Monday, April 28, 2008 6:46:13 AM
Forex Technical chart Review 4/28/08
Oil
Oil is a bit over 116 target as momentum is still in force so news can move it pretty easily.
for short term it failed attempt to breach through the bullish channel from the bottom section has caused the bullish momentum to regain its strength. Crude Oil is now showing extremely strong bullish momentum as seen by the hourly oscillators. This is a great opportunity for us to join the trend, with fresh all time highs being breached on a daily basis
EURO/Yen
The EURO to Japanese Yen ratio chart reached resistance and fell back last week
Yen
Yen on its own as reference. Now near the 38% retrace on Fib`.
USD
broke out of the triangle, two eventual possible targets show.
EUR/USD
After bottoming at the key Fibonacci level of 1.5550, the pair is showing regenerated bullish momentum. The 4 hour Slow Stochastic is showing a bullish cross, and it appears that on the hourly level the next target price is 1.5680. Going long
today
GBP/USD
The bullish momentum which was created after the breach of the flag is slowly diminishing. The daily chart is showing a increasing bearish momentum and the hourly Slow Stochastic is strengthening the bearish notion. With an estimated target price of 1.9710, will go short today.
USD/JPY
The bullish channel on the daily chart is getting tighter, and the pair now floats near the upper section of it. The general momentum is very bullish, yet the hourlies are indicting a possible correction. It appears that buying on dips should be the best strategy today.
USD/CHF
The bullish momentum the pair has shown since the breach of the channel on the daily chart continues. The daily Slow Stochastic is showing the continuation of the trend, and the hourly studies confirm the bullish notion. Going long today.
Have a good trading all and SHOW MY THE $$$$$
GL
TSAFI
Oil
Oil is a bit over 116 target as momentum is still in force so news can move it pretty easily.
for short term it failed attempt to breach through the bullish channel from the bottom section has caused the bullish momentum to regain its strength. Crude Oil is now showing extremely strong bullish momentum as seen by the hourly oscillators. This is a great opportunity for us to join the trend, with fresh all time highs being breached on a daily basis
EURO/Yen
The EURO to Japanese Yen ratio chart reached resistance and fell back last week
Yen
Yen on its own as reference. Now near the 38% retrace on Fib`.
USD
broke out of the triangle, two eventual possible targets show.
EUR/USD
After bottoming at the key Fibonacci level of 1.5550, the pair is showing regenerated bullish momentum. The 4 hour Slow Stochastic is showing a bullish cross, and it appears that on the hourly level the next target price is 1.5680. Going long
today
GBP/USD
The bullish momentum which was created after the breach of the flag is slowly diminishing. The daily chart is showing a increasing bearish momentum and the hourly Slow Stochastic is strengthening the bearish notion. With an estimated target price of 1.9710, will go short today.
USD/JPY
The bullish channel on the daily chart is getting tighter, and the pair now floats near the upper section of it. The general momentum is very bullish, yet the hourlies are indicting a possible correction. It appears that buying on dips should be the best strategy today.
USD/CHF
The bullish momentum the pair has shown since the breach of the channel on the daily chart continues. The daily Slow Stochastic is showing the continuation of the trend, and the hourly studies confirm the bullish notion. Going long today.
Have a good trading all and SHOW MY THE $$$$$
GL
TSAFI
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