Will The USD Finnish Its Bullish Voyage Today?

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Technical News

EUR/USD

It seems that the pair is extending its bullish correction, as it entered an uptrend ever since it tested the 1.4630 level. Currently, all oscillators on the 4 hour chart are pointing up, suggesting further bullish behavior for the pair. Going long might be preferable today.

GBP/USD

The pair has been range-trading for a while now, as the cable appears to consolidate around the 1.8600 level. The Bollinger Bands on the 4 hour chart are tightening, indicating that a significant breach is forthcoming. Traders should wait for that breach and swing.

USD/JPY

After a long period in which the pair has mainly fluctuated, it seems that we are on the verge of a relatively strong move. The pair has crossed the lower border of the 4 hour chart's Bollinger Bands, indicating that it should enter a downtrend. A breach through the 108.60 might validate the bearish move with a price target of 107.80.

USD/CHF

The pair has consolidated around the 1.0950 level, without making any major breach for a while now. As all oscillators on the 4 hour chart are giving bearish signals, it appears that going short with tight stops might be the right strategy today.

Source: FOREXYARD