U.S Non-Farm Payrolls Week Begins

Crude Oil:

The RSI on the 1-hour chart indicates that crude is poised to enter a bearish trend. This is supported by the Stochastic Slow on the 4 hour chart. Forex traders may want to go short with tight stops today, as prices may fall.

The U.S Dollar Rises Amid Dubai Debt Concerns.

Crude Oil:

Oil prices are once again dropping, and a barrel of oil is currently traded at around $75.25. Now the RSI on the 4-hour chart are giving bullish signals, indicating that oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Rally in Equities Pushes Investors to Riskier Assets

Gold:

With gold recording strong bullish movements in recent days, the technical analysis indicates that this may soon be corrected. The RSI on the daily chart indicates that the commodity has been overbought for some time, indicating that a bearish reversal may be imminent. Forex traders may want to go short today.

Dollar Sentiment Down on Recovery Concerns

NZD/JPY:

The pair is in the middle of a strong bearish move ever since it dropped below 64.80, and is now traded at 64.25. The pair continues its nonstop downward journey overlooking every possible support level and shows no sign of a stop. All oscillators on the daily chart are still bearish and the trend appears to have more room to run. Forex traders should note that being short on the pair appears to be a wise move for the day.

Dollar Tumbles After Big Day on Wall Street

Gold:

Gold prices rose significantly in the last week and peaked at $1165.45 for an ounce. However, the daily chart’s RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

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