Greek Bailout Prospects Boost Riskier Currencies, Dampen Demand for USD, JPY

Gold:

There is a very distinct bullish channel on the 4-hour chart, as gold is now trading in the middle of it. As the next significant resistant level is located at the $1,192 price, it seems that the bullish trend has more room to go. This might be a good opportunity for forex traders to join a popular trend.

Euro Stages Slight Rebound in Overnight Trading

Gold:

Gold prices rose significantly in the last week and peaked at $1065.10 for an ounce. And now, the daily chart’s Slow Stochastic is giving bullish signals, indicating that gold prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Stormy Weather Hits Forex Markets

NZD/CHF:

This pair has been in a steady bullish channel for a number of days now with hardly any signs of stopping. However, the daily and hourly charts show the price floating in the over-bought territory of their respective RSIs. A bearish cross on the daily Slow Stochastic has also just formed, indicating that this pair is due for a strong downward movement giving forex traders a great opportunity to call the reversal and ride out the downward wave for some hefty profits.

Euro Consolidates After EU Leader Comments

Dow Jones Industrials:

The Relative Strength Index (RSI) on the 4-hour chart currently shows the Dow Jones in overbought territory. This typically indicates that a downward correction is imminent. The Stochastic Slow on the daily chart currently shows a cross above the upper resistance line, which lends support to the theory that a bearish trend may occur in the near future. CFD traders are advised to go short with tight stops today.

Interest Rates Announcements Expected From Both U.S. And Japan This Week

USD/MXN:

Some upward correction may be seen for the pair today as the hourly and 2 hour RSI is floating in the oversold territory and a bullish cross is seen on the 2 hour, 4 hour and 8 hour charts’ Slow Stochastic. Forex traders may be advised to go long for the day.

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