Dollar Advances on Speculation of Euro-Zone Turmoil.

Economic News

USD

USD Reacts to Paulson & Plossers' Speech.

EUR

Volatile Trading Leads to Major Sell-off for the EUR.

JPY

Will The Japanese Trade Balance Data Help JPY to Rise?

Crude Oil

Crude Fall As Storm Risk Subsides.

Technical News

EUR/USD

After a sharp drop yesterday, the range trading continues, as the pair floats aimlessly on the hourly and the 4 hour chart. The oscillators are still floating in neutral territory with no distinct direction signal. There seems to be moderate bullish momentum on the hourlies, yet forex traders are advised to wait for a clearer signal before entering the market on this one

GBP/USD

Despite yesterday's sharp drop, the bullish channel on the daily chart is still intact. According to a 4 hour chart, the pair is oversold; therefore a fresh bullish momentum may be quite imminent on the 4 hour chart as well. Going long with tight limits might be a preferable strategy today.

USD/JPY

The pair is still in a bullish configuration and is now floating around 107.30. The momentum on the 4 hour chart is very strong and it appears that there might be a testing of the Fibonacci level of 108.00. The Bollinger Bands are tightened on the 4 hour chart implying that volatility will increase during the day; meaning that traders may have a good opportunity to make profits during today's trading session.

USD/CHF

There are very strong bullish signals on both the hourlies and the daily charts. The RSI and Momentum are positively sloped. This pair is trending upwards and there are no imminent indications of a reversal. Therefore traders can maximize profits by entering steady long positions

Source: FOREXYARD