Gold:
Gold prices rose significantly in the last week and peaked at $955.45 an ounce. However, the 4-hour chart’s RSI is floating in the overbought territory suggesting that the recent upwards trend is losing 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.
Crude Oil:
Crude Oil has resurrected yet again as the top bullish commodity in Thursday’s trading. The black gold currently stands at the $72.60 level. Today’s technical data supports another possible upward move for Crude. This is mainly supported by the hourly chart’s Stochastic Slow and 4-hour chart’s MACD. So if you forex traders want to take advantage of this popular commodity now, then enter Crude as soon as possible as end-of-week trading kicks in.
Gold :
There is still a bearish configuration on the daily chart, indicating that the momentum is still down. However, hourly chart’s Slow Stochastic is about to enter an oversold territory, indicating that there might be a minor bullish correction before a broader bearish move resumes. Forex traders can maximize profits by selling on highs and taking advantage of a general bearish trend.
NZD/USD:
A fresh bearish cross has recently formed on the hourly, daily and weekly charts’ Slow Stochastic, indicating strong downward pressure on this pair. The price also floats in the over-bought territory on the daily and weekly charts’ RSI, strengthening this notion. Forex traders may not want to miss out on this opportunity by entering the downward movement at a great entry price.
Crude Oil:
Crude Oil prices rose significantly in the last month and peaked at $74.10 per barrel. However, there is a bearish cross on the daily chart’s Slow Stochastic suggesting that the recent upwards trend is losing 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.
Gold:
Gold prices saw a bullish trend during last week’s trading session, and an ounce of gold is currently traded for over $952. However, as a bearish cross is taking place at the 4-hour chart’s Slow Stochastic, it appears that a bearish correction might take place soon. This might be a good opportunity for forex traders to catch the trend at its beginning.
Silver:
Silver has experienced much bearishness in the past 2 weeks as it currently trades at the $13.74. The current bearish trend is expected to come to n end anytime soon, and a bullish correction may be in the making. This is supported by the RSI of the hourly and daily chart, and the Stochastic Slow of the hourly and daily chart. Entering the commodity when the upward breach occurs may turn out to pay off for forex traders today.
CHF/JPY:
The latest upward movement on this pair has given forex traders two distinct signals for a downward correction later today. The first is a bearish cross on the 4-hour Slow Stochastic, suggesting a downward movement is imminent. The second is a fresh doji candlestick formation on the 4-hour chart, which typically signals a reversal is in the making. Entering short positions as soon as possible may help traders capture decent profits.
Crude Oil:
There seems to be a fresh bearish cross on the hourly MACD, 4-hour Slow Stochastic, and daily MACD, each signaling that a downward correction is imminent. With the price floating near the over-bought territory on the 4-hour RSI, this downward movement may indeed be on its way. Forex traders should try to not miss out on the opportunity to call the reversal and ride out the crashing wave for profits.
GOLD:
Gold prices are once again dropping, and it is currently traded around $937 per ounce. And now, the 4 hour chart’s Slow Stochastic is giving bullish signals, indicating that gold prices might go up. This might give forex traders a great opportunity to enter a very popular trend.