Technical News
EUR/USD
The bearish momentum continues with full steam, and yesterday this pair breached the 1.4000 level. The 4 hour chart shows that the pair is still floating beneath the Bollinger Bands, indicating the continuation of the bearish move. Going short may be a good strategy.
GBP/USD
The bearish price movement continues full steam ahead within the bearish channel which still has yet to be breached. The daily chart is showing a strong bearish cross, and the 4 hour chart is also joining to that notion with the Slow Stochastic pointing to the continuation of the bearish movement. Next testing point should be around 1.7400. Going short appears to be preferable today.
USD/JPY
Narrow range trading continues as the pair did not make any significant move in either direction. The daily chart is showing signs of a bearish momentum. The Bollinger Bands are tightening and a breach might be imminent to any side. A good strategy might be to wait for the signal and ride the momentum.
USD/CHF
The sharp bullish channel on the 4 hour chart continues with no signs of a stop. The Slow Stochastic is showing a triple top formation with a positive slope, which indicates the possible continuation of the trend. Going long appears to be the right move today
Thursday 11 September 2008
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