USD Looks to Continue Bullish Trend Ahead of Full Day of Data.

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Technical News

EUR/USD

The pair is in the middle of a bearish trend as the attempts to breach through the 1.4620 support level continue. The daily chart's Slow Stochastic indicates that the bearish momentum is still strong and a breach is very likely. Going short appears to be preferable.

GBP/USD

The cable is testing the key Fibonacci level of 1.8400 and is the middle of a very strong bearish trend. A breach through that level will validate a much stronger bearish trend that might take the pair to the 1.8350 zone. Going short might be the right path today.

USD/JPY

The bullish channel continues at full steam, as the 4 hour chart is showing that there is still much steam in the trend. The daily chart is showing a double doji formation with a bearish cross on the slow stochastic which might indicate a moderate corrective move before the bullish trend resumes. Buying on dips might be a great strategy for that pair.

USD/CHF

The bullish trend continues at full steam as the pair shows no immediate signs of a halt. The 4 hour Slow Stochastic is showing a positive slope and the RSI is floating at 50 which points at additional bullish momentum. There seems to be no upcoming correction on the local level, and going long looks like the right decision today.

Source: FOREXYARD