Hartle & Flow

The market has moved down and has tested the support zone for a second time. Buyers appear to be coming in. The RSI readings broke the uptrend line yesterday, signaling downside momentum, but Friday’s close did not take the RSI below 38. Today’s early upside action could lead to an up close and if it does, the RSI is back to signaling a trading range with a negative bias.

The Constant Volume Bar chart is set to 250 contracts with the CQG ChartTrader shows the RSI readings are indicating upside momentum. We see peak RSI readings above 62, and low reading holding above 38.

The morning look at the TFlow Chart for the EURUSD has the both studies set to a five-bar running sum with the CQG ChartTrader. Traders at this moment are hitting bids as the sell volume line (red) is dominating the buy volume line (green) of the TFVCrss study.

This entry was posted Monday, January 29th, 2007 at 9:46 am and is filed under TFlow, EUR/USD Futures. You can leave a response, or trackback from your own site.