British Pound / US Dollar-GBPUSD As of 04/04/17
*** Intra-Daily Trading Strategy:SELL British Pound / US Dollar
Sell Target: 1.2406
Enter New SELL on OPEN and exit SELL positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
A black body has formed as prices closed lower than open.
The previous 10 candlestick bars, there are 5 white candles versus 5 black candles.
The previous 50 candlestick bars, there are 24 white candles versus 25 black candles with a net of 1 black candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 13 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has increased 0.75%, and has been fluctuating from a high of 1.262 to a low of 1.224.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Sell 4 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Buy110 day(s) ago.
Currently the RSI does not show any Failure Swings. The RSI and price of British Pound / US Dollar are not diverging.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The Directional Movement Indicators (DMI) currently is not indicating a specific price direction. Because this is a trend following system, it should not use to initiate any trades right now. The last Directional Movement Indicators (DMI) signal was a BUY 87 day(s) ago.
A SAR Sell signal generated today. If you are long, this might be a good place to exit.
The close is currently
BELOW its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
The current market condition for British Pound / US Dollar is Mildly Bearish
British Pound / US Dollar closed below the upper Bollinger Band by 38.7%. Bollinger Bands are 20.92% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.