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2014-10-07
Daily Forex Analysis


07/10/2014

Currency Strength

USD, JPY and AUD are the three strongest currencies based on their 4h performance.

GBP, AUD, NZD and EUR are the 4 weakest currencies with NZD trying hard to strengthen.

CAD is still in the middle not knowing where it wants to be.

Currency Day Trends

AUDNZD, uptrend still intact with large daily price ranges, sideways on the 4h chart
AUDUSD, downtrend still intact lots of volatility on 4h chart
CADCHF, uptrend intact
CHFJPY, downtrend still intact
EURCAD, downtrend still intact
EURCHF, uptrend still intact, very aggressive
EURJPY, downtrend still intact
EURUSD, downtrend still intact
GBPCAD, downtrend still confirmed
GBPUSD, downtrend still intact
NZDCAD, downtrend still intact although the 4h chart is sideways
NZDJPY, downtrend still intact although the 4h chart is sideways
NZDUSD, downtrend still intact
USDCHF, uptrend still intact

Possible signals for today

CHFJPY
EURJPY

There is a lot of large candles on the daily charts positive and negative next to each other showing that the market is not sure where it wants to go. Like a tug of war. Not the ideal time to try and trade so keep your stops close and only trade when your strategy gives you a signal, don’t try and pre-empt the market.

Any questions regarding the analysis you can email me on chrizette@realtrader.co.za

To learn how to trade                                                                                                   
 


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