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0 The EURO exchange rate against the USDollar has been drifting lower for quite sometime where the recent EUR/USD 1.1460 retest has been sold off in technical indication of how the forex market sees the EURO exchange rate weakening further. The price/volume trendline of the EUR/USD in the chart can be defined as a broad Inverse Cup & Handle pattern a consistent bearish pattern that topped out at the EUR/USD 1.22<1.23 exchange rate level. The retracing downslope channel has constantly drifted below the IKH Senkou A/B nuage technical bearish trend while the lagging span line also retraces below the middle line of the retracement channel, thereby indicating with a lag that EUR/USD will break below EUR/USD 1.10 exchange rate level, where the main factor will become the Eurodollar interest rate differential, considering the Federal Reserve going to improve off the zero interest rate bound the Federal Fund rate with rate hikes, mean while the Euribor continues to be stuck at -0.40% negative EURO money market rates.
Both indicators in the chart RSI signal 48 neutral while the MACD oscillator gives a clear sell signal going forward, including any EURO upside could be considered a short rally cover.
Technical Indicators
| Name | Value | Action |
|---|---|---|
| RSI(14) | 48.452 | Neutral |
| STOCH(9,6) | 27.143 | Sell |
| STOCHRSI(14) | 15.296 | Oversold |
| MACD(12,26) | -0.000 | Sell |
| ADX(14) | 20.177 | Buy |
| Williams %R | -77.598 | Sell |
| CCI(14) | -96.5498 | Sell |
| ATR(14) | 0.0066 | Less Volatility |
| Highs/Lows(14) | -0.0014 | Sell |
| Ultimate Oscillator | 44.328 | Sell |
| ROC | -0.962 | Sell |
| Bull/Bear Power(13) | -0.0064 | Sell |
| Buy: 1 Sell: 8 Neutral: 1 Summary:STRONG SELL |
Moving Averages
| Period | Simple | Exponential |
|---|---|---|
| MA5 | 1.1327 Buy | 1.1326 Buy |
| MA10 | 1.1345 Sell | 1.1334 Sell |
| MA20 | 1.1335 Sell | 1.1344 Sell |
| MA50 | 1.1332 Sell | 1.1353 Sell |
| MA100 | 1.1390 Sell | 1.1424 Sell |
| MA200 | 1.1628 Sell | 1.1556 Sell |
| Buy: 2 Sell: 10 Summary:STRONG SELL |
EUR/USD FUTURES CURVE COULD EVENTUALLY PROVIDE ARBITRAGE OPPORTUNITY TO SHORT FUTURES DATED CONTRACT, BASED ON CURRENCIES INTEREST RATE DIFFERENTIAL
Put Premium Total$564,256.25
Call Premium Total$464,825.00
Put/Call Premium Ratio1.21
Put Open Interest Total38,339
Call Open Interest Total49,741
Put/Call Open Interest Ratio 0.77
