Thursday, August 14, 2008
14-Aug-2008 - Daily Forex Analysis
| EUR/USD The pair has consolidated around the 1.4900 level for the past few days without making any significant breach. However, the Bollinger Bands on the 4 hour chart are tightening, indicating that a sharp price movement is imminent. Waiting for the breach and swing might be a good strategy today. GBP/USD The pair is continuing its bearish momentum with full steam, as the cable breached through the 1.8650 level. The daily chart shows that the pair has descended beneath the Bollinger Bands border, suggesting that the falling trend might extend. Going short might be preferable. USD/JPY There is a very accurate bullish channel forming on the daily chart, as the pair is now floating in the middle of it. All oscillators on the 4 hour chart are pointing up, and next price target might be 110.00. USD/CHF The rising trend seems to be halting in the last couple of days, as the pair consolidated around the 1.0850 level. As the Bollinger Bands on the 4 hour chart are tightening, a strong price move might take place. Should the pair breach through the 1.0910 level, a sharp bullish momentum could be launched. Labels: Forex Analysis |
posted by Matbank at 1:22 PM
