EUR/USD indicator analysis for April 28, 2011
In the graph at the moment we can see a strong upside movement that has already broken the local resistance level.
The Alligator has its mouth open, which confirms bullish direction.
The Stochastic oscillator gives the strongest sell signal, having entered the overbought zone (92.92/90.23).
Along with the Stochastic, the RSI-14 entered the overbought zone, which it has not entered for two weeks already.
The MACD is showing a slight divergence with the price. The price is advancing with acceleration, while the MACD has a sideways direction.
At the moment we can expect possible stop and the reverse of the price with a correction movement. The correction movement might both have the length up to the 3-day high at 1.4474 and the support level at 1.4322.