THE VULCAN REPORT
Review of Euro Currency (EUR/USD)
as of Monday, June 07, 2010
CHART PATTERNS
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white "UP" candles and 7 black "DOWN" candles for a net of 4 black (DOWN) candles.
During the past 50 bars, there have been 19 white "UP" candles and 29 black "DOWN" candles for a net of 10 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.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
PulseScan Swing Vix Swing Index
PulseScan: -38.66
Swing Vix: -36.25
Currently The Market Pulse is negative since it is trading below its signal line.The PulseScan crossed below the Swing Vix 2 period(s) ago.
The last signal was a -SWING VIX Sell 2 period(s) Ago.
PANDORA'S LITTLE BLACK BOX
PulseScan LONG ENTRY :
,,,,,,
Swing Vix SHORT ENTRY :
,,,,1st IntraDay BreakDown SHORT /,,
SWING TRADE ENTRIES
2nd PulseWave SHORT 1.2153
1st PulseWave SHORT 1.2116
DAY TRADE ENTRIES
2nd IntraDay BreakDown SHORT 1.1870
1st IntraDay BreakDown SHORT 1.1902
PROFIT TARGETS
1st IntraDay Profit Target 1.1876
2nd IntraDay Profit Target 1.1819
STOP LOSS
Stop Loss/Stop & Reverse 1.1943
Watch for possible breakout longss - 2nd PulseWave - from 1.2452
The Trend Channel is DOWN! (i.e. "Negative Swing Vix") This means that negative momentum is entering the market. Expect sideways to lower prices within the next 3-5 days
,
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 12 period(s) Ago.
The Swing Vix does not currently show any Failure Swings.
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, Euro Currency's price has decreased 1.96%, and has ranged from a high of 1.2325 and to a low of 1.1876.[/i]
MARKET TREND
Currently the TREND is VERY-BEARISH- Down.
The current market condition for Euro Currency is:
\Very Bearish
The close is currently Below it's 264 Long Term period moving average. 1.3509
The close is currently Below it's 40 Intermediate Term period moving average. 1.2840
The close is currently Below it's 10 Short Term period moving average. 1.2364
Volatility
On 6/7/2010, Euro Currency closed below the lower band by 8.5%. Although prices have broken the lower band and a downside breakout is possible, the most likely scenario is for the current trading range that Euro Currency is in to continue.
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.
