Dollar and Yen Rising on Market Uncertainty and Slowing Growth

Oil:

Crude oil prices have dropped significantly in the last 3 weeks with a low at $72.75 per barrel. However, on the daily chart the RSI is floating in oversold territory which suggests that a bullish correction is impending. This might be a great opportunity for forex traders to enter the trend at a very early stage.

Dollar and Yen Strengthen As a New Trading Week Begins

Gold:

Gold prices have been increasing rapidly lately, as they stand at over $1229per ounce. The 1-day and 1-week chart shows that this bullish trend is set to continue. This is also supported by the 1-hour and 4-hour MACD oscillator. It may be a wise move for forex traders to enter this very popular trend.

Weak U.S Economic Data Pushes U.S Dollar Higher versus Counterparts

Crude Oil:

After the significant drop in oil prices yesterday, we see some strong signs of corrective pressure. The daily chart’s RSI has the pair floating in the over-sold territory, and the Stochastic (slow) appears to show an already-elapsed bullish cross which has turned upward into neutral territory. The momentum appears to favor that forex traders go long and take hold of this swing while the upward momentum holds.

EUR/USD Continues To Fall in Overnight Trading

AUD/CHF:

This unique pair appears to be providing early indications of a solid upward movement. It may still be too early to call, but indicators on this pair are just entering the over-sold territory, and a recent bullish cross on the 4-hour Stochastic (slow) highlights the potential for an upward movement. Forex traders have a chance to take a gamble and bet on the continuation of the Aussie’s recent strength, with an upward target near 0.9600.

Euro Gains on Successful Spanish and Irish Debt Auctions

GBP/CAD:

The RSI for the pair is floating in the oversold territory on the 2 hour and 8 hour charts while a bullish cross is evident on the 4 hour chart’s Slow Stochastic. Furthermore, a breach of the lower Bollinger Band is evident on the 8 hour chart. Forex traders may be advised to go long for the day.

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