Wednesday, September 10, 2008
10-Sept - Daily Forex Analysis
| By: Forexyard Technical News EUR/USD For the past couple of days the pair has consolidated near the 1.4150 level. However, a bearish cross on the 4 hour chart's Slow Stochastic suggests that the pair should resume its bearish trend. Going short with tight stops seems to be preferable. GBP/USD The 4 hour chart shows that the cable's bearish momentum was temporarily halted. Nevertheless, as all oscillators on the 4 hour chart are pointing down, it appears that going short might be the right choice today. USD/JPY The pair has been going through choppy sessions with no distinct direction for a few weeks now. However, a bullish cross on the 4 hour chart's Slow Stochastic indicates that the pair is on the verge of a bullish movement. Going long seems to be the right strategy today. USD/CHF The pair continues to be traded in relatively tight range, and no distinct direction is being observed on the hourly and 4 hour chart's studies. The pair might continue to linger in neutral territory until a clearer signal will be formed. It is advised to stay out of this one until the smoke of uncertainty clears. The Wild Card EUR/AUD The pair has recently peaked at the 1.7660 level and been dropping ever since. As all oscillators on the 4 hour chart are giving bearish signals, it seems that the pair will extend its bearish move. This might be a great opportunity for forex traders to join a very promising trend. Labels: forex, Forex Analysis, FX Instructor |
posted by Matbank at 10:12 AM
