FX.co ★ Daily Trading Forecasts (September 25, 2012)

EURUSD: The EURUSD pair continued to lose its positions as the price stays below the EMA 21. The Stochastic reached the oversold territory and may spend sometime there.

USDCHF: This market is trying its slow and steady northward correction, or could we call it a new bullish bias? The price stays above the EMA 21 as the Stochastic is heading towards the overbought region.

GBPUSD: On this market, the bears are still trying to pull down the Cable, but the bulls are resisting it desperately. The Williams’ % Range is almost going into the oversold region - something that may cause a brief rally.

EURJPY: This could be rightly called a new bearish wave. The EMA 11 has crossed its EMA 56 counterpart to the downside, therefore signaling the end of the previous bullish propensity.

USDJPY: The bullish attempt that occurred last week on USDJPY was void. The EMA 11 has crossed the EMA 56 to the downside - SELL.