Even Answers About Forex

Silver:

Silver has seen a dismal week, dropping more than 50 pips, as the commodity now stands at the 13.45 level. However, the daily chart’s oscillators support an impending bullish reversal today. This is also supported by the chart’s 4-hour and weekly Stochastic Slow. Going long with tight stops may turn out to be a good strategy today, as forex traders seek to make some end-of-week profits.

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Crude Oil:

Crude Oil has been hit badly in recent days, and currently stands at $69.20 a barrel. The daily chart’s Stochastic Slow supports a further bearish move for the commodity in today’s trading. This is also supported by the daily chart’s MACD. Going short with tight stops may turn out to be the safe bet for forex traders today.

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EUR/GBP:

The price of this pair has been trading flat these past several days. However, the Bollinger Bands on the hourly and daily charts are tightening, signaling an impending volatile jump. With a bearish cross on the hourly MACD and the 4-hour chart’s Slow Stochastic, this volatile jump may very well be bearish. Forex traders have a great opportunity to enter early sell positions before this jump takes place and ride out the downward slope for profits!

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USD/ZAR:

This pair has entered a long and steady downward trend and doesn’t appear to be stopping. After the Bollinger Bands on the hourly chart tightened, a volatile downward movement occurred and there now appears to be bullish crosses on the 4-hour and daily chart’s Slow Stochastic and MACD. Contrary to these indications, however, is the fact that the downward momentum still has plenty of room to run. Sticking with the downtrend, forex traders should enter their short positions and finish riding out this profitable move.

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Silver:

The current bullish trend continues as all technical indicators on the daily and the 1 hour charts are showing that the direction is up and the momentum is high. This provides forex traders with a great chance of enjoying the additional momentum still left for the commodity.

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Crude Oil:

The black gold is on a 4-day bullish run, as it looks to reach $75 a barrel. It seems that the pair may be approaching oversold territory. However, the daily chart’s Bollinger Bands and the weekly chart’s MACD support this upward trend to continue for the coming days. Going long with tight stops may turn out to be a wise strategy for forex traders today.

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Gold:

Gold has resumed its bullish trend this week and is currently traded for $935 per ounce. A very distinct bullish channel is formed on the 1-hour chart, and a bullish cross is taking place at the 4-hour chart’s MACD. It seems that this might be a great opportunity for forex traders to join a very popular trend.

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Crude Oil :

The recent downward trend of Crude Oil may have come to an end, as the black gold benefited from the weak USD in the forex market yesterday. The upward trend is supported by the weekly chart’s Stochastic Slow. On the other hand, the chart’s RSI and the daily chart’s MACD indicate that there is much bearishness ahead for Crude. Entering Crude Oil before the downward breach occurs may be a wise choice today.

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EUR/NOK:

The sustained upward movement for this pair has pushed many indicators into the over-bought territory and created bearish crosses across the board. However, the Parabolic SAR on all charts is still signaling for forex traders to buy. Without a clear downward correction today, this pair will likely continue upwards as the NOK loses value to the EUR. Today will either be the day this pair reverses, or continues to climb to record highs. Choosing the right one will earn big bucks today.

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Crude Oil:

Oil prices dropped significantly last week and peaked at 69.50 per barrel. However, a bullish cross forming on the 4-hour chart’s Slow Stochastic implies that an upwards correction might take place in the nearest time frame. This might be a good opportunity for forex traders to enter the trend at a very early stage.

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