Skip to main content

Todays Forex Technical Analysis 22 Oct 2008

 
Technical Analysis
EUR/USD

The pair crossed the key psychological level of 1.3000 yesterday, for the first time since August 2007, further demonstrating how strong the current downtrend is. On the daily chart, the pair is still floating beneath the Bollinger Band's lower border, indicating that the pair might extend its bearish move. Going short with tight stops might be the right choice today.
GBP/USD

The Cable is in the middle of a very intensive downtrend that started a week ago and shows great momentum that on a bigger scale appears to have more room to run. Currently, all oscillators on the hourly chart are pointing down and it seems that going short will be the right choice today.
USD/JPY

The pair has been range-trading for a while now, with no specific direction. The Daily chart's Slow Stochastic providing us with mixed signals. All oscillators on the 4 hour chart do not provide a clear direction as well. Waiting for a clearer sign on the hourlies might be a good strategy today.
USD/CHF

This pair is still in the midst of a steady uptrend which is not yet showing any sign of leveling out. The RSI and Momentum on the daily chart are still positively sloped indicating that there is still plenty of steam left in this bullish move. Once this pair breaches the 1.1750 level it's likely to make another sharp break upwards.

kishore

Rediff Shopping

Comments

Post a Comment

Popular posts from this blog

Can equities rally survive EU turmoil?

September 19, 2011 Market Watch Can equities rally survive EU turmoil? Here we are in the premarket with the futures and the EUR/USD pointing south with the Greenback pointing north. The more they greet this news with concern, the quicker it will resolve… Read More Oil watching for demand destruction from Greek debt Global oil markets are falling as the Greece problem continues to weigh on market sentiment. Market odds put a Greek default at 98% and rising… Read More EU debt crisis dominates world markets The ongoing attempt by Germany, France and others to find a way to keep Greece from defaulting on its debt seems to me to be an exercise in futility… Read More Stock market gains suggest bear market rally...
Post a Comment
Read more

Forex Trading Tips And Strategies For The Week of July 15-31, 2023

Here are some forex trading tips and strategies for the week of July 15-31, 2023: Pay attention to economic data. There are a number of important economic releases scheduled for this week, including the US non-farm payrolls report on July 15, the European Central Bank (ECB) monetary policy meeting on July 21, and the US unemployment rate report on July 28. These releases can have a significant impact on currency markets, so it's important to be aware of them and factor them into your trading decisions. Trade with the trend. This is a basic but important trading principle. When the trend is up, look to buy. When the trend is down, look to sell. Trying to trade against the trend is usually a recipe for failure. Use stop losses. Stop losses are a way to limit your losses on a trade. When you place a stop loss, you're essentially telling your broker to sell your position if the price reaches a certain level. This can help you to protect your capital and avoid large losses. Be patie...
Post a Comment
Read more

Swiss Franc Expected to Weaken Further

Retail forex traders remain aggressively net-short the US Dollar (ticker: USDOLLAR) against the Swiss Franc as it presses to fresh highs, and such one-sided sentiment gives contrarian signal that the pair may continue to strengthen. Traders first turned net-short the USDCHF as it crossed above SFr 0.9300 through early May. The same crowds briefly turned net-long USD as the pair fell through mid-June, but they’ve since returned to their bearish position.
Post a Comment
Read more