U.s. Non-farm Employment Change Data To Dominate Usd Trading - Forex Forum

Technical News

EUR/USD
The pair has been range trading between the $1.4100-1.4350 level in the past few days. The daily chart's Slow Stochastic and RSI signal that the pair is set to go on a downward trend today. Going short with tight stops may turn out to be a decent strategy today.


GBP/USD
The 4-hour and 1-day chart's Bollinger Bands show that the pair is gradually losing steam. This is also supported by the daily chart's RSI and Slow Stochastic. Going short with tight stops seems to be the preferable strategy.


USD/JPY
The daily chart and the 4-hour MACD Oscillator points to a continuation of the bullish trend that there pair has experienced in the past 2 days. If this trend does indeed continue, then we may see the USD/JPY rate reach 97.50 by the end of the week. Entering the popular trend now may turn out to be a wise choice.


USD/CHF
Today's charts seem to be showing mixed signals. The daily chart's MACD signals that there is still some bearishness left in the pair, before bullishness takes hold. However, the hourly chart's MACD and daily chart's Slow Stochastic indicates that there is likely to be much bullish momentum in the pair today. Entering the pair when the signals are clearer may be a preferable strategy.


The Wild Card

EUR/GBP
The pair rose significantly in the past several days, and has peaked at 0.8836. However, the hourly chart's MACD seems to be floating in an overbought territory. This suggests that the recent upward trend is losing steam, and a bearish correction is pending. This may be a good opportunity for forex traders to enter the trend at a very early stage.