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The EURO FX Futures are Holding at Resistance

Daily Chart of EURUSD Pair Futures Traded on Globex

The price action of the EURO FX Futures (EUR/USD pair) has maintained the uptrend channel, but is currently holding within the resistance zone. I still want to see the daily RSI reading close above 62 and confirm the bullish momentum.

Constant Volume Bar Chart of EURUSD Pair Futures Traded on Globex copy

The Constant Volume Bar chart is set to 1,000 contracts with the CQG SnapTrader shows the market trading right in the middle of the range between a support and a resistance zone. The current RSI readings are just barely closing above 62, which is trading range behavior.

TradeFlow Chart of EURUSD Pair Futures Traded on Globex

This morning’s snapshot view of the TradeFlow Chart for the EUR/USD has the both studies set to a five-bar running sum with the CQG ChartTrader. Currently, the buy volume line (green) is indicating a slight edge to the buyers by peaking above the sell volume line (red) of the TFVCrss study, which indicates traders are lifting offers.

The TradeFlow view of the market can change very quickly.

This entry was posted Monday, February 26th, 2007 at 9:23 am and is filed under TradeFlow, EUR/USD Futures. You can leave a response, or trackback from your own site.

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Thom Hartle’s View of Trading and the Financial Markets