EUR/USD
There is a very interesting bearish channel forming on the 4 hour chart as the pair now moves down within the channel. The Slow Stochastic is showing a strong bearish cross, as the RSI confirms. It appears that the pair is heading 1.5310 and going short might be a preferable strategy today.
GBP/USD
The cable is floating at eh bottom section of the bearish channel on the daily chart. The Slow Stochastic has a bullish cross forming which indicates an upcoming potential reversal move. Going long with very tight stops might be the ... ( read more )
Posts Tagged with ‘currency trading’
May 9, 2008 - US Trade Balace on Tap
Yesterday, the greenback lost its newly acquired bullish momentum and returned to the 1.54 range against the EUR. Unemployment claims in the U.S. this month beat out the forecast of 370K and were measured at 365K, 18K less than March. The USD was on a bearish momentum against most of its currency rivals throughout the trading day, and while it would seem like the positive Unemployment Claims would raise the USD's value, the USD dropped even further after the figure was announced. Monthly Wholesale Inventories also beat our forecasts and a -0.1%... ( read more )
