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Today's Technical Analysis

Technical Analysis
EUR/USD
The Bollinger Bands are widened indicating increased volatility. This pair has been on a sharp upward trend over this week, but now indicators on the 4 H chart are beginning to give a bearish signal. However the daily chart is flat so there is a possibility of further bullish momentum today.

GBP/USD
On the 4 H chart we can see that this pair is near the top of horizontal channel. The Stochastic Slow is crossing above 80 and is a strong indication that we are in deep overbought territory and that a reversal may be imminent. Also RSI and Momentum are negatively, indicating further bearish movement.

USD/JPY
This pair fell sharply yesterday breaching the key 105.00 resistance level. The hourlies and daily charts are still giving a strong bearish signal. The next target price will be to breach 104.00 mark.

USD/CHF
This pair has been in a steady downward channel over the last few weeks. However this pair has made a sharp downward breakout this week, indicating that it will now target new lows. Going short will still be the preferred strategy today.
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