabolic sar has moved into bear phase on the EUR/GBP currency pair, buttressed by a price decline that has covered -0.7% so far today.

	trend	adx	psar	pps	macd	macd trend	sto	sto trend
EUR/GBP £0.8761

The average directional index stands at 26, which is marginally whipsaw prone, but still its better than the extremely low adx readings of most forex.

You are here:

• Reversal
• £0.8843, +0.9%
• Now £0.8761
• Reversal
• £0.8745, -0.2%
• £0.8705, -0.6%
• £0.8670, -1%

The reversal levels are fairly congested, and I'll be surprised if this move has any great magnitude.

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This signal will be followed in the daily Watchlist, which is posted beginning around 2:45 p.m. Eastern. Look for it at www.timbovee.com.

Abbreviations:
psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
• adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
• psar, pps, macd: green for bull mode, red for bear
• sto: green for overbought, red for oversold, yellow for the neutral zone.

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