U.S Consumer Sentiment on Tap.

Economic News

USD

Dollar Hits 5 Month Highs Vs. EUR - Looks To Continue Trend Today.

EUR

Europe's Economy Contracts Pushing The Currency Towards 1.45

JPY

The Yen Looks to Continue Gains within Its Crosses.

Oil

Oil Prices See Small Drop in Response to Crippling Demand in Black Gold.

Technical News

EUR/USD

The pair continued its bearish voyage yesterday as it dropped close to 200 pips. The 4 hour chart shows that the pair's price has descended beneath the Bollinger Bands border, suggesting that another bearish move is impending. Going short seems to be preferable.

GBP/USD

There is a very accurate bearish channel forming on the daily chart, as the cable is now floating in its lower section. All oscillators on the daily chart are floating within bearish territories, implying that the falling trend might further continue. Going short could be the right choice today.

USD/JPY

The pair's bullish momentum continues with full steam, as it crossed the 110.20 level yesterday, and seems ready to test the 110.70 level. Should a breach occur, another bullish move might take place.

USD/CHF

The pair's bullish sprint has passed it through the 1.0970 level yesterday. As all oscillators on the 4 hour chart are pointing up, the pair might test the 1.1100 level - making a 6 month record.

Source: FOREXYARD