Forex Technical Review

[tsafi]

Forex Technical Review 4/09/08

EUR/USD
look like a consolidating at 1.5710 and appears to be accumulating momentum ahead of the next break. 60 min` chart is showing moderate bullish momentum, and the daily chart is showing that there is still more room to run, probably towards the 1.5800 zone.
GBP/USD
The cable is in the middle of a very sharp bearish trend after the breach through the 1.9800 level. The slow stochastic is showing a negative slope on the daily chart, and it appears that the bearish trend will continue. Going short for today.
USD/JPY
No significant breach has been made in either direction, yet there is a bearish hint in the form of a cross on the 4 hour Slow Stochastic. The Bollinger Bands are tightening which indicates that the break is near. Going short with tight stops for today.
USD/CHF
There is a very distinct flag forming on the daily chart as the pair now floats at the tip of the flag. The slow stochastic is showing a bearish cross which might result in a breach through the bottom section of the flag. still no game for me on this one .