Forex Trading - Advice and Tips

The RSI lacks upward momentum, the pair is on the downside and is challenging its intermediary support. Suggest short positions below 1.489 with targets at 1.4775 and 1.4725.
The upside penetration of 1.489 will call for 1.493 and 1.498.

The Euro fell against the Dollar for a second session in a row on Tuesday, as investors retreated from the risk and embraced safer assets such as US Treasurys. Unexpectedly weak US confidence data intensifies the risk-averse mood of investors who also worried about the posibility the US Federal Reserve could signal an eventual end to its stimulitive policy stance at its policy-setting meeting next week, The same aversion to risk that pulverised the Euro resulted in the Dollar ceding some territory against the yen as investors unwound earlier carry trades in which they borrowed cheap yen to invest in higher-yielding currencies such as the Australian and New Zealand dollars. People looking for safety seems to be the bottom line here.

The pair is challenging its bullish channel lower boundry, the RSI is badly directed. Suggest short positions below 92.35 with targets at 91.8 and 91.55
The upside penetration of 92.35 will call for 92.6 and 92.9

The pair is posting a rebound on its support but its extension should be limited by its new resistance (former channel lower boundry). Suggest short positions below 1.4975 with 1.485 and 1.48 as next targets. The upside penetration of 1.4975 will call for a rebound towards 1.5015 and 1.5065

The dollar bounced up strongly from an overnight 14-month low against the euro Monday, as slipping US stocks and battered commodities sapped risk appetite across markets, lending support to thr safe-haven USD. The Euro surrendered the psychologocally importnat $1.50 level, sinking to its lowest level in a week against the dollar in afternoon New York trading. After commodities and higher-yielding currencies notched higher over the past week- many to 12 month records or better-the market was ripe for profit-taking, analysts said. The dollar is on one side of the days broad movements and all of the risk assest are on the other side of the equation, partially explaining investors moves away from riskier assests to the dollar.

The pair is challenging its bullish channel lower boundry, the RSI is mixed and calls for caution. Suggest long positions above 91.55 with 92.25 and 92.6 as next targets. The downside penetration of 91.55 will call for slide towards 91.3 and 91

The pair remains within the bullish channel and is challenging resistance, a pull back should not be ruled out ahead of a further up move. Suggest long positions above 1.4965 with 1.506 and 1.511 in sight. The downside penetration of 1.4965 will call for 1.491 and 1.4882

The dollar carved out moderate gains against the euro and hit one-month highs against the yen Friday, as global risk appetite shriveled in the face of weaker stock markets. News of a surprise contraction in UK economic groth also damaged sentiment by cutting into optimism about the global economic recovery prospects, resulting in a sharp selloff for the pound aand leaving it as the major underperformer on the day. Late Friday, the Euro was at $1.4998 from $1.5031 late Thursday, according to EBS vis CQG. The dollar was at Y92.07 from Y91.28, while the Euro was at Y1.38.04 from Y137.20

The pair is rebounding but stands below a declining trand line, the RSI is mixed to bearish. Suggest short positions below 89.8 with 89.2 and 88.8 as next targets, The upside breakout of 89.8 will open the way to 90.2 and 90.5
Weekly chart trend: Bearish

The pair remains within the bullish channel and is challenging its lower boundry, the RSI is well directed. Suggest long positions above 1.4875 with 1.499 and 1.501 as next targets. The downside penetration of 1.4875 will call for 1.484 and 1.48
Weekly chart trend: Bullish