Forex Technical Review

[tsafi]

EUR/USD
The daily chart is showing strong bullish momentum as the slow stochastic is showing no crosses and is still floating at the 50 level. The 4 hour chart shows a moderate bearish cross which might indicate on a local corrective move before the bullish trend resumes. Buying on dips could be a good strategy i think for today.
GBP/USD
The cable has been showing bullish consistency and is now traded around 2.0050 which is a key Fibonacci level. A breach through that level will validate a very strong bullish move with a potential target price of 2.0180. Going long might be a wise choice today.
USD/JPY
There has been a very significant breach through the very distinct flag formation on the 4 hour chart. The bearish cross of the slow stochastic is supporting the bearish notion, and the next target price might be around 99.20.
USD/CHF
After the pair breached through the bullish channel of the 4 hour chart it bottomed at 1.0040 and is now showing its first bullish signals. There is a very distinct bullish cross on the slow stochastic of the 4 hour chart which indicates that the pair might have room to run up to the 1.0150 area. Going long might be the way to go today.