7/20/2011 - EUR/USD

THE VULCAN REPORT
Review of $1$EUR/USD SPOT - EURO CURRENCY FOREX ($EUR/USD SPOT)
as of Tuesday, July 19, 2011


Today's Price Action


Change    0.0038 (0.27%) prices closed higher than they opened.  with strong Bids going into the close.


An engulfing bullish line occurred (where a white candle's real body completely contains the previous black candle's real body).  The engulfing bullish pattern is bullish during a downtrend (which appears to be the case with $1$EUR/USD SPOT - EURO CURRENCY FOREX).  It then signifies that the momentum may be shifting from the bears to the bulls.


If the engulfing bullish pattern occurs during an uptrend, it may be a last engulfing top which indicates a top.  The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     -7.65
Swing Vix:     -9.88


The Market Pulse is negative since it is trading below its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    2 period(s) ago. 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-Bought Sell 27 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.The Swing Vix and price are not diverging.
      
  *Since the last Swing Vix signal, $1$EUR/USD SPOT - EURO CURRENCY FOREX's price has increased 0.01% , and has ranged from a high of 1.4191 to a low of 1.3989.


     MOMENTUM


     MARKET TREND - Currently the TREND is - The UpTrend is still entact with prices holding above trendline support at-   1.3756.


        TREND STRENGTH - ,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -   1.3756
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -   1.3882
The close is currently Below  it's Intermediate Term TRENDLINE RETRACEMENT. -   1.4245 
The close is currently Below  it's Short Term TRENDLINE RETRACEMENT. -   1.4149 


INTRADAY PRICE PROJECTIONS
RESISTANCE   1.4198
SUPPORT   1.4036


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   1.4545
PulseWave BreakOut SUPPORT -   1.3812


VOLATILITY
On 7/19/2011, $1$EUR/USD SPOT - EURO CURRENCY FOREX closed   
above the lower band by 30.6%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.    

Risk Disclosure

General Advice Disclosure: Please note that the advice contained herein is general advice and is for the purposes of education only. The risk of loss in trading futures contracts, commodity options, stocks, stock options and forex currencies can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You are reminded that past performance is no guarantee or reliable indication of future results. It has not been prepared taking into account your particular investment objectives, financial situation and particular needs.You should therefore assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. You should do this before making an investment decision based on this general advice. You can either make the assessment yourself or seek the help of a professional adviser.


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.


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