Thursday, September 4, 2008
Sept-4- FOREXYARD Daily Forex Analysis
| EUR/USD After touching the low of 1.4383 yesterday, the pair now consolidates around 1.45 level again. On the 4 H chart we notice that the bearish trend is running a head. The volatility is very high and the EUR USD is not in a consolidation stage, especially after the pair has broken the 1.4400 support level. The price should continue to move downwards in a range of 1.4500 to 1.4300. As it seems, the bearish pressure will continue to gather momentum on the EUR/USD also today till the weekend GBP/USD The cable is in a bearish configuration. The volatility has decreased. The pair moves without trend and swings around exponential moving average (EMA 50 and 100). The Bollinger bands have tightened and the 4H chart's Elliott pattern implies a continuation of the bearish pressure. USD/JPY Both the dailies and the hourly sharts indicate that the bearish trend will probably continue which might take this pair to the 107.00 level during the day. Both momentum and RSI are sloping downwards supporting an imminent bearish trend. A short position may keep risk tight at the current levels USD/CHF The pair is floating in a relatively wide range for several days now, as can be seen on the 4 Hour chart. No significant break through the 1.1200 range has occurred, and the hourly chart continues to deliver mixed signals. The daily chart is giving a moderately bullish sentiment with a bit more room to run. Labels: Forex Analysis |
posted by Matbank at 9:44 AM
