Economic Indicator
Measures the strength or weakness of all or part of a country’s economy.
EMA
See Exponential Moving Average
Engulfing - Bullish and Bearish
Measures the strength or weakness of all or part of a country’s economy.The first bar of the pattern is a long black/white day, which is then followed by a white/black candlestick that completely engulfs the total range of the first day.
In a downtrend, the market opens at a new low but buying pressure is so strong that it closes at or above the previous day’s open. This strong reversal suggests that the bulls are in control and may overwhelm the bears.
In an uptrend, the market opens at a new high but selling pressure is so strong that it closes at or below the previous day’s open. This strong reversal suggests that the bears are in control and may overwhelm the bulls.
It is very similar to a Key Reversal Day.
Envelope
Trading bands that are plotted as lines above and below a market normally by plotting a percentage of price around a central moving average.
Euro
Introduced on January 1, 1999, this currency combined its European member nations’ individual currencies into a new single currency, the Euro.
European Central Bank (ECB)
The regulatory body charged with setting monetary policy and controlling the money supply of the Euro.
European Monetary Unit
The Euro.
Evening Star and Morning Star
(Candlestick Reversal Pattern)
The first bar to develop in a morning or evening star is a long white/black day. This is followed by a gap in the direction of the trend and then a Short Day.
There will be no overlap between the first and second candlesticks. (The short day may be substituted with a Doji).
Finally there is a second black/white long day, gapping in the opposite direction, with no overlapping shadows.
The pattern is similar to an “Island Reversal” in classical patterns, representing a market that has over-extended in one direction, with little supporting sentiment. It is always preferable to have other supporting technical evidence of a potential reversal such as a bullish/bearish divergence or break of trend line.
Exchange Rate
The value, or price of one currency quoted in terms of another.
Expanded Flat
(Elliott Wave)
Occasionally in a correction the end of wave B will penetrate the extreme of the end of the impulsive wave. Wave C will normally retrace to the extreme of wave A. Wave A will be comprised of three waves. Wave C will be comprised of five waves. These normally occur before an extended wave and will signal a significant trend. This is also called an “irregular correction”.
Expanding Triangle
(Elliott Wave)
Expanding Triangle(1) The pattern emerges normally between two rising (or falling) diverging lines. It is most commonly found in wave 5 positions and occur before a large reversal in trend direction.
(2) The pattern emerges normally between one rising and one falling diverging lines. In this situation it is a continuation pattern and is merely an inverted standard triangle.
Exponential Moving Average (EMA)
A technical indicator that addresses the weighting limitations of the Simple Moving Average by assigning greater value to the most recent closing price, and a declining value to older prices, making it easier to see the general direction of a trend underlying market action.
Extended Wave
(Elliott Wave)
On occasion one of the impulsive waves can extend. An extending wave will be constructed of more than five internal waves, and the additional waves will be of the same degree as the others. Normally there will be 7 or 9 waves in an extended wave. Most often wave 3 will extend, but extensions in wave 5 are also very common.