Wednesday, November 4, 2009

EUR-USD Technial Analysis - 4 November 2009

After a long-time i have not updated this blog i decided to do it again today. November 4, 2009. We will take a look at EUR-USD long term trend direction based on MACD, Bollinger Band, and Slow Stochastic on Daily, Weekly, and Monthly time frame.

EUR-USD AnalysisDaily Time Frame Chart Analysis:
MACD: Down
Slow Stochastic: Down
B.Band Position: Bottom
Overall Conclusion: Bearish

Weekly Time Frame Chart Analysis:
MACD: UP
Slow Stochastic: Down
Bollinger Band: Middle
Overall Conclusion

Monthly Time Frame Chart Analysis:
MACD: UP
Slow Stochastic: UP
Bollinger Band: Middle
Overall Conclusion: Bullish

Overall Summary:
  • Short-Term movement of the EUR-USD is bearish
  • Long-Term movement is bullish
  • Despite of the bullish assumption, the bollinger band indicator show that the pair has reach its ideal position which the middle band on monthly and weekly time frame.
    This could trigger a sudden reversal downward (Unexpectedly) due to economic downturn. Or moving sideways.
  • So my analysis 60% Bullish 40% bearish
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