Dollar Skyrockets after Federal Reserve Increases Discount Rate

GBP/AUD:

The 2 hour, 4 hour, 8 hour and daily RSI are floating in the oversold territory with a bullish cross evident on the daily and 4 hour charts’ Slow Stochastic indicating an imminent upward movement. Forex traders may be advised to go long for the day.

Unemployment Claims in Focus Today

Gold:

Gold prices are in the midst of a very strong downtrend, and an ounce of gold is currently traded for about $1100. The hourly chart shows that the current price has dropped beneath the Bollinger Bands’ lower border, indicating that the bearish move is still quite strong. This might be a good opportunity for forex traders to join a very popular trend.

Easing Concerns over Greece’s Debt Boost the EUR

AUD/USD:

On the daily chart the moderate bullish price movement continues within the upwards channel which still has yet to be breached. The 4-hour chart is also joining that notion with the Slow Stochastic pointing to the continuation of upwards momentum. The next testing point should be around 0.9090 . Forex traders have a good opportunity to enter what appears to be the beginning of a steady rising trend.

EUR/USD Trading Near a 9-Month Low

EUR/JPY:

A period of consolidation has left the pair tight against the daily chart’s downward sloping trend line that began on January 14th. The 7-day daily chart shows the pair has hit a significant resistance level for the fourth time. The previous occurrences were followed by a sharp drop in the price. This may give forex traders an opportunity to go short on this pair.

Greece Worries Continue to Impact Euro

GBP/AUD:

A fresh bullish cross is evident on the 8 hour chart’s Slow Stochastic, while the daily and 8 hour RSI are floating in the oversold territory. Forex traders may be advised to go long for today.

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