Technical News

EUR/USD

The bullishness of the EUR/USD pair seems to have be running out of steam, despite recently hitting the 1.4040 level. The hourly chart's RSI signals that the pair is in overbought territory, and that a bearish reversal is imminent. Going short with tight stops may turn out to pay off today.

GBP/USD

The pair seems to be range trading between the 1.6200 and 1.6610 levels as of late. The hourly chart's RSI and Stochastic Slow indicate that the pair is oversold, and that a correction is likely to happen soon. Entering the cross at an early stage may turn out to be a good strategy, as this week's trading comes to a close.

USD/JPY

The USD/JPY pair is currently on a 3-day winning streak. Most technical data seems to be neutral, and showing no clear signals. However, the hourly chart's RSI and weekly chart's Stochastic Slow indicate that there is additional support that may push the pair up further in the short-term. Going long on this pair may turn out to be a wise choice today.

USD/CHF

The pair has experienced much volatility recently, as it currently trades around the 1.0920 level. The weekly chart's Stochastic Slow signals that the pair will drop in the short-term. However, this is contradicted by the daily chart's RSI and MACD. Entering this pair when the signals are clearer may turn out to be a wise choice in today's trading.

Source: Forexyard Daily Forex Analysis

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