7/6/2011 - EUR/USD

THE VULCAN REPORT
Review of $1$EUR/USD SPOT - EURO CURRENCY FOREX ($EUR/USD SPOT)
as of Tuesday, July 05, 2011


Today's Price Action


Change   -0.0103 (-0.71%) prices closed lower than they opened. with weak Bids going into the close.This is bearish, as prices closed significantly lower than they opened.  If the candle appears when prices are "high," it may be the first sign of a top.  If it occurs when prices are confronting an overhead resistance area the long black candle adds credibility to the resistance.  Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area. 


An engulfing bearish line occurred (where a black candle's real body completely contains the previous white candle's real body).  The engulfing bearish pattern is bearish during an uptrend (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 bulls to the bears.  


If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal.  The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.


     MARKET SENTIMENT
  
PulseScan Swing Vix


PulseScan:     25.54
Swing Vix:     20.56


The Market Pulse is positive since it is trading above its zero signal line.The PulseScan crossed above the Swing Vix creating a UP Trend Channel as of    3 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 17 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. Since the PulseScan leads the market 3-5 days out  We will wait to see if an upside breakout occurs.
      
  *Since the last Swing Vix signal, $1$EUR/USD SPOT - EURO CURRENCY FOREX's price has decreased 0.03%, and has ranged from a high of 1.4545 to a low of 1.4289.


     MOMENTUM


     MARKET TREND - Currently the TREND is .


        TREND STRENGTH - WEAK - RANGE BOUND (Prices have ceased trending and have become consolidated at this time) The market has put in a short term top. This means that the bulls are liquidating long positions thus taking some profit off the table.,


TRENDLINE RETRACEMENT
The close is currently Above it's PulseWave Cycle TRENDLINE RETRACEMENT. -   1.3724
The close is currently Above it's Long Term TRENDLINE RETRACEMENT. -   1.3860
The close is currently Above  it's Intermediate Term TRENDLINE RETRACEMENT. -   1.4287 
The close is currently Above  it's Short Term TRENDLINE RETRACEMENT. -   1.4360 


INTRADAY PRICE PROJECTIONS
RESISTANCE   1.4554
SUPPORT   1.4356


WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -   1.4545
PulseWave BreakOut SUPPORT -   1.4070


MONTHLY PRICE PROJECTIONS
BULL MARKET UPTREND - (12-18mo) PRICE TARGET =   1.7327
Long term Trend Line resistance is currently at -   1.4925
Long term Trend Line support is currently at -   1.3724


MONTHLY PRICE PROJECTIONS
BUBBLE PHASE 3 - (72mo+) (TULIP CRAZE CRASH IMMANENT) PRICE TARGET =   2.4533
BUBBLE PHASE 2 - (42-60mo) (MARKET FRENZY BUYING) PRICE TARGET =   2.2131
BUBBLE PHASE I - (24-36mo) PRICE TARGET =   1.9729


VOLATILITY
On 7/5/2011, $1$EUR/USD SPOT - EURO CURRENCY FOREX closed   
below the upper band by 41.1%.
   

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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