Dollar Extends Gains against the Euro

Crude Oil:

Crude oil prices are once again dropping, and it is currently traded around $75.75 a barrel. And now, the 4-hour chart’s RSI is giving bullish signals, indicating that crude prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

U.S. Consumer Confidence to Set the Level for the USD Today

Nasdaq 100:

The Relative Strength Index on the 8-hour chart indicates that the Nasdaq is trading well in oversold territory. This is typically a sign that an upward correction will occur during the course of the day. This theory is supported by the Stochastic Slow on the daily chart. CFD traders are advised to long with tight stops today.

U.S. Non-Farm Payrolls Week Begins

AUD/NZD:

A breach of the upper Bollinger Band is evident on the 2 hour chart while the RSI for the pair is floating in the overbought territory on the hourly chart, indicating an imminent downward correction. Furthermore a bearish cross is also seen on the hourly and 2 hour charts’ Slow Stochastic. Forex traders may be advised to go short for today.

Dollar Advances on Riskier Currencies Following Fed Statement

SPI 200 (ASX):

After the recent sharp drop a correction may be taking place today as the RSI seems to be floating in the oversold territory on the hourly and 8 hour charts and a bullish cross is evident on the 4 hour chart’s Slow Stochastic. CFD traders may be advised to go long for the day.

Dollar Weakens as Fed Leaves Rates at Record Low

AUD/USD:

This pair’s sustained upward movement has finally pushed its price into the over-bought territory on the daily chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short to ride out the impending wave.

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