EURUSD – ALGO Map – Short term trend turning higher
|Below is the ALGO map for EURUSD. The ALGO MAP measures strength of trend by factoring in two elements, the current position of a trading system and how well that trading system is performing. when a trading system is performing well the signal caries more weight but when a system is not performing the signal has a negative value. The Trnd1 is the short term ALGO trend while the trnd2 is med and Trnd3 is longer term algo trends. The comp is the weighted level that combines all three. For short term trades look at TRND1, week long –2 and 2-4 week –3.
The short term picture right now is neutral while both the medium (week) and longer term algo (trends 2-4 week) are negative. This should lead to to short term trading opportunities for bulls and this could turn into a bigger trade. As with always you must know when the trade has not worked. Check back with our site, the index strategist for more details.
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