Tuesday, September 16, 2008
16-Sep Daily Forex Analysis
| by: Forexyard Technical News EUR/USD There is a distinct bullish channel forming on the hourly chart, as the pair is now floating around the bottom level. The Slow Stochastic on the daily chart suggests the trend will probably continue rising. The breach through the 1.4003 level will validate the next 1.4400 target price. GPB/USD The cable has resumed its bullish trend and is attempting to breach the 1.8000 level. Should the breach take place, the pair might further extend its bullish run, with a potential price target of 1.8020. USD/JPY The pair is continuing its bearish movement with full steam as it breached the 104.00 level. The daily chart shows that the current price has dropped beneath the Bollinger Band's lower border, indicating that the bearish move is gathering more steam. Going short seems to be a preferable choice today. USD/CHF The bearish momentum the pair has shown since the breach of the channel on the daily chart continues. The daily Slow Stochastic is showing the continuation of the trend. It seems that the pair could face another bearish session today. Going short might be the right choice. The Wild Card Oil Oil prices are once again dropping, and a barrel of Crude Oil is currently trading around $92. Now, all oscillators on the daily chart are providing bearish signals, indicating that Crude prices will probably continue its downward slide. This might give forex traders a great opportunity to enter a very popular trend. Labels: ADVFN NewsDesk, forex, Forex Analysis, FX Instructor |
posted by Matbank at 9:13 AM
Hey,
Thanks for your great information. Looking forward to hear more from you.
Forex Trading