« BT Group net profit drops 30%, revenue up 1%
The Greenback Continues to Sail Quiet Waters »

Forex Technical Analysis

EUR/USD
The pair is trading in a range for the past three days showing after the sharp bearish correction and is now consolidating around 1.4620. The 4 hour chart is showing first buds of a bullish momentum whereas the daily chart is still bearish. Selling on high might be preferable today.
GBP/USD
The 4 hour chart is showing that the bearish momentum is regaining strength. The slow stochastic indicates that this trend might continue until the cable reaches the 1.9520 level. The daily studies confirm the bearish notion, and it appears preferable to go short today.
USD/JPY
The ongoing tight range continues still without a break of any significant importance. The daily chart is maintaining a slightly bearish indication yet with no distinct conclusion. The Bollinger banks are tightening which indicates that the break might be imminent. Traders are advised to hold for the break and than swing into it.
USD/CHF
The bullish correction move continues as […]

Original post by Forextvblog

This entry was posted on Thursday, February 7th, 2008 at 2:26 am and is filed under Technical Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply