Economic News Archive

Daily Technical News - Mar 31, 2008

EUR/USD

The pair is still consolidating around the 1.5780 level, and it appears that the momentum on the 4 hour chart is moderately bullish. The daily chart is showing that there might be an attempt to breach through the 1.5850, and if a breach will occur we might see a stronger bullish move. Going long appears to preferable today.

GBP/USD

The cable is in the middle of a bearish corrective move ad is now floating around 1.9870. The momentum on the 4 hour chart is very bearish and it appears that there might be a testing of the Fibonacci level of 1.9805. going short might be the way to go today.

USD/JPY

The daily chart is very bullish as the slow stochastic shows no crosses and is floating at the 50 level. The 4 hour chart has been giving mixed signals with no distinct market direction for the past 4 trading days. Forex traders are advised to wait for a clearer bullish sign on the hourlies before entering the market.

USD/CHF

The pair is in a flat consolidation mode around the 0.9960 with no clear direction on the daily chart. The 4 hour chart is moderately bullish as the slow stochastic shows a positive slope. It appears that waiting for a significant bullish breach might be a wise choice before entering the market.

Daily Technical News - Mar 28, 2008

EUR/USD

The pair is consolidating at 1.5780 on the short term, and it appears that the momentum on the 4 hour chart is moderately bullish. The daily chart is showing that an attempt to breach through the 1.5850 is quite imminent, and might occur as early as the beginning of next week. Going long appears to preferable today.

GBP/USD

The cable is currently correcting down on a local level within the bigger bullish trend. The cross on the 4 hour chart indicates that the bullish trend's comeback is at the doorstep. A strong breach through 2.0058 will validate the bullish return.

USD/JPY

The daily chart is very bullish as the slow stochastic shows no crosses and is floating at the 50 level. The 4 hour chart is giving mixed signal with no distinct market direction. Forex traders are advised to wait for a clear bullish sign on the hourlies before entering the market.

USD/CHF

After the strong bearish drop to the 0.9650 levels, the pair shows a moderate consolidation on the 0.9930 level. The 4 hour chart is showing a slightly bullish momentum, as the daily chart supports the bullish notion. Going long with tight stops might be a wise choice today.

Daily Technical News - Mar 27, 2008

EUR/USD

The pair is in the middle of a very strong bullish trend and is now traded around 1.5780. The daily slow stochastic is showing that there is still room to run and that 1.5830 is a very strong resistance. If the pair breaches the resistance level, we might see a stronger bullish move that might take the pair into the 1.5900 zone. A failure to breach might bring a moderate corrective move.

GBP/USD

The cable is still floating around the key Fibonacci level 2.0060 and shows moderate bullish momentum. The daily slow stochastic is still bullish as the 4 hour chart provides mixed signals. Forex traders should wait for a significant bullish break before swinging into the trend.

USD/JPY

The momentum which was created after the bearish breach through the flag on the 4 hour chart continues with full steam. The daily chart is still very bearish as the 4 hour chart is starting to show first signals of a moderate bullish momentum. It might be preferable to sell on highs today.

USD/CHF

There is a widening bearish channel forming on the 4 hour chart as the pair now floats at the bottom level of it. A bullish cross on the slow stochastic supports the notion that the pair will test the upper level of the channel, probably before the weekend. Going long with tight stops might be a good choice today.

Daily Technical News - Mar 26, 2008

EUR/USD

The daily chart is showing strong bullish momentum as the slow stochastic is showing no crosses and is still floating at the 50 level. The 4 hour chart shows a moderate bearish cross which might indicate on a local corrective move before the bullish trend resumes. Buying on dips could be a great strategy for today.

GBP/USD

The cable has been showing bullish consistency and is now traded around 2.0050 which is a key Fibonacci level. A breach through that level will validate a very strong bullish move with a potential target price of 2.0180. Going long might be a wise choice today.

USD/JPY

There has been a very significant breach through the very distinct flag formation on the 4 hour chart. The bearish cross of the slow stochastic is supporting the bearish notion, and the next target price might be around 99.20.

USD/CHF

After the pair breached through the bullish channel of the 4 hour chart it bottomed at 1.0040 and is now showing its first bullish signals. There is a very distinct bullish cross on the slow stochastic of the 4 hour chart which indicates that the pair might have room to run up to the 1.0150 area. Going long might be the way to go today.

Daily Technical News - Mar 25, 2008

EUR/USD

The pair corrected to the 1.5300 levels which is a key Fibonacci level yet failed to make a bearish breach. There is a bullish cross forming on the daily chart, and together with a sharp bullish spike it appears that there is now more room to run upwards. Next target price might be 1.5660.

GBP/USD

The cable is in the middle of a bullish trend which according to the daily chart has positive momentum. The RSI is floating at 50 and the slow stochastic is showing no reversal crosses. It appears that the bullish trend might continue with a target price of 2.0070.

USD/JPY

There is a very distinct narrowing bullish channel forming on the 4 hour chart as the pair now floats on the bottom barrier of it. The slow stochastic is showing a triple top formation with a positive slope, which indicates that the continuation of the bullish trend is quite imminent. Going long might be the right way to go today.

USD/CHF

The bullish channel which was initiated at 0.9800 continues with full momentum. The Slow Stochastic of the 1 hour chart implies on an additional bullish move, and the RSI is showing that there might be a breach through the upper level of the channel in the next 48 hours. Going long with tight stops might be preferable today.

Daily Technical News - Mar 24, 2008

EUR/USD

There is a bearish channel forming on the 4 hour chart, as the pair now shows moderate bearish momentum and is floating in the middle of the channel. The slow stochastic is pointing on additional room, for the correction, and the next target price might be 1.5300.

GBP/USD

The cable has breached through the 1.9810 which a key Fibonacci level and has validated the next bearish move. The RSI is heading to the 20 level and the slow stochastic shows no cross. It appears that going short with tight stops might be a good choice.

USD/JPY

The pair is showing a strong bullish break on the daily chart and the RSI is floating at 50. The Bollinger bands are still very wide, and no crosses are seen on all time scales of the Slow Stochastic. This indicates that there should be no up coming reversal move, and that the bullish trend might continue. Next target price might be 100.50.

USD/CHF

There is a very tight bullish channel forming on the 4 hour chart as the pair now floats in the mid section. The slow stochastic is showing a positive slope formation and the daily chart is showing very wide Bollinger bands. It appears that the bullish momentum will continue, probably up to the top level of the channel at 1.0230.

Daily Technical News - Mar 21, 2008

EUR/USD

After making a sharp correction to the 1.5400 level, the pair is now consolidating on that area. The 4 hour chart is showing a strong reversal cross after a three top formation with negative slope. The daily chart is supporting the reversal notion, and it appears that going long might be a good choice today.

GBP/USD

The cable is floating around the key Fibonacci level of 1.9850 and is now regaining bullish momentum. There is a bullish cross forming on slow stochastic of the 4 hour chart, which indicates that this might a good entry point for a long position.

USD/JPY

The pair is about to make a second attempt to breach through the 100.00 level after the first attempt failed to validate the bullish breach. The momentum is very strong at the moment and if a breach will occur, it will validate a possible additional bullish trend that might take the pair back to the 101.00 levels.

USD/CHF

The daily chart is showing 4 consecutive days on an increase, as the momentum is bullish than ever. The slow stochastic of the daily chart is floating on mid levels and shows no crosses. Going long might be a great position today.

Daily Technical News - Mar 19, 2008

EUR/USD

After bottoming out at 1.5620 after the Fed rate cut turmoil, the pair appears to be resuming its familiar bullish path. The daily chart is showing a bullish cross on the slow stochastic as the hourlies are still moderately bearish. Buying on dips looks to be an excellent choice today.

GBP/USD

The cable is floating between two major Fibonacci key levels with bullish momentum on the daily chart. The 4 hour RSI is floating on the 50 level with a positive slope which indicates that we might see a test of the 2.0230 level before the weekend. Being on the buy side appears to be preferable. .

USD/JPY

The 4 hour chart is showing that the bullish corrective momentum has diminished and is now slightly bearish. The bearish cross on the slow stochastic strengthens the bearish behavior of the pair, and could see a valid target price at 98.10.

USD/CHF

After a very sharp drop and a test of the 0.9630 level, the pair has shown a moderate correction. The daily chart is giving mixed signals, and the 4 hour chart is slightly bearish. Forex traders are advised to wait for a clearer signal before entering the market with that pair.

Daily Technical News - Mar 18, 2008

EUR/USD

After a very sharp bullish trend, the pair appears to be consolidating around 1.5750. The daily chart is showing two consecutive bearish bars and the slow stochastic is showing a bearish cross. It appears that there might be a local corrective move before the bullish trend continues.

GBP/USD

The cable is floating at a key Fibonacci of 2.0050 without a significant bearish breach. The 4 hour chart is showing a bullish cross on the slow stochastic and the RSI is floating at the 50 level. It appears that the momentum is bullish, and a valid target price might be 2.0110.

USD/JPY

The pair is showing local bullish momentum on the hourly level after a very violent drop to the 96.00 level. The daily chart is still bearish which means that it might be preferable to sell on highs today when the moderate corrective move ends.

USD/CHF

After bottoming at 0.9650 the pair has been showing steady appreciation and is now traded around 0.9850. The hourlies are showing fresh bullish momentum, and the daily chart supports the bullish notion. The slow stochastic of the daily chart is showing a bullish cross which means that the corrective move might continue to the 0.9960 by tomorrow. Going long with tight stops might be a good choice today.

Daily Technical News - Mar 17, 2008

EUR/USD

The pair continued to show strong bullish momentum overnight, and is now traded around 1.5800. There is a bearish cross forming on the slow stochastic of the 4 hour chart which indicates that a local correction might be imminent, before the bullish trend resumes. Buying on dips might be a wise choice today.

GBP/USD

There is a very distinct bullish channel forming on the 4 hour chart as the cable now floats around the bottom level of it. The slow stochastic is indicating a reversal move, which means that it might be a good entry point for a long position.

USD/JPY

The pair continued to plummet after the very important breach through the 100.00 level was validated. There is local bullish momentum on the hourlies which indicates that we might see a moderate bullish corrective move before the bearish momentum resumes. Selling on highs might be a good strategy today. .

USD/CHF

The 4 hour chart is showing a fresh cross on the slow stochastic, and RSI which is floating around the 40 level. This means that on the short term we might see the pair correcting back to the 0.9950 level before resuming the very strong bearish trend. Traders might want to keep track of the pair's fresh high before entering the market with a short position.

Daily Technical News - Mar 14, 2008

EUR/USD

The pair continued this week's trading session with strong bullish momentum, and is now once again trading around all time record levels around. The 1 hour and the 4 hour chart are indicating further bullish momentum, and the daily chart is showing that a potential corrective move is not imminent.

GBP/USD

The cable is still showing strong bullish momentum on the daily chart and on the 4 hour chart with plenty of room to run. The hourly is showing a moderate bearish signal which might make it wise for Forex traders to buy on dips. Next target price will be 2.0350.

USD/JPY

The pair was in the middle of a massive bearish trend as indicated on the 4 H chart by the 6 consecutive falling bars. The bullish cross forming on the daily chart is now in its middle stages. The daily chart indicates the continuation of the bearish trend locally, making it preferable for Forex traders to buy on dips.

USD/CHF

The pair is showing some consolidation at the key resistance level of 1.0100 after a sharp drop over the past two weeks. The daily chart is still very bearish, yet the 4 hour chart is showing hints of a local correction. Selling on highs might be a good strategy for today

Daily Technical News - Mar 13, 2008

EUR/USD

The bullish rally continues at full steam as the pair touched 1.5580 in early European session. There is a local consolidation around 1.5530 and the pair is accumulating momentum ahead of the next move. All oscillators are bullish, and the next target price might 1.5600.

GBP/USD

There is a clear bullish channel forming on the daily chart as the cable breached the upper level of it. This is a key level breach as 2.0280 is a strong Fibonacci level which may indicate the bullish momentum is still in its early stages. It appears that a valid target price for this move might be 2.0380/

USD/JPY

The pair is in the middle of an extremely violent bearish move, and is approaching the historically important 100.00 level. All oscillators are bearish, and a breaching test of the strong support level should be imminent. If a breach occurs, then we may see the pair reach levels it hasn't seen in more than 10 years. Traders are advised to stay out before any clear signal appears.

USD/CHF

Similarly to what is happening all across the board, the USD bearishness did not skip this pair as well. It appears that the local bearish momentum might be taking the pair to the 1 USD per CHF. There are several bullish signals on the hourly level, yet it seems that pair is overlooking all technical aspects. Going short appears to be the smartest move today.

Daily Technical News - Mar 12, 2008

EUR/USD

The pair has been quite choppy in the past two days yet no clear direction was seen. The daily chart is showing moderate bearish signals as the 4 hour chart is still quite bullish. The very wide doji formation on the daily chart indicates that a break might be imminent, so traders are advised to wait for the breach and swing.

GBP/USD

The cable is showing strong bullish momentum on the daily chart and on the 4 hour chart with plenty of room to run. The hourly is showing a moderate bearish signal which might make it wise for Forex traders to buy on dips. Next target price might be 2.0210.

USD/JPY

After bottoming at 101.50 and bouncing back to 103.00, the pair is resuming the bearish movement. The slow stochastic of the 4 hour chart is showing a strong bearish cross, and it looks as if the strong support of 101.50 might be breached before the weekend.

USD/CHF

There was a short bullish corrective move after the very strong bearish trend, as the pair now appears to ct be consolidating around 1.0300. The 4 hour chart is showing a bearish cross, and with a very bearish daily chart, the right direction appears to be down.

Daily Technical News - Mar 11, 2008

EUR/USD

After a very strong bullish trend the pair is showing some consolidation on the past few days. There is a bearish cross forming on the 4 hour chart which indicates a possible upcoming reversal move. The 1 hour RSI is support the bearish notion, and Forex traders are advised to wait for the break and swing in the trend.

GBP/USD

The cable is floating around 2.0060 which is a key 38.2% Fibonacci level of the 2.1130/1.9400 move. If a breach through that level will be validated with a full bar on the daily chart, we should see a stronger bearish move continue until the 1.9900 zone, and it would be advisable to enter the market with a short position.

USD/JPY

After a touch at the 101.50 level, the pair now shows its first signs of a bullish movement. The 4 hour chart is showing the formation of a strong bullish cross, and together with the RSI at the 50 level, we should probably see a moderate corrective move in the next 48 hours.

USD/CHF

The pair is showing some consolidation at the very deep abyss of 1.0200 after a sharp drop for the past two weeks. The daily chart is still very bearish, yet the 4 hour chart is showing hints of a local correction. Selling on highs might be a good strategy for today.

Daily Technical News - Mar 10, 2008

EUR/USD

After a local drop on Friday, the pair is now regaining bullish momentum and the breach through the 1.5400 might be quite imminent. The daily chart is very bullish, and the hourlies support the bullish notion. Going long might still be a preferable direction.

GBP/USD

There has been a key level breach through the 2.1010 which is the 50% Fibonacci level of the November bearish move. It appears that the cable might have more bullish momentum until reaches 2.2060 which is the next Fibonacci level and a key resistance at the moment. Longs with tight stops should be the weapon of choice today.

USD/JPY

It has been nothing but bearish momentum for the pair in the past two weeks, and the situation appears to be continuing at full throttle. The pair is breaking one support level after another and no halt appears to be in sight. The next target price should be around 101.50.

USD/CHF

The pair is in consolidation around 1.0200 after a very strong bearish trend and extremely violent session on Friday release of the Nonfarm Payrolls. The daily chart is giving mixed signals with moderate bullish momentum, as the hourlies are still quite bearish. Buying on dips might be a good solution today.

Daily Technical News - Mar 06, 2008

EUR/USD

The pair breached the 1.5300level which validated the next bullish move, as we now see a consolidation around that Fibonacci level. the pair is moving strongly with the trend although we might see a moderate bearish correction today.

GBP/USD

The 4 hour chart indicates that the bearish trend has not yet said its last word. the slow stochastic is showing a classic positive slope structure which indicates upcoming incresing momentum. The daily chart shows an incresing direction, as no clear reversal cross is in sight.

USD/JPY

After the familiar tight range we saw the pair trading in, it continues with an uncertain trend. We might see a correction upwards today. Due to no significant signal, JPY traders may look to the interesting candle formation on the weakly chart which may be signally a reversal.

USD/CHF

There is a very interesting cross on the daily slow stochastic chart which might indicate an upcoming move. However we are still in a bullish momentum. It appears that going long would be preferable today.

Daily Technical News - Mar 05, 2008

EUR/USD

The pair continues to consolidate around 1.5180, and moderate bearish momentum is being created on the 4 hour chart. The daily slow stochastic is showing a bearish cross, and the correction towards the 1.5100 appears to be imminent. Going short with tight stops, might be a good choice today.

GBP/USD

The cable has made the first step of the bearish correction move and appears to be continuing with that notion. The slow stochastic of the 4 hour chart is showing negative slope, and the RSI is floating on the 50 level, which indicates that the pair still have much more room to run. The first target price might be 1.9700.

USD/JPY

After bottoming at 102.50 the pair is gaining in a moderate corrective move and is now floating around 103.60. There is a very bullish structure forming on the slow stochastic of the 4 hour chart, and the momentum is high. Going long appears to be the preferable strategy today.

USD/CHF

After a moderate bullish correction, the pair is heading south again and is now traded around 1.0400. The 4 hour chart is showing growing bearish momentum, and the daily study supports the bearish notion. The estimated target price for the next move should be around 1.0340.

Daily Technical News - Mar 04, 2008

EUR/USD

The strong bullish momentum is calming and the pair is finding consolidation at 1.5180. The slow stochastic on the 4 hour chart is showing a negative slope, which indicates that a corrective move might be quite imminent. Going short with tight stops might be a good decision today.

GBP/USD

The daily chart is showing that the cable is trading in a range with no specific direction for the past 6 trading days. The very strong resistance level of 1.9900, and the bearish cross on the daily slow stochastic indicates that a local bearish move might take the cable back to the 1.9800 levels as a first target price.

USD/JPY

After bottoming at 102.60 the pair shows fresh bullish momentum and is now floating around 103.20. The cross on the daily slow stochastic is very strong and will most likely cause a local technical corrective move. The RSI which has crosses the 20 level from above support the bullish notion, and it appears that although the USD/JPY will likely range trade, being on the buy side of such activity might be a preferable strategy.

USD/CHF

The failure to breach beyond the 1.0300 level on the daily chart establishes a very strong support level at that point. A bullish cross on the daily slow stochastic indicates an upcoming move that might take the pair to the 1.0500 zone quite quickly. Going long might be preferable today.

Daily Technical News - Mar 03, 2008

EUR/USD

The pair opened this week's trading session with strong bullish momentum, and is now traded at all time high levels around 1.5230. The 1 hour and the 4 hour chart are indicating on additional bullish momentum, and the daily chart is showing that a potential corrective move might not occur before the pair hits 1.5290.

GBP/USD

The pair opened this week's trading session with strong bullish momentum, and is now traded at all time high levels around 1.5230. The 1 hour and the 4 hour chart are indicating on additional bullish momentum, and the daily chart is showing that a potential corrective move might not occur before the pair hits 1.5290.

USD/JPY

The pair is going through a massive bearish trend, as the daily chart shows 6 consecutive sharp falling bars. There is a bullish cross forming on the daily chart, yet it's still in early stages. The 4 hour chart indicates on the continuation of the bearish trend locally, making it preferable for Forex traders to buy on dips.

USD/CHF

The pair has been dropping constantly since the local consolidation around 1.0900, and is showing no signs of a halt. There are now the first signals of a corrective move on the daily chart which shows a strong bullish cross on the slow stochastic. The hourlies are floating in neutral territory, and a preferable strategy might be to keep out of this one until a clear signal will appear on the 4 hour chart.