USD/MXN:
It appears as if a fresh bearish cross has formed on the hourly Slow Stochastic, suggesting to forex traders that an opportunity is impending. The RSI on the hourly, 4-hour, and daily chart are all sitting in a bearish posture. Combined with the bearish cross mentioned above, it is evident that a downward movement is impending. Going short on this pair today may not be a bad idea.
Crude Oil:
The high volatility of Crude Oil continues, as yesterday a barrel of Oil was traded for over $71.50. However, a bearish cross on the 4-hour chart’s Slow Stochastic suggests that a bearish correction might take place today. This might be a good opportunity for forex traders to catch the trend at its beginning.
EUR/GBP:
This pair’s sustained upward movement has finally pushed its price into the over-bought territory on the daily chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to 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.
Gold :
The price of this commodity currently floats in the over-sold territory on the 4-hour chart’s RSI, indicating an upward correction may occur in the nearest future. With the recent bullish cross on both the 4-hour and hourly chart’s Slow Stochastic oscillators, this correction may indeed be imminent. Forex traders can earn high profits today by opening large buy positions and riding out this impending movement
GBP/AUD:
The hourly chart is showing buy signals today as a bullish cross has appeared on the chart’s Slow Stochastic, hinting towards an upward correction. The chart’s RSI is also showing upward momentum as the pair is trading in the oversold zone. Going long could be the profitable way for forex traders to go today.
Gold:
This precious metal’s sustained upward movement has resulted in its price floating in the over-bought territory on the 4-hour and daily RSI, suggesting significant downward pressure. With 2 consecutive bearish crosses on the 4-hour Slow Stochastic and hourly MACD, forex traders may have an opportunity to jump on the downward correction of this commodity, and at a great entry price.
Silver:
The violent bullish trend continues as all technical indicators on the daily and the 4 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 upwards momentum which still seems to be remaining for this commodity.
NZD/JPY:
This pair’s sustained upward movement has finally pushed its price into the over-bought territory on the hourly chart’s RSI. Not only that, but there actually appears to be a bearish cross forming on the 4 hour charts’ Slow Stochastic pointing to 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.
Gold :
Gold prices rose significantly in the last week and peaked at $1003.45 for an ounce. However, the daily 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.
Crude Oil:
Crude Oil has been very bullish this week, and has given big returns for many forex traders. The weekly chart’s oscillators seem to be showing mixed signals. However, the MACD of the 4-hour chart offers a more accurate picture that the trend for today may be a downward correction. Going short with tight stops seems to be the preferred choice for today.