Hartle & Flow

The EURO FX Futures (EUR/USD pair) have traded below the demand line of the up trend channel. What is critical is does this bring out sellers. If not, then the previous resistance zone, which is now a support zone, is holding and that is a positive sign. If sellers do take charge then the next level of support is 1.3100. The daily RSI reading have peaked above 62 and confirmed the bullish momentum.

The Constant Volume Bar chart is set to 1,000 contracts with the CQG SnapTrader shows the RSI readings just formed a pivot low above 68 (market by an arrow), which signals a trading range with a bearish bias because the most recent extreme RSI readings were below 38.

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 running higher than the sell volume line (red) of the TFVCrss study and is sign buyers are lifting offers.

The TradeFlow view of the market can change very quickly.

This entry was posted Thursday, March 1st, 2007 at 9:36 am and is filed under TradeFlow, EUR/USD Futures. You can leave a response, or trackback from your own site.