Dollar Falls to a 5-Month Low

AUD/USD:

This pair’s sustained upward movement has finally pushed its price into overbought territory on the 8-hour chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic indicating an imminent downward correction. 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.

USD Tumbles Against Rivals Following Disappointing News

Dow Jones Industrials ‎:

After making some fairly significant gains yesterday, technical indicators are showing ‎that the Dow Jones may be due for a downward correction. The Stochastic Slow on ‎the 4-hour chart is close to forming a bearish cross, while the Williams Percent Range ‎on the 8-hour chart is well into overbought territory. CFD traders may want to go ‎short in their positions today. ‎

Euro Zone Eerily Silent amid BOJ and Fed Monetary Moves

Gold:

The price of Gold has been climbing rapidly these past few weeks, but technical indicators unanimously agree that this precious metal is highly over-bought and over-prices at the moment. Recent bearish crosses on the daily and weekly Stochastic (slow) and MACD all suggest that there is downward pressure building atop this commodity. The price has also entered the over-bought region of the weekly chart’s RSI. Forex traders have a chance to enter a downward correction to a highly over-bought commodity by going short on this metal now, and at a great entry price.

Will The Bank of Japan Take Further Action to Halt Yen’s Bullishness?

Gold:

After failing to reach $1,300 an ounce on Friday, gold appears to be on its way to cross that level today. Currently, a bullish cross on the daily chart’s MACD indicates that gold still has plenty of upward momentum. If the metal will cross the $1,300 level it will mark a new all-time record. Analysts are not forecasting a downward correction in the near future. This may be a great opportunity for forex traders to join a very popular trend.

EUR to Benefit from American and Japanese Bank Moves?

CHF/JPY:

The movements of this pair seem to suggest that the price has reached a recent high which is unsupported. The 4-hour, daily and weekly RSI show the price as over-bought, while the daily Stochastic (slow) and MACD have impending bearish crosses. Forex traders may want to evaluate their positions on this pair, especially since it appears that a bearish correction may be imminent. Going short on this pair could turn out to be an excellent gamble before the weekend’s close.

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