Current level at 14:05 CET is 1.5479, trading above the daily pivot point at 1.5445 and still unable to break out of the range marked by daily Bollinger bands at 1.5325 and 1.5845. The 14 day ADX is showing a relatively low value of 14, which reflects the lack of directional force in this currency pair at present. There are however a few signs of weakness becoming evident - We are trading below the daily Ichimoku cloud base at 1.5560 and the 55 day moving average is falling and currently at 1.5630. The daily MACD oscillator also remains beneath the zero line. Should an acceleration to the downside materialize, then we would focus on the 1.4966 level, which marks the Fibonacci 61.8 percent retracement of the 1.4311 - 1.6017 range and also 1.4930 which marks the rising 200 day moving average.
Straiton & Partner
| Bahnhofstrasse 5, Postfach 643, CH-8820 Wädenswil
http://www.stoploss.ch | info@stoploss.ch
Legal disclaimer and risk disclosure
Straiton & Partner, Switzerland, its associates and subsidiaries, its employees, directors, agents, the content Providers and any other parties involved in the creation, production or delivery of trading systems and information on the Stoploss.ch site disclaim any responsibility and shall not, in any event, be liable for any damages, claims, liabilities, costs or obligations including any direct, indirect, punitive, special, incidental or consequential damages, including without limitation, loss of use, loss of data, loss of business profits, loss of opportunity, business interruption, personal injury, or any other pecuniary loss (collectively the "Damages") whatsoever and howsoever caused to the user or suffered by the user, arising out of or in connection with the use or misuse of the site or the information or with any delay or inability by the user to use the site or the information, whether any such damages arise in contract, tort, strict liability, negligence, equity or statute law or by way of any other legal theory, even if Straiton & Partner, Switzerland has been advised of the possibility of damages. Straiton & Partner, Switzerland disclaims any liability for unauthorized use or reproduction of any portion of the stoploss.ch site. If you happen to have any questions or concerns, please contact us.