Will The USD Continuse Its Bearish Voyage Today?

Economic News

USD

Weakest day for the USD in five days

EUR

Traders' dilemma, is the EUR headed for a slowdown in growth or a full recession?

JPY

Traders retreat to the JPY for risk aversion following the USD's bearishness

Oil

The Russian-NATO tensions spark a jump in Crude Oil prices

Technical News

EUR/USD

The Slow Stochastic and the RSI on the daily chart are showing a continuation of the current bullish correction. there is a very accurate bullish channel forming on the 4 hour chart. In addition all indicators on the hourly chart are pointing up. Going long might be the right choice today.

GBP/USD

After the recent bearish trend, the cable consolidated at the 1.870 level. However, a bullish momentum on the daily chart's Slow Stochastic suggests the resumption of the general bullish correction. The Slow Stochastic on the hourly chart is forming a bullish cross, indicating that the bullish move is impending. Going long might be the right choice today.

USD/JPY

The sharp bearish move that took place during the past couple of days seems to have more steam in it. The RSI on the daily chart has crossed the 50 line, suggesting that the pair should fall further. The bearish move on the daily's Slow Stochastic also supports this notion. Next target could be 108.50

USD/CHF

The daily chart shows that the pair has been range-trading this week. However, a bullish cross on the 4 hour chart's Slow Stochastic, suggests that a bullish move is imminent. Going long with tight stops appears to be preferable.

Source: FOREXYARD