Hartle & Flow

Yesterday, the Euro FX futures (EUR/USD pair) reversed at the combination of the resistance zone from early December and the supply side line of the up channel. Today, the market dipped into a support zone on the daily chart and buyers are appearing.

The trend is still up because the recent extreme daily RSI readings have peaked above 62.

The Constant Volume Bar chart is set to 1,000 contracts with the CQG SnapTrader . As this image was captured, the recent extreme RSI readings were closing above 62, but are now tracing out readings below 62 and above 38. The market is moving into a trading range with a bullish bias.

If the RSI readings start to peak over 62, then the market should move higher.

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 market is trading higher, and the buy volume line (green) is edging above the sell volume line (red) of the TFVCrss study, which buyers are the aggressors.

The TradeFlow view of the market can change very quickly.

This entry was posted Friday, March 23rd, 2007 at 7:45 am and is filed under TradeFlow, EUR/USD Futures. You can leave a response, or trackback from your own site.