Forex Technical Review

[tsafi]

Forex Technical Review 3/27/08

EUR/USD
The pair is in the middle of a very strong bullish trend and is now traded around 1.5780. The daily slow stochastic is showing that there is still room to run and that 1.5830 is a very strong resistance. If the pair breaches the resistance level, we might see a stronger bullish move that might take the pair into the 1.5900 zone. A failure to breach might bring a moderate corrective move.
GBP/USD
The cable is still floating around the key Fibonacci level 2.0060 and shows moderate bullish momentum. The daily slow stochastic is still bullish as the 4 hour chart provides mixed signals. but i will wait for a significant bullish break before swinging into the trend.

USD/JPY
The momentum which was created after the bearish breach through the flag on the 4 hour chart continues with full steam. The daily chart is still very bearish as the 4 hour chart is starting to show first signals of a moderate bullish momentum. i will sell on highs today.
USD/CHF
There is a widening bearish channel forming on the 4 hour chart as the pair now floats at the bottom level of it. A bullish cross on the slow stochastic supports the notion that the pair will test the upper level of the channel, probably before the weekend. Going long with tight stops might be a good play today i think.