FX.co ★ Daily Trading Forecasts (September 18, 2012)

EURUSD: EURUSD traded sideways yesterday. The price is still above the EMA 21 and a new long order might be generated when the Stochastic Oscillator reaches the oversold territory.

USDCHF: This pair was also caught in a sideways movement, and the price is still below the EMA 21. A renewed ‘sell’ signal would be valid once the Stochastic Oscillator gets to the overbought territory.

GBPUSD: The Cable went moderately upward on Monday, and can continue doing so despite some imminent pullbacks, for the Williams’ % Range is in the overbought region. The price is still above the EMA 21.

EURJPY: EURJPY went moderately upward on Monday. A pullback would not be a surprise because the Williams’ % Range is in the overbought territory, though the price still stays above the 2 EMAs.

USDJPY: In this market, a long trade is now valid. The EMA 11 has already crossed the EMA 56 to the upside; therefore, confirming the change to a bullish bias.