NEWS Forex-Archive

Daily Technical News - Feb 29, 2008

EUR/USD

The Bollinger Bands are widened indicating increased volatility. This pair has been on a sharp upward trend over this week, but now indicators on the 4 H chart are beginning to give a bearish signal. However the daily chart is flat so there is a possibility of further bullish momentum today.

GBP/USD

On the 4 H chart we can see that this pair is near the top of horizontal channel. The Stochastic Slow is crossing above 80 and is a strong indication that we are in deep overbought territory and that a reversal may be imminent. Also RSI and Momentum are negatively, indicating further bearish movement.

USD/JPY

This pair fell sharply yesterday breaching the key 105.00 resistance level. The hourlies and daily charts are still giving a strong bearish signal. The next target price will be to breach 104.00 mark.

USD/CHF

This pair has been in a steady downward channel over the last few weeks. However this pair has made a sharp downward breakout this week, indicating that it will now target new lows. Going short will still be the preferred strategy today.

Daily Technical News - Feb 28, 2008

EUR/USD

After peaking at the all time high of 1.5140 the pair now shows signs of bearish sentiment on the 4 hour chart. The daily chart still remains very bullish, which means that once the corrective move will consume its momentum, the bullish move will continue. Buying on dips might be a good choice of action before the weekend.

GBP/USD

The cable failed to breach through the 1.9950 level, which is a strong resistance and a key Fibonacci level. The bearish cross on the daily chart indicates on an upcoming corrective move that might take the cable below the 1.9750 on the local level. The 4 hour chart is giving mixed signals, which means that Forex traders must wait for a clear bearish signal on the hourly level before making an entry.

USD/JPY

The pair has made an aggressive bearish move within the flat channel of the daily chart, and is now approaching strong support. The 1 hour chart is showing local consolidation around the 106.20 level, and the bullish cross on the 4 hour chart is indicating that moderate bullish momentum is starting to form. Buying on dips could be a good strategy today.

USD/CHF

After the pair breached the strong key level of 1.0750, and validated the bearish move with a full bar beneath the breach level, it appears that the momentum is stronger than ever. Both the daily and the hourly studies are very bearish and a target price of 1.580 appears to be quite possible.

Daily Technical News - Feb 27, 2008

EUR/USD

The pair has breached the much anticipated 1.50 key level and is now traded at all time high levels around 1.5040. The bullish move was validated and the momentum is now very strong. It appears that the pair is going towards the 1.5090 on the immediate level, and that going long should be a preferable choice today.

GBP/USD

The bullish trend is very strong as the cable is carried up on the back of the USD weakness. There is a bearish cross forming on the 4 hour chart, yet with a strong bullish momentum on the daily chart it might be a good choice to buy on dips, as the local correction move unfolds.

USD/JPY

The pair is shaping into a bearish formation within the flat channel. The slow stochastic on the daily chart indicates that the momentum is relatively strong, and the RSI supports the bearish notion. Next target price might be around 106.50, and if breached we should see a stronger bearish move being validated.

USD/CHF

The key level of 1.0700 was breached yesterday, after three failed attempts on the daily chart. The bearish move is validated on the 4 hour chart as no reversal cross are seen. All oscillators are pointing to the continuation of the trend, and the next target price is now 1.0650.

Daily Technical News - Feb 26, 2008

EUR/USD

The pair has been going through a consolidation phase after a very strong and consistent period of bullish momentum which was initiated near the 1.4450 level. The daily chart is showing its first bearish signals, and the 4 hour chart is floating in neutral territory. It appears that a correction move might be quite imminent with the first target price of 1.4720.

GBP/USD

The daily chart is showing a triple doji formation with a bearish cross on the slow stochastic. The 4 hour chart is already indicating escalating bearish momentum, with RSI and slow stochastic at a negative slope. It appears that going short might be preferable today.

USD/JPY

The pair has not yet made a significant move beyond the flat range it has been going through in the past month. Forex traders are anxiously waiting for any breaks to signal an upcoming strong trend, yet none are coming. All oscillators are quite neutral, and no distinct direction is seen on the horizon. It is advised to wait for a clear sign before entering the market.

USD/CHF

After going through a very choppy month, the pair finds local consolidation at the 1.0900 zone. The daily chart is showing some bearish momentum with negative slope on the slow stochastic, as the 4 hour chart is showing moderate bullish sentiment. It appears that selling on highs might be preferable.

Daily Technical News - Feb 25, 2008

EUR/USD

The bullish channel continues with strong momentum as the pair now floats around 1.4828. The slow stochastic on the 4 hour chart is floating around 50 which indicates that the bearish signal is in place. The RSI is forming back into bullish formation and supports the general notion. Next target price might be 1.4883.

GBP/USD

The cable is going through choppy sessions within a wide range with no distinct direction in the past two weeks. A fresh bearish signal can be seen on the 4 hour chart, and together with a bearish cross on the daily slow stochastic, the bearish momentum is quite strong. Going short appears to be favorable today.

USD/JPY

After a short period of time that the pair peaked at the 108.40 zone, we see that a consolidation in a tight range is the name of the game again. The local momentum within the channel appears to be bearish, and it appears that a touch in the 106.50 zone might be close. Selling on highs might be a good choice today.

USD/CHF

The pair is entering a bearish formation on the daily chart as the RSI floats near 50 with a bearish slope. The 4 hour slow stochastic supports the bearish notion and points at an upcoming test of 1.0800, possibly by Wednesday. If that level will be breached we will see a stronger bearish move that might take the pair to the 1.0720 zone.

Daily Technical News - Feb 22, 2008

EUR/USD

The 4 hour chart indicates on an upcoming bullish trend when the long term Moving Average (Weighted 21) crossed by a bullish bar. Additionally the ADX (Average Directional Movement) also strengthens our opinion while the DI+ is on its way crossing the DI- from below which is considered a bullish signal. Going long seems to be preferable.

GBP/USD

On the 4 H chart, a rising wedge (bullish) is forming which may imply a continuation of the bullish carry trade, it is recommended to time the entrance to the market with short term charts, 1.9560 seems like a strong entry point. At the moment GPB USD is being traded around 1.9550 to 1.9720 range. The volatility is low; we should expect to see also today a bullish pressure on the GBP. The uptrend should continue on 1.9740 resistances.

USD/JPY

The pair is showing a very strong bearish momentum that appears to be overlooking the normal price movement proportions, and is now trading at the impressive 107.21 level. The direction appears to be down, as both RSI and slow stochastic strengthen the bearish notion. Going short with tight stops might be preferable today.

USD/CHF

After touching a base at 1.0865, the pair now consolidates a bit higher at 1.0900. All oscillators show that the bearish momentum will probably continue, and that a breach through the next key level of 1.0750 is quite imminent. If the key support level will hold, we might see a correction back to the 1.1050 levels.

Daily Technical News - Feb 21, 2008

EUR/USD

There is a widening channel forming on the 4 hour chart as the pair now floats in the middle of it. The slow stochastic is showing strong bullish momentum together with the RSI on the 50 level. The daily chart supports the bullish notion, and the next target price appears to be 1.4780.

GBP/USD

The cable is floating in a very strong support zone, and is not very far from the recent bottom of 1.9400. At the moment all oscillators are showing signs of a bullish reversal move, which might transform into a local correction move. On the other hand, if the cable will breach the support level, we will probably see a very violent bearish move.

USD/JPY

The tight range that the pair is trading in has started to form into a bullish channel with moderate momentum. The daily chart is showing that the pair is trading at the lower level of the channel, and together with the positive slope of the daily RSI, we might see a bullish move quite soon. Going long with tight stops might be preferable today.

USD/CHF

The pair has been going through choppy price behavior with no distinct direction in the past two weeks. The bearish momentum is back on the local level, and 1.0900 appears to be a valid target price for the upcoming move. Both the daily and the 4 hour slow stochastic are supporting the bearish notion. Going short with limits around the support level might be a good strategy today.

Daily Technical News - Feb 19, 2008

EUR/USD

The pair is showing strong bullish sentiment again, and has made a relatively fast move that topped at 1.4710. The 4 hour chart is bullish and the slow stochastic is pointing to a strong bullish momentum. Next target price is 1.4750.

GBP/USD

After several failed attempts to breach through 1.9480, it appears that the cable is showing some bullish signals with increasing momentum. The bullish cross with the positive slope on the 4 hour chart strengthens the notion that a move back to 1.9600 is quite imminent.

USD/JPY

The consolidation around the 108.20 level has ended, and the pair is showing strong bearish momentum again. It appears that the bullish breach above the range was not validated, and that range trading might be the name of the game. Taking short term selling positions might be the right move today.

USD/CHF

The 4 hour slow stochastic is showing a strong bearish cross, as the pair already started to drop. Both daily and 4 hour chart are showing plenty of room for the bearish trend, and a touch at the 1.0900 might be very possible today.

Daily Technical News - Feb 13, 2008

EUR/USD

The daily chart indicates a relatively high bullish momentum as the slow stochastic is floating around the 50 level. The 4 hour chart is supporting the bullish notion yet it might be preferable to wait for a significant break above the 1.4600 in order for the next move to be validated.

GBP/USD

There is a very distinct downwards channel forming on the 4 hour chart as the cable now floats in the mid section of it. The momentum is locally bullish, and traders must wait for a breach beyond the upper level of the channel at 1.9620 in order for the correction move to be fully validated. A failed breach will keep the cable floating within the channel in a mild bearish movement.

The flat tight range is still in place, as the pair is showing very weak bullish momentum within the range. The Bollinger Bands are very tight on the daily chart which indicates that the break can't be very far away. The slow stochastic has a positive slope which might imply that the break could be beyond the 107.60.

USD/CHF

The bullish momentum is slowing down and the pair now consolidates around 1.1020. The daily chart is giving mixed signals, and the tight Bollinger bands and the doji formation are implying an upcoming strong move. The direction of the move is still vague, and traders are advised to hold for the break and swing into it.

Daily Technical News - Feb 12, 2008

EUR/USD

The pair is in the middle of a corrective move which seems to have some more steam in it. The slow stochastic and RSI are floating around 50 in the 4 hour chart. The break beyond the 1.4500 was validated which indicates that the next target price might be 1.4590.

GBP/USD

The daily chart indicates on a strong bullish reversal after a very long and consistent downtrend. The bullish cross on the daily slow stochastic together with positive slope of the 4 hour chart, indicates that the cable might be testing 1.9700 quite shortly.

USD/JPY

The pair marked more than a month of a very tight range trading with no significant breaks. The Bollinger bands are tightening on the daily chart which indicates that a break is quite imminent. The positive slope on the daily slow stochastic indicates that the break might very much occur on the bullish side, with a target price of 108.50.

USD/CHF

The corrective move which was initiated in 1.0760 is losing momentum. The 4 hour chart is showing that there is little room left for the move, and the daily chart is showing its first signs of a reversal. A preferred strategy might be to wait for a clear bearish signal before entering the market.

Daily Technical News - Feb 11, 2008

EUR/USD

An ascending triangle structure is forming on the daily chart which implies a bullish comeback with a first target price of 1.4623. The ascending triangle may offer even more significance as the top barrier is located at 1.4878 and the Slow Stochastic was crossed at 12, indicating that there is more room for the bullish trend.

GBP/USD

The daily chart is bullish as the Slow Stochastic crossed at 10 and the RSI shows a positive slope. The next resistance level is located at 1.9568, and the next support level is at flat 1.9400. If the cable drops sharply beyond that level, a strong bearish move might be in place.

USD/JPY

The trendless tight range the pair has been going through continues with no hint of a distinct direction. The 4 hour chart is indicating that locally the move within the channel is bearish. Traders must wait for a significant break on any side in order to swing back in.

USD/CHF

The 4 hour chart is showing a classic reversal formation in the form of an upwards channel. The channel is supported by a cross in the slow stochastic which indicates that the bullish move might be quite imminent. Going long appears to be the right move today.

Daily Technical News - Feb 7, 2008

EUR/USD

The pair is trading in a range for the past three days showing after the previous sharp bearish correction and is now consolidating around 1.4620. The 4 hour chart is showing first buds of a bullish momentum whereas the daily chart is still bearish. Selling on high might be preferable today.

GBP/USD

The 4 hour chart is showing that the bearish momentum is regaining strength. The slow stochastic indicates that this trend might continue until the cable reaches the 1.9520 level. The daily studies confirm the bearish notion, and it appears preferable to go short today.

USD/JPY

The ongoing tight range continues without a break of any significant importance. The daily chart is maintaining a slightly bearish indication yet with no distinct conclusion. The Bollinger Bands are tightening which indicates that the break might be imminent. Traders are advised to hold for the break and then swing into it.

USD/CHF

Due to high momentum, it looks as though the bullish correction will continue. The RSI and slow stochastic of the 4 hour chart are showing a floating status which strengthens the notion that the bullish move might continue. The current target price is around 1.1040.

Daily Technical News - Feb 6, 2008

EUR/USD

The pair dropped more than 200 pips since the beginning of the week, and it looks as if the corrective move might continue. The 4 hour chart shows a bullish cross that might slow down the downtrend locally, yet the daily chart confirms that the bearish move is valid. Next target price might be 1.4580.

GBP/USD

The cable dropped massively in the last 48 hours yet failed to breach the 1.9600 level. The 4 hour slow stochastic indicates a moderate bullish momentum, however the daily studies show distinct bearish notion. Selling on highs might be wise today.

USD/JPY

The pair has traded in a tight range for a while with no distinct direction. The Bollinger Bands are getting tighter, and the 4 hour Slow Stochastic is showing a bullish cross. Oscillators strengthen the notion that if a sharp break will occur, it will most likely be bullish. Forex traders are advised to wait for the break and swing with it.

USD/CHF

After spiking through the 1.0750 level without a significant breach, the pair is in the middle of a correction that appears to have some more steam in it. The slow stochastic and RSI of the 4 hour chart show that a reversal cross is not due today, which means that the bullish momentum might continue.

Daily Technical News - Feb 5, 2008

EUR/USD

After a relatively choppy session overnight the pair now consolidates around 1.4820. The momentum on the 4 hour chart is mixed with a slight bullish tendency, as the daily chart indicates a stronger bullish momentum. It is advised to wait for a break above 1.4830 before initiating a long position.

GBP/USD

The cable bottomed at 1.9350 and since, is showing bullish momentum that appears to be continuing with little interruption. The hourlies are moderately bullish, and the daily chart is showing that a bullish break might be imminent. Going long appears to be the right choice today.

USD/JPY

The pair is still floating in a range with no distinct direction or momentum. The hourlies are floating in neutral territory and the daily slow stochastic is showing a slightly bullish momentum. Forex traders are advised to wait for a clear signal before entering in any direction.

USD/CHF

The pair has started to accumulate bullish momentum as the 1.0900 level was breached. The 4 hour slow stochastic is showing a growing bullish momentum as the daily chart supports the bullish notion. A breach through 1.0940 will validate this move and might take the pair back to the 1.1000 levels again.