Dollar Rises Broadly vs. Majors

GBP/NZD:

A breach of the upper Bollinger Band is evident on the 2 hour and 4 hour charts while the RSI is floating in the oversold territory on the hourly chart. Furthermore, a bearish cross is evident is evident on the 2 hour and daily charts. Forex traders are advised to go short for the day to take advantage of the impending correction.

GBP Still Gaining Against Majors

GBP/NZD:

The pair’s recent bullish run may see some correction today as the hourly and 8 hour RSI are floating in the overbought territory and the daily, 2 hour and hourly charts’ Slow Stochastic are exhibiting bearish crosses. Forex traders may be advised to go short for today.

Dollar Bearishness Halts, Is a Bullish Reversal Impending?

GBP/NZD:

The pair’s hourly, 4 hour and 8 hour RSI are floating near the overbought territory while a bearish cross is evident on the daily and 8 hour charts’ Slow Stochastic. Furthermore, an impending bearish cross is evident on the hourly and 2 hour MACD. Forex traders are advised to go short for the day.

Dollar Remains Low Amid Poor U.S. Economic News

Oil:

The price of crude oil has broken its most recent bullish trend line on the daily chart and has dropped below the 10-day moving average. This could signal an end to the bullish run. The price has also crossed the middle line of the Bollinger Band, signaling the potential for the price to fall to its lower limit. Forex and commodity traders may also notice the bearish cross and the downward sloping histogram on the MACD. This may give traders the reason to short crude oil.

Dollar Stays Lower before U.S Retail Data

AUD/NZD:

The hourly and 2 hour RSI are floating in the overbought territory with the hourly, 2 hour and 4 hour chart’s Slow Stochastic are exhibiting a bearish cross. Furthermore, there is a breach of the upper Bollinger Band on the 2 hour chart. Forex traders are advised to go short for the day.

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