Economic News Weekly Archive
Daily Technical News - Apr 16, 2008
EUR/USD
The pair has been range trading with high volatility for a while now, and it appears that the bullish price movement might be back. The Slow Stochastic of the 4 hour chart indicates an upcoming test of the 1.5895 level. If that level is breached, swinging in the trend would be the best strategy.
GBP/USD
The bearish flag pattern still remains intact on the daily chart, as the cable now makes a local correction. If the 1.9720 level is not breached we should expect the bearish trend to continue back to the bottom barrier of the flag. Selling on highs might be a good choice today.
USD/JPY
The pair has been showing stable bullish movement since the end of March with very few corrective anomalies. The Slow Stochastic of the 4 hour chart is showing a triple top formation with a positive slope, which indicates that the price movement might still be bullish, but is approaching its final stage. Going long with very tight stops might be a good strategy today.
USD/CHF
The daily chart is showing that the pair still does not have a distinct direction, as the chart appears to be quite horizontal for the past month. The Bollinger Bands are very tight, and the 4 hour Slow Stochastic is showing a bearish cross. It appears that the possible next move might be a bearish one. In that case traders are advised to swing in after the break.Daily Technical News - Apr 15, 2008
EUR/USD
The pair has been going through choppy sessions with no distinct direction for the past seven trading days. Several attempts to breach through the 1.5900 level failed, and the pair is consolidating around 1.5830. The 4 hour chart is showing signals of local bullish momentum, as the Slow Stochastic have a positive slope. Going long with tight stops could be a good strategy today.
GBP/USD
The bearish flag formation on the daily chart is still valid, as no major breaches occurred. The momentum is still very bearish as pointed by the daily RSI. Forex traders should wait for an additional break through the 1.9600 level to validate the next sharp bearish move.
USD/JPY
After bottoming at 100.00, the pair now shows a relatively volatile price movement with moderate bullish momentum. The daily chart is showing a double doji formation with very tight Bollinger bands which indicate an upcoming break. Traders are advised to wait for the move and swing.
USD/CHF
The pair has been range trading for a while now, as no clear trend direction is in sight. The daily chart is showing mixed signals and the 4 hour chart is showing moderate bearish movement. Traders are advised to stay out of that one today.Daily Technical News - Apr 14, 2008
EUR/USD
After a very sharp drop at the opening session which took the pair on a dip of 150 pips, there is a certain consolidation around 1.5720. The daily chart is showing renewed bullish momentum, and the hourlies support. It appears that going long might be the better choice today.
GBP/USD
There is a narrowing bearish channel forming on the daily chart, as the cable now floats in the middle of it. The slow stochastic shows a negative slope and indicate a possible continuation of the bearish trend. If the cable will breach the 1.9680 level, we should be expecting a very sharp bearish drop to follow the breach.
USD/JPY
The momentum which was created after the pair breached through the very accurate bullish channel continues with full steam. All oscillators are showing very bearish momentum and it appears that the pair might have a target price of 100.00 on this move.
USD/CHF
The range trading continues without a distinct breaking direction. The daily chart is giving mixed signals and is mostly floating in neutral territory. The hourlies are showing moderate bearish momentum. It appears that going short with very tight stops might be a good decision today.Daily Technical News - Apr 11, 2008
