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Technical Analysis on EUR/USD

Bearish on EUR/USD -Introducing Trading Center (TC) Index

Things in Eurozone are not going exactly well. Recession and high unemployment jeopardize the European Economy and pushes ECB to take instant measures. Even if Eurozone introduced Eurobonds the problem will not be sold. A great interest rate cut is absolutely needed which will lead mathematically to a long-term Euro depreciation. Moreover, Greek elections in the 17th of June will be crucial in determining the future of Eurozone.

Technical Analysis using TCI indicator on EUR/USD

After applying TCI indicator on EUR/USD we confirmed a Sell signal. Today is Thursday the 17th of May 2012 and the EUR/USD is at about 1.270. Long-term target is set to 1.210 and time frame is set to 16 working days. So we think that a downward movement of EUR/USD is possible to about 1.21 that should end in Friday, the 8th of June 2012.

EUR/USD pair since its birth (12/31/1998)

Starting with a common line chart on EUR/USD from its birth (12/31/1998) to today (5/17/2012). Black line represents daily closing EUR/USD quote and the blue line represents the moving average of 180 days.

Chart: Line Chart on EUR/USD 1999-2012

 

 

TC index on EUR/USD

For the first time we are presenting Trading Center (TC) Index on EUR/USD. Time frame is the same as before, from 31th of December 1998 to 17th of May 2012. Blue line represents daily closing EUR/USD quote and the red line represents the moving average of 180 days.

Chart: TC index Chart on EUR/USD 1999-2012

TCI indicator on EUR/USD –Bearish until the 8th of June

In previous analysis we have presented TCI indicator. Today we implement TCI indicator on EUR/USD.

Chart: TCI indicator on EUR/USD 1999-2012

 


Results of the previous Trading Center signal on Nasdaq Composite

Some days ago TradingCenter introduced TCI indicator. Our first public test concerned TCI indicator on Nasdaq Composite during the period 7th of May 2012 untilthe 15th of May 2012. Our signal Hold / Sell on Nasdaq has proved correct both in terms of forecasted trend but also in terms of the forecasted time frame. Additionally, our two forecasted lows in 8th of May and in 15th of May were both met. ? Read more about TCI on Nasdaq


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