Thursday, April 22, 2010

4/22 Forex

The U.S. dollar strengthened against the euro and the Swiss franc, tossing off a parabolic sar bear signal in the case of the EUR/USD currency pair, and a bull signal in the USD/CHF pair.

Both pairs have very low average directional index readings, and so are prone to whipsaws. The EUR/USD three-month daily chart shows six psar reversals, and the USD/CHF chart, eight such.

So it's strictly short-term with these guys.
trendadxpsarppsmacdmacd
trend
stosto
trend
EUR/USD $1.3293

You are here EUR/USD:
  • Reversal
    • $1.3817, +3.9%
    • $1.3678, +2.9%
  • Now $1.3293
  • Reversal
    • $1.3258, -0.3%
    • $1.2885, -3.1%

trendadxpsarppsmacdmacd
trend
stosto
trend
USD/CHF SF1.0779

USD/CHF You are here:
  • Reversal
    • SF1.0897, +1.1%
    • SF1.0802, +0.2%
  • Now SF1.0779
  • Reversal
    • SF1.0501, -2.6%
    • SF1.0367, -3.8%

Technical Analysis Explained : The Successful Investor's Guide to Spotting Investment Trends and Turning Points

Technical analyst Martin Pring reveals the secrets of the craft. No trader should be without this book.


These signals 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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