The USD is on the Crossroads of Financial Development.

Economic News

USD

Today's Durable Goods Orders Will Clarify USD Prospects.

EUR

Expect Another Volatile Session as No European News is Expected.

JPY

Japan Following European Markets With Great Concern.

Crude Oil

Oil is Up on Storm Factor.

Technical News

EUR/USD

Similarly to what is happening all across the board, the USD bullishness did not skip this pair as well. It appears that the local EUR/USD bearish momentum might be taking the pair to 1.4500 level. There are several bullish signals on the hourly level, yet it seems that pair is overlooking all technical aspects. Going short appears to be the smartest move today.

GBP/USD

A bearish formation on the daily chart is still intact; however the momentum is already quite low. The 4 hour chart is maintaining a slightly bearish indication yet with no distinct conclusion. The Bollinger Bands are tightening which indicates that the break might be imminent. Traders are advised to hold for the break and then swing into it.

USD/JPY

The bullish trend is loosing its steam and the pair seems to consolidate around the 109.20 level. It appears that the bullish breach above the range was not validated, and that range trading might be the name of the game. Taking short term selling positions might be the right move today.

USD/CHF

The bullish channel continues with strong momentum as the pair now floats around 1.0980. The slow stochastic on the hourly chart is floating around 50 which indicates that the bearish signal is in place. The RSI is forming back into bullish formation and supports the general notion. Next target price might be 1.150.

Source: FOREXYARD