GBP/USD DAILY as of Wednesday, 27 May, 2015

*** Intra-Daily Trading Strategy: BUY British Pound / US Dollar

Buy Target: 1.5450

Buy Stop:   1.5285 

Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.

(NOTE: Adjust Stop Loss Price according to your trading risk.)

Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!

* Chaos Trading System

SELL signal generated today. ENTER SELL and exit buy at market price on the next Daily open.

A black body has formed as prices closed lower than open.

The previous 10 candlestick bars, there are 4 white candles versus 6 black candles with a net of 2 black candles.

The previous 50 candlestick bars, there are 31 white candles versus 19 black candles with a net of 12 white candles.

Three black candles has formed during the last three bars. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.MACD is BEARISH as the MACD is below the signal line.

 The MACD crossed below the signal line 2 period(s) ago.  Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has decreased 0.65%, and has been fluctuating from a high of  1.569 to a low of  1.535.

The MACD is currently not in an Overbought/Oversold range.

There have been no divergence signals during the last 5 periods.

 No Stochastic Buy or Sell signals generated today. The last signal was a Sell 5 Period(s) Ago.

The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell  6 period(s) ago.

 

 The RSI has just reached its lowest value in the last 14 period(s). This is BEARISH signal.

Currently, the Momentum Oscillator does not show an overbought or oversold condition.

 

 The last Directional Movement Indicators (DMI) signal was a BUY 36 period(s) ago.

There were no SAR signals generated today. The last SAR signal was a Sell 5 period(s) ago.

The close is currently

BELOW its 200 daily moving average

ABOVE its 50 daily moving average

BELOW its 20 daily moving average

  The current market condition for British Pound / US Dollar is Bearish

British Pound / US Dollar closed above the lower Bollinger Band by 36.5%.  Bollinger Bands are 38.47% wider than normal.  The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.

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