Dollar Declines to 5-Month Low Against the EUR
September 23, 2010 by ForexYard
Filed under Daily Forex Analysis
AUD/CAD:
After a long bullish run, some correction may be in store for the pair. A bearish cross is evident on the daily chart’s Slow Stochastic with the RSI for the pair floating in the overbought territory on the 4 hour, 8 hour and daily charts. Moreover, a breach of the upper Bollinger Band can be seen on the daily chart, indicating an imminent downward move. Forex traders are advised to go short for the day.
USD/JPY Declines Below 85 yen
September 22, 2010 by ForexYard
Filed under Daily Forex Analysis
Silver:
Technical indicators on the daily chart including the Stochastic Slow and Relative Strength Index show that silver is currently in overbought territory. The Williams Percent Range on the 8-hour chart confirms this theory. Forex traders may want to go short with tight stops today, as a downward correction is likely to occur.
Markets Cautious Ahead of FOMC Meeting Statements
September 21, 2010 by ForexYard
Filed under Daily Forex Analysis
Gold:
Gold prices rose significantly in the last week and peaked at $1283 an ounce. However, the daily charts’ RSI is floating in an overbought territory 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.
Will The Yen’s Bearish Momentum Continue?
September 20, 2010 by ForexYard
Filed under Daily Forex Analysis
Silver:
After last week’s spike in silver prices, the commodity may have finally reached overbought territory. The Williams Percent Range on the daily chart is around the -5 level, while the Relative Strength Index on the same chart has been trading above the upper resistance line for some time. Forex traders may want to go short in their positions today, as a bearish correction is likely.
US Economic Recovery Not So Bleak, Data Shows
September 17, 2010 by ForexYard
Filed under Daily Forex Analysis
Gold:
Gold prices rose significantly in the last week and peaked at $1279 for an ounce. However, the 8-hour chart’s RSI is floating in an overbought territory 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.
