ΣL EUR Composite - 27th December 2023 | @ 137 Days | - 0.59%
Last trade: - 0.59% | 'B' class signal detected in Sigma-L Euro composite (EUR vs JPY/USD/GBP/AUD/CHF/CAD/NZD/HKD). Average wavelength: 137 days / 15 iterations since June 2018. Currently moving down.
ΣL Cycle Summary
This strong periodic component has been influencing price movement to the downside relatively early in it’s phase from our EUR composite. Within the first up leg of the wave (late October to late December) there was significant variance amongst pairs, with EURUSD outperforming and both EURAUD and EURNZD moving early to the downside. The variance is somewhat explained by the smaller wave around 70 days wavelength, although this component is notably transient in the composite. The net result of the variance is a largely flat move from October. The larger wave in focus here, around 137 days, has now peaked and will exert even more downside on this selection in due course, with a trough expected mid February 2024.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Buy - ΣL EUR Composite 20th October 2023
Entry: 20th October, 2023
Exit: 27th December, 2023
For a composite analysis, each constituent’s respective gain over the period is displayed, in descending order. The average of the constituent gain is also shown.
Constituent Gain:
EURUSD (4.36%)
EURCAD (0.47%)
EURGBP (-0.23%)
EURCHF (-0.34%)
EURJPY (-0.76%)
EURAUD (-3.62%)
EURNZD (-3.98%)
Composite Average Gain:
- 0.59%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 136.9 Days
Completed Iterations: 15