Euro-Zone Bank Stress Test Results Expected Today

Crude Oil:

Crude Oil prices rose significantly yesterday and peaked at $79.20 per barrel. However, there is a bearish cross on the 4-hour chart’s Slow Stochastic suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

EUR and GBP Tumble Following Bernanke Speech

Oil:

Yesterday’s sharp drop in price may have made for a good entry opportunity to go long on spot crude oil. The price closed at $76.35, near the 38.2% Fibonacci retracement level from the previous bearish trend. A breach back above this price could give CFD traders an opportunity to enter long with a target at the resistance level of $78.10.

EUR Higher from Risk Appetite ahead of Stress Test Results

Silver:

Silver prices are once again dropping, and it is currently traded around $17.60 an ounce. And now, the 8-hour chart’s RSI is giving bullish signals, indicating that silver prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Dollar and Euro Strengthen Despite Negative News

EUR/AUD:

Several technical indicators are showing that this pair is due for a downward correction in the near future. The Relative Strength Index on the 8-hour chart shows the pair in overbought territory. The Stochastic Slow on the daily chart shows a bullish cross has formed. For forex traders going short with tight stops today may be the preferred strategy for this pair.

Dollar Declines to 2010 Low Against Yen

Hang Seng Index:

The Slow Stochastic on the 8-hour chart shows a bearish cross forming, indicating that upward movement could occur in the near future. The Relative Strength Index on the 4-hour chart supports this theory. CFD traders are advised to go long with tight stops today.

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