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According to the chart of EURCHF there are a main down trend signal as the 2 EMA 5 and 6 moving below the slow EMA of 35 then I guess I will take a sell positions once the other indicators confirm the bearish direction.
There are a dots below the candles for parabolic sar indicator to indicate a upward direction and also I can monitor a sell signal on the MACD indicator which moving below the level 0 for now beside the CCI line is at the Higher level to perform a upward signal.
As I said before according to the EMA locations selling is my favorite side for today as long as the price didn’t show any opposite bullish signals.
http://bigimage.cz/photos/20010104978598113197896.gif .
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the EURCHF pair for today seems to be on bearish trend according to the red color of the Super trend which is my main indicator to determine the market direction.
Also the Nonlog dot is blue colored which indicate a buy signal by the way.
Now the signals show a week bearish trend and a sell trades can take a place as soon as the Nonlog indicator changes to confirm the direction.
For the stop loss area I think there are 2 ways to exit if the super trend changes its color to be green or if the price hits the resistance at the area of 1.2063 which may mean that the bearish direction is over.
http://bigimage.cz/photos/20010104978598075178680.gif
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As you can see on the chart of EURCHF the prices is now upper than the EMA line of 15 which could be used as a good sign of bullish trend for today.
Also the power line indicator is now below the 50 level which indicates a good downward direction signal.
One important thing else is the power momentum indicator which as you can see show a low power of the bullish trend which can be used to filter the entry of buy positions.
http://bigimage.cz/photos/20010104978598366246634.gif .
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analysis for today 10 / 23 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURCHF on the date 10 / 22 / 2014
OPEN 1.2067
HIGH 1.2071
LOW 1.2056
CLOSED 1.2060
The third resistance (R3) 1.2071 -( 1.2062 - 1.2056 = 0.0006 x 2 = 0.0013 )= 1.2084
The second Resistance (R2) 1.2062 + 1.2071 - 1.2056 = 1.2077
First resistance (R1) 1.2062 x 2 = 2.4125 - 1.2056 = 1.2069
pivot points 1.2071 + 1.2056 + 1.2060 = 3.6187 / 3 = 1.2062
Support for the first (S1) 1.2062 x 2 = 2.4125 - 1.2071 = 1.2054
Support second (S2) 1.2062 -( 1.2071 - 1.2056 = 0.0015 ) = 1.2047
Third Support (S3) 1.2056 -( 1.2071 - 1.2062 = 0.0009 x 2 = 0.0017 )= 1.2039
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A clear cross is occurs on the momentum indicator on the EURCHF chart as the blue line goes above the red one to perform a good buying signals for the current time By the way the yellow color is shown on the Oracle Strength indicator and then it can be considered as a upward direction signal for the EURCHF To add strength to the direction the Oracle direction indicator should be useful and by a quick look you can see the blue color on the arrows to perform a upward signal on the short term Now according to these data I think a upward trend should be in action as long as the momentum buy cross still on the chart and a buy trades can be taken as long as the ATR indicator keep showing a buying signals.
http://bigimage.cz/photos/20010105978653260111049.gif .
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A bullish trend is now in action as you can see the green arrow shown on the hourly EURCHF chart at the current time which is supported with a bottom located at 1.2062 which can be also used as a very strong support that the price shouldn’t go below it if the bullish trend still strong.
Also the parabolic sar dots is showing below the candles which is a sign that the price is heading up for a while.
when buying trades take a place I think then the resistance 1.2075 can be a good area in order to close some open positions as the price has a good chance to go south after hitting it.
http://bigimage.cz/photos/20010105978654079145561.gif .
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When trying to analyze the EURCHF I can draw a bearish channel as you can see to narrow the market movement area between 2 trend lines Using the donchain channel you can see the price moving at the up edge of it then I can think about selling the price as long as no opposute signs appears on awesome oscillator Currently the awesome oscillator has a red bars which appears above the level of 0 which can be considered as a good sell signal Same on the stostatic indicator which show a buy signal by getting an up intersection between two lines near the 80 th level Till now bearish trend seems to be a stronger choise and by the way selling the pair targeting the low level of donchain channel is not bad idea http://bigimage.cz/photos/20010105978653084202049.gif
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A week bullish trend take a place on the hourly chart of the EURCHF as the Blade oscillator is now at 0.0001 area above the level of balance and at the same time the indicator is blue colored which is a week indication of bullish direction on the short term. On the chart itself you can see the moving average 5 sloping down and then you can consider the last bottom drawn by it at 1.2064 as a good stop loss if you need it in case of buy orders which is very advised according to the indicators signals. http://bigimage.cz/photos/20010105978655745198719.gif
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According to the Henkin Ashi you can see it showing a buy signal by having up arrow and a blue candles on the EURCHF Also you can monitor a red bar on the trend session indicator whith increase the chance to face down trend on the short term By the way we have a sell cross at Snake and T3-Clean indicators which can be a good signal for selling the pair By collecting all of this together I can bet on raising up till the resistance located at 1.2015 where you can consider it as a good area for claiming any buy positions profit http://bigimage.cz/photos/20010105978653928196985.gif
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When trying to analyze the EURCHF I can draw a bearish channel as you can see to narrow the market movement area between 2 trend lines Using the donchain channel you can see the price moving at the up edge of it then I can think about selling the price as long as no opposute signs appears on awesome oscillator Currently the awesome oscillator has a red bars which appears above the level of 0 which can be considered as a good sell signal Same on the stostatic indicator which show a buy signal by getting an up intersection between two lines near the 80 th level Till now bearish trend seems to be a stronger choise and by the way selling the pair targeting the low level of donchain channel is not bad idea http://bigimage.cz/photos/20010105978653084202049.gif
