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The Vulcan Report - Wed 2 June 2010

THE VULCAN REPORT
Review of Euro Currency (EUR/USD)
as of Tuesday, June 01, 2010




CHART PATTERNS

A black body occurred (because prices closed lower than they opened).

During the past 10 bars, there have been 6 white "UP" candles and 4 black "DOWN" candles for a net of 2 white (UP) candles.

During the past 50 bars, there have been 19 white "UP" candles and 29 black "DOWN" candles for a net of 10 black (DOWN) candles.

An engulfing bearish line occurred (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend. It then signifies that the momentum may be shifting from the bulls to the bears.

If the engulfing bearish pattern occurs during a downtrend (which appears to be the case with Euro Currency), it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.




PulseScan Swing Vix Swing Index

PulseScan: -23.68
Swing Vix: -24.36

Currently The Market Pulse is negative since it is trading below its signal line.The PulseScan crossed above the Swing Vix 0 period(s) ago.
The last signal was a +SWING VIX Buy 0 period(s) Ago.


PANDORA'S LITTLE BLACK BOX


PulseScan LONG ENTRY :

,,,,,,





Swing Vix SHORT ENTRY :

,,,,1st IntraDay BreakDown SHORT /,,


SWING TRADE ENTRIES
2nd PulseWave SHORT 12,153
1st PulseWave SHORT 12,245

DAY TRADE ENTRIES
2nd IntraDay BreakDown SHORT 12,099
1st IntraDay BreakDown SHORT 12,165

PROFIT TARGETS
1st IntraDay Profit Target 12,111
2nd IntraDay Profit Target 11,991

STOP LOSS
Stop Loss/Stop & Reverse 12,254

Watch for possible breakout longss - 2nd PulseWave - from 12,452



The Trend Channel is UP! (i.e. "Positive Swing Vix") This means that positive momentum is entering the market. Expect sideways to higher prices within the next 3-5 days
,
The Swing Vix is not currently in a topping (above 39) or bottoming (below -39) range. A buy or sell signal is generated when the Swing Vix moves out of an overbought/oversold area. The last signal was a Over-Sold Buy 8 period(s) Ago.


The Swing Vix does not currently show any Failure Swings.
The security price has set a new 14-period low while the Swing Vix has not. This is a bullish divergence.
Since the Swing Vix crossed its moving average, Euro Currency's price has been unchanged, and has ranged from a high of 12,352 to a low of 12,111.

MARKET TREND

Currently the TREND is VERY-BEARISH- Down.
The current market condition for Euro Currency is:

\Very Bearish

The close is currently Below it's 264 Long Term period moving average. 13,627
The close is currently Below it's 40 Intermediate Term period moving average. 12,963
The close is currently Below it's 10 Short Term period moving average. 12,509

Volatility

On 6/1/2010, Euro Currency closed above the lower band by 23.0%.



This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. The Vulcan Report accepts no liability whatsoever for any loss arising from any use of this expert or its contents.liability whatsoever for any loss arising from any use of this expert or its contents.

Attachment: 6-2-2010 7-48-38 am - eurusd chart.png
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