The Vulcan Report (39) - 13 May 2010 - FOREX
THE VULCAN REPORT
Review of EUR/USD - EURO DOLLAR (EUR/USD)
as of Wednesday, May 12, 2010
CHART PATTERNS
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white "UP" candles and 5 black "DOWN" candles for a net of 1 black (DOWN) candles.
During the past 50 bars, there have been 20 white "UP" candles and 29 black "DOWN" candles for a net of 9 black (DOWN) candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
PulseScan Swing Vix Swing Index
PulseScan: -20.86
Swing Vix: -21.39
Currently The Market Pulse is negative since it is trading below its signal line.The PulseScan crossed above the Swing Vix 3 period(s) ago.
PulseScan LONG ENTRY :
,,
,,2nd-VCB GO LONG @
BREAK OUT 130.93
Profit Target 129.38
Stop Loss/Stop & Reverse 125.72
Swing Vix SHORT ENTRY :
,Hold shorts - 1st PulseWave - from 127.84
,
,,2nd-VCB GO SHORT @
BREAK DOWN 125.23
Profit Target 124.06
Stop Loss/Stop & Reverse 127.71
The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days
,
The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range. A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area. The last signal was a Over-Sold Buy 67 period(s) Ago.
The Swing Vix has just reached its highest value in the last 14 period(s). This is bullish.
The Swing Vix has set a new 14-period high while the security price has not. This is a bullish divergence.The security price has set a new 14-period low while the Swing Vix has not. This is a bullish divergence.
Since the Swing Vix crossed its moving average, EUR/USD - EURO DOLLAR's price has decreased 1.49%, and has ranged from a high of 130.930 to a low of 126.050.
MARKET TREND
Currently the TREND is VERY-BEARISH- Down.
The current market condition for EUR/USD - EURO DOLLAR is:
\Very Bearish
The close is currently Below it's 264 Long Term period moving average. 138.35
The close is currently Below it's 40 Intermediate Term period moving average. 133.88
The close is currently Below it's 10 Short Term period moving average. 130.59
Volatility
On 5/12/2010, EUR/USD - EURO DOLLAR closed above the lower band by 12.3%. 127.56% wider than normal. The large width of the bands suggest high volatility as compared to EUR/USD - EURO DOLLAR's normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The bands have been in this wide range for 8 period(s). The probability of prices consolidating into a less volatile trading range increases the longer the bands remain in this wide range.
This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.
NOTE: gold stop moved to 1230.00
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