Our first Daily Forex Snapshot was posted back in November 24th 2011. Our BearBull Index on Eur/Usd was at that time showing 10 indicators in favor of the bears, none for the bulls (check our archives).
From this date, our BearBull index never turned against the bear, scoring once 6 points at its lowest on 3rd January 2012. From a pure statistic point of view, investors who play this market short had the odds in their favor, nothing else. By the way, the BearBull indicator turned negative back on 8th November 2011, price closing that day at 1.3825. That’s the goal of our index, put the odds in your favor – this is not an automatic trading system – the index just displays current odds.
Today, this indicator scores 9 points for the bears, while the price felt hard from 1.3075 and touched 1.2665 yesterday. We invite you to check our volatility indicator (violet), which moves to the downside, warning price is losing momentum/force. Correction ahead ?
Time will tell, the idea of this post was just to answer to a couple of questions from our readers about our F.A.M.C. index.
Go to to forex-analysisblog.com to day’s Snapshot 10.01.2012.
Have a successful trading day.