Dollar Gains from Greece Rescue Plan

AUD/USD:

A few months back this pair’s long-term bullish channel was breached and the pair now appears to be forming a double-top (or “M”) candlestick formation on the weekly chart. The weekly RSI shows the price cascading downward, highlighting plenty of downward momentum. The 4-hour RSI shows the pair in the over-bought territory, and the 4-hour Stochastic (slow) shows a fresh bearish cross. All suggesting that this pair is due for bearishness. Forex traders have a rare opportunity to spot this “M” formation at its second peak and ride out a tremendous wave for potentially large profits.

Euro Levels Out Against Major Rivals Ahead of EU Summit

Crude Oil:

Short- and mid-term indicators on Crude Oil seem to be giving off bearish signals this morning. Both the hourly and 4-hour Stochastic (slow) appear to be showing a bearish cross. The RSI on both charts also appears to be floating in the over-bought territory. These indications may give forex traders a chance to capture a healthy dose of profits in today’s early trading hours by going short on this commodity.

Market Awaits Bernanke’s Testimony on Future Monetary Policy

AUD/USD:

The pair has recorded a bullish behavior yesterday. However, the technical data indicates that this trend may reverse anytime soon. For example, the 4- hour chart’s Slow Stochastic shows signals that a bearish reversal is imminent. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.

Euro-Zone Debt Concerns Weigh Heavily on EUR

USD/DKK:

The daily chart’s Slow Stochastic is exhibiting a bearish cross while the 8 hour and daily RSI are floating in the overbought territory indicating an imminent downward trend. Forex traders are advised to go short for the day.

Dollar Rises to 8-month high on U.S. Non-Farms Report and European Worries

Crude Oil :

Crude oil prices are once again dropping, and it is currently traded around $71.40 per barrel. And now, the 4-hour chart’s RSI is giving bullish signals, indicating that crude oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

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