Video Bar

Loading...

Wednesday, August 3, 2016

08/03/2016 U.S. DOLLAR DOWN BUT NOT OUT!


The U.S. Dollar seems to have found some support around the weekly 94.94 Trendline support area. As of today the intraday chart suggest a short term bottom with prices rebounding into a pulsewave positive scenario. Although the market could still pull back further the momentum indicator suggest more of an upward thrust still ahead. Projected retracement is around the 96.50 - 97.00 price range.


THE VULCAN REPORT
Review of /DX US DOLLAR INDEX (DX)
as of Monday, August 01, 2016

Today's Price Action
Change   -1.9000 (-1.95%) 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.

    CHART PATTERNS
A big black candle occurred.  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 (e.g., a moving average, trendline, or price resistance level), 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.

During the past 10 bars, there have been 6 white "UP" candles and 4 black "DOWN" candles  for a net of 2 white (UP) candles.
During the past 50 bars, there have been 25 white "UP"  candles and 25 black "DOWN" candles .

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 /DX US DOLLAR INDEX).  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:     29.52
Swing Vix:     27.84
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    2 period(s) ago.

The Trend Channel is UP!  (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days


The Swing Vix is above 29.  This is where it usually forms Resistance.  The Swing Vix usually forms Resistance before the underlying security.CRASH ALERT  - (Short-term Market Top) Possible Selloff is likely do to weak market pulse projections. 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 32 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, /DX US DOLLAR INDEX's price has decreased 1.24%, and has ranged from a high of 97.6200 to a low of 95.3400.

MARKET TREND - Currently  - The UpTrend is still intact with prices holding above trendline support at-  87.1550.

INTRADAY PRICE PROJECTIONS
RESISTANCE  95.8530
SUPPORT  95.2260   

WEEKLY PULSE WAVE PRICE PROJECTIONS
PulseWave BreakOut RESISTANCE -  97.7340
PulseWave BreakOut SUPPORT -  92.8465

VOLATILITY
On 7/25/2016, /DX US DOLLAR INDEX closed 
below the upper band by 40.7%.
This combined with the steep downtrend suggests that the downward trend in prices has a good chance of continuing.  However, a short-term pull-back inside the bands is likely.") 


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. For Related news and other stories please visit - http://www.wideawakenews.com/ For Related videos on our Youtube channel please visit - http://www.youtube.com/user/pulsescan72 Be Sure to register for faster updates and commentaries at - BLOG 1: - http://pulsescan.blogspot.com/ BLOG 2: - http://seekingalpha.com/instablog/466159-pulsescan72/ BULLS make money... BEARS make money.... PIGS get slaughtered! "TAKE WHAT YOU CAN .........GIVE NOTHING BACK"!!

No comments:

Post a Comment