Full Day of Fundamental Data Looks to Provide Volatility

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Technical News

EUR/USD

The Slow Stochastic on the 4 hour chart is pointing up. On the hourly chart the Bollinger Bands have narrowed indicating the upcoming volatility. Hourly chart's Slow Stochastic also supports that bullish notion. Going long appears to be preferable today.

GBP/USD

The negative slope on the daily chart's RSI and Slow Stochastic continues. In addition this conception is supported by the 4 hour chart; where the Slow Stochastic seems to reverse to a negative course as well. Going short with tight stops appears to be the preferable strategy.

USD/JPY

After showing a consistent bullish momentum for a while, the daily Slow Stochastic is now showing signals of a falling correction. All indicators on the 4 hour chart also support this bearish notion. Going short with tight stops seems like the right choice today.

USD/CHF

Although the pair is showing a violent and choppy session on many occasions, the daily chart is still floating on very neutral territory with no distinct price direction. The 4 hour chart is slightly hinting on a bullish direction yet it is advised to wait for a strong signal and swing in.

Source: FOREXYARD