The signal was accompanied by a rise that so far has traversed 1.1% low to high.
The USD/JPY forex pair has a low average directional index, 19, and cannot be said to have a trend. The pair remains 0.6% below upside resistance, and must exceed that level -- ¥94.78 -- to be convincing.
The other indicators this morning are trading within their ranges, with a bias to the upside, and merit barely a mention, or none. I'll opt for none and go straight to the glance.
| trend | adx | psar | pps | macd | macd trend | sto | sto trend | |
|---|---|---|---|---|---|---|---|---|
| JNK $39.93 | ||||||||
| GLD $112.25 | ||||||||
| USO $40.41 | ||||||||
| EEM $42.78 | ||||||||
| EUR/USD $1.3317 | ||||||||
| USD/JPY ¥94.16 |
Technical analyst Martin Pring reveals the secrets of the craft. No trader should be without this book.
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
Exchange-Traded Fund Symbols:
EEM - emerging markets
EUR/USD - euro/dollar currency pair
GLD - gold
JNK - high-yield corporate bonds
SPY - blue-chip stocks
TLT - Treasury long-term bonds
USD/JPY - dollar/yen currency pair
USO - crude oil
VIX - fear index
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.
New to private trading? Here's a look at How to Become a Private Trader.
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