Economic News Archive
Daily Technical News - Jan 13, 2008
EUR/USD
The 4 H chart indicates that there is still room for this pair to reach new heights, particularly after this pair breached the key 1.4800 resistance level yesterday. Both the RSI and momentum are positive indicating that this pair should continue its bullish rampage. However the dailies indicate that we are in overbought territory, so it may be a good time to begin pairing off some of those long positions.
GBP/USD
Bollinger bands are widened indicating increased volatility. Both the hourlies and the dailies support a bearish signal. This pair is still within a steady downward channel which is evident from the 4 H chart. Going short still seems to be the preferable strategy.
USD/JPY
On the 4H the RSI is breaking the 50 mark and is indicating that this pairs bearish run has still got some steam. The daily chart is also bearish and this pair will now target the 108.00, once that is breached we could see even sharper moves downward.
USD/CHF
This pair is still in the midst of a steady downtrend which is not yet showing any sign of leveling out. The RSI and Momentum are still negatively sloped indicating that there is still plenty of steam left in this bearish move. Once this pair breaches the 1.1000 level likely to make another sharp break downwards.
Daily Technical News - Jan 10, 2008
EUR/USD
The pair has been trading in a tight range for more than a week and is now showing some consolidation at 1.4717. The daily chart is quite neutral and shows no strong signal of a break direction. The hourlies support the neutral sentiment. Traders should wait for a clear signal before entering the market.
GBP/USD
The bearish channel on the daily chart continues at full strength. The cable is now floating at the upper level of the channel, and together with the slow stochastic and RSI creates a very strong bearish momentum that might take the cable to beyond the 1.9600 level by the end of this week. Being on the short side might be preferable today.
USD/JPY
The bullish correction the pair initiated at 108.00 continues with moderate momentum. The slow stochastic on the daily chart shows that there is still more room to run and that the pair might breach the 110.50 soon. Hourly studies confirm the bullish sentiment, and it appears that going long might be preferable today.
USD/CHF
The pair appears to be heading back to the 1.0900 with a relatively strong momentum, as clearly shown by the oscillators on the daily chart. The hourlies are showing a small bullish cross on the 4 hour chart that might take the pair to a correction before resuming the bearish move. Selling on highs might be a wise move today.
Daily Technical News - Jan 9, 2008
EUR/USD
The bullish trend is expected to maintain its Momentum as the Slow Stochastic (41) and RSI (44) on the 4 Hour have a positive slope which supports the bullish trend as the first target price is located at 1.4738 (Fibonacci 76.4%). The daily momentum is showing that there might be a correction before the uptrend resumes at full strength. Buying on lows might be a good choice today.
GBP/USD
The cable is showing its first signs of a correction as implied by the Slow Stochastic, RSI and Momentum which have a positive slope. The 1.9780 (Fibonacci 23.6%) was breached which validates the bullishness and it seems that the cable is steadily going to the 1.9850 as the next step.
USD/JPY
A reverse Head & Shoulders structure is forming on the 4 Hour chart offering the 109.85 (Fibonacci 23.6%) as the next target price. This structure is supported by the Slow Stochastic, RSI and Momentum which all have a positive slope. It looks as if the bullish trend has been validated and that the pair will move north with a possibility of a touch at the 110.80 level.
USD/CHF
The bearish trend is expected to continue as Slow Stochastic crossed the 82 which is clearly in the overbought territory, the RSI 89 and Momentum have a negative slope offering next target price at 1.1125 (Fibonacci 23.6%). Going short might be preferable today.
Daily Technical News - Jan 6, 2008
EUR/USD
The positive momentum is growing stronger, and the 4 Hour chart is showing some room to run on the bullish side. However the daily chart indicates that we are in overbought territory with RSI and slow stochastic floating around the 80 level. This pair should correct slightly before making another surge upwards. Its next bullish target price will be 1.4800.
GBP/USD
The cable is continuing to trade in a wide range with a strong signal on the bearish side. The 4 Hour chart is showing a bearish cross and the dailies are indicating a solid downtrend in the making. If the cable breaches the strong 1.9700 support level, we should see it make another sharp freefall.
USD/JPY
There is strong negative momentum surrounding this pair and it is now floating around the 122.50 level. The daily chart is bearish and is supported by a bearish 4 Hour study as well. It looks as if the next target price for this pair will be to breach the all important 109.00 support level.
USD/CHF
After several attempts to break through the very important support level of 1.1100, the pair just managed to peak through. However at the moment the pair seems to be consolidating around the 1.1120. The ongoing momentum is down, as traders should pay close attention to the 1.1100 level, as if it is breached than a much deeper move would be imminent.
Daily Technical News - Jan 3, 2008
EUR/USD
The pair has been ranging in the past few hours and it shows no distinct direction. The daily studies are showing bullish signals and the hourlies are currently neutral. A preferable strategy might be to wait for the hourlies to deliver a positive signal, and look for a good entry point for a long position.
GBP/USD
The cable is having difficulties breaking through the 1.9860 violently. If the attempts will succeed we will see the continuation of the downtrend, but if it will not, it will validate the correction back to the 2.0000 levels again.
USD/JPY
The pair has been dropping for the past week from 114.00 to 111.54 and is now consolidating around 111.65. The sentiment is mildly bearish as the negative momentum on the 4 hour chart is growing. A violent breach through the 111.30 will validate the bearish move and probably take the pair to 111.00.
USD/CHF
After shortly testing the 1.1350 area, the pair has corrected a bit back to the 1.1275 zone. The 4 Hour chart is showing bearish signals again and the daily chart's RSI and slow stochastic are floating on the 50 levels which indicates that we might see the pair hitting 1.1210 before the weekend. A break back below the 1.1244 will validate a deeper correction down.