Wednesday, September 10, 2008
9-Sept - Daily Forex Analysis
| By: ForexYard Technical News EUR/USD The pair is continuing its downtrend with full steam, and is now traded around the 1.4080 level. As the current price on the daily chart has dropped beneath the Bollinger Bands' lower boarder, another bearish session could take place. Going short might be a good strategy today. GBP/USD The cable has resumed its bearish trend and is attempting to breach the 1.7500 level. Should the breach will take place, the pair might extend its bearish run, with a potential price target of 1.7430. USD/JPY The pair is continuing to provide mixed results, without making a significant breach. As all oscillators on the 4 hour chart are pointing down, it seems that the pair could face another bearish session. Going short with tight stops might be the right choice today. USD/CHF The pair is extending its bullish momentum, and is now traded around the 1.1320 level. The Bollinger Bands on the daily chart are tightening, suggesting that another sharp bullish move might take place. Going long seems to be preferable. The Wild Card Crude Oil Oil prices are once again dropping, and a barrel of oil is currently traded around $105. And now, all oscillators on the daily chart are giving bearish signals, indicating that oil prices might further drop. This might give forex traders a great opportunity to enter a very popular trend. Labels: Forex Analysis |
posted by Matbank at 12:43 AM
