HOT TOPICS LIST
- MACD
- Fibonacci
- RSI
- Gann
- ADXR
- Stochastics
- Volume
- Triangles
- Futures
- Cycles
- Volatility
- ZIGZAG
- MESA
- Retracement
- Aroon
INDICATORS LIST
LIST OF TOPICS
PRINT THIS ARTICLE
by Jayanthi Gopalakrishnan
Finally the faltering Euro saw an explosive upside move triggered mainly by the US joining forces with Japan and Europe to intervene into the currency markets to help boost the Euro.
Position: N/A
Jayanthi Gopalakrishnan
PRINT THIS ARTICLE
OPEN INTEREST
Is Recovery in Sight for the Euro?
09/22/00 03:14:11 PMby Jayanthi Gopalakrishnan
Finally the faltering Euro saw an explosive upside move triggered mainly by the US joining forces with Japan and Europe to intervene into the currency markets to help boost the Euro.
Position: N/A
| Contrarian investors who took advantage of the extreme negative investor sentiment would have benefited from today's explosive upside move. However, I am not convinced that today's price action signals a trend reversal. Although the price breakout was accompanied by extreme high volume, a positive indication, the open interest presents another story. Volume is plotted on the sub-chart below the price chart and open interest is plotted on the sub-chart below volume. |
| Open interest, which is defined as the total of all unclosed purchases at the end of a session, did not change significantly from the previous day. In the futures markets, a healthy trend is accompanied by increasing open interest. It is only when this open interest starts declining can you expect a reversal. No evidence of a significant decline in open interest should prompt you to adopt the "wait and see" approach. |
|
| A healthy trend is accompanied by increasing open interest. A decline in the open interest usually indicates a trend reversal. |
| Graphic provided by: Tradesignals.com. |
| |
| Title: | Editor |
| Company: | Technical Analysis of Stocks & Commodities |
| Address: | 4757 California Ave SW |
| Seattle, WA 98116 | |
| Website: | Traders.com |
| E-mail address: | Jayanthi@traders.com |
Traders' Resource Links | |
| Charting the Stock Market: The Wyckoff Method -- Books | |
| Working-Money.com -- Online Trading Services | |
| Traders.com Advantage -- Online Trading Services | |
| Technical Analysis of Stocks & Commodities -- Publications and Newsletters | |
| Working Money, at Working-Money.com -- Publications and Newsletters | |
| Traders.com Advantage -- Publications and Newsletters | |
| Professional Traders Starter Kit -- Software | |
Click here for more information about our publications!
Comments
Date: / /Rank: 4Comment:
Request Information From Our Sponsors
- StockCharts.com, Inc.
- Candle Patterns
- Candlestick Charting Explained
- Intermarket Technical Analysis
- John Murphy on Chart Analysis
- John Murphy's Chart Pattern Recognition
- John Murphy's Market Message
- MurphyExplainsMarketAnalysis-Intermarket Analysis
- MurphyExplainsMarketAnalysis-Visual Analysis
- StockCharts.com
- Technical Analysis of the Financial Markets
- The Visual Investor
- VectorVest, Inc.
- Executive Premier Workshop
- One-Day Options Course
- OptionsPro
- Retirement Income Workshop
- Sure-Fire Trading Systems (VectorVest, Inc.)
- Trading as a Business Workshop
- VectorVest 7 EOD
- VectorVest 7 RealTime/IntraDay
- VectorVest AutoTester
- VectorVest Educational Services
- VectorVest OnLine
- VectorVest Options Analyzer
- VectorVest ProGraphics v6.0
- VectorVest ProTrader 7
- VectorVest RealTime Derby Tool
- VectorVest Simulator
- VectorVest Variator
- VectorVest Watchdog