Skip to main content

todays technical analysis

EUR/USD

The EUR/USD went increasingly bearish yesterday, and currently stands at the 1.4920 level. The daily chart's Slow Stochastic supports this currency cross to fall further today. However, the 4-hour chart's Stochastic Slow signals that a bullish reversal will take place today. Entering the pair when the signs are clearer seems to be the wise choice today.
GBP/USD

There is a fresh bullish cross forming on the 4-hour chart's Slow Stochastic indicating a bullish correction might take place in the near future. The upward direction on the hourly chart's Momentum Oscillator also supports this notion. Going long with tight stops might be the right strategy today.
USD/JPY

The cross has been dropping significantly for the past week now, as it now stands at the 86.10 level. The RSI of the daily chart is already in the oversold territory, indicating that an upward correction is imminent. This view is also supported by the RSI of the 4-hour chart. Going long with tight stops may turn out to be the right choice today.
USD/CHF

The daily chart is showing mixed signals with its RSI fluctuating in neutral territory. However, there is a fresh bearish cross forming on the 4- hour chart's Slow Stochastic indicating a bearish correction might take place in the near future. When the downward breach occurs, going short with tight stops may be the correct strategy.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

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

Best Stock Market Simulation Games

      Best Stock Market Simulation Games by: scott morris A stock market simulation game is a great way to practice your investment skills before actually investing any "real" money in the stock market. Simulation games are usually played on the internet, where people can experience the thrill of investing in the stock market without any risks, costs or any fear of losing money when and if they make a poor investment decision. Many teachers and professors of banking and finance are now using stock market simulation games to teach their students about the rudiments of investing in stocks. Most stock market simulation games come with a fee to get started, but there are some that are free of any charge. One does not need have prior knowledge about the stock market to join. This is how stock market simulation games usually work: First, players must register. After registration, players are given an initial sum of "virtual" money to invest in c...
Post a Comment
Read more