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.

	trend	adx	psar	pps	macd	macd trend	sto	sto 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%

	trend	adx	psar	pps	macd	macd trend	sto	sto 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%

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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.

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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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