Attention remains to be held on Japan and the Middle East, specifically Bahrain, this afternoon as the predicament in both countries provides anxiety to an already unstable global environment. The nuclear catastrophe in Fukushima has reconditioned fears of delayed economic restoration while the ongoing violence in Manama triggered further flight to quality. Nevertheless, stocks regained ground, a move that didn’t transfer signals to the currency trading market.
An enormous downside miss in U.S. Housing Starts and significant upside miss in PPI signals a stagflation environment which doesn’t bode well for the USD over a mid-term.
USD/JPY as well as the whole JPY complex plunged in the twilight hours in between the New York close and the Sydney-Tokyo open on renewed concerns regarding Japan and expectations of huge Japanese repatriation to pay for expenses associated with the earthquake. Later this morning, closer to the London open, the USD and JPY pared back much of the gains as the risk-aversion of the last 3 days is abating.
EUR/USD Forex signals views for Metatrader: A pull back to the mid 20-day Bolli band at 1.3838 is likely. The sellers are motivated by the single currency’s disappointment at the 1.4000-handle. MACD is neutral today. RSI points south, agreeing with the generally slightly bearish tendency here.
GBP/USD Currency signals for MT4: The general picture has rolled over to a neutral one. MACD is in a decisive negative cross, RSI has also turned lower. Nonetheless, the bottom 20-day Bolli bad at 1.6026 is showing to be a solid support for the sterling. The 20-day moving average at 1.6183 is performing like a magnet. The 20-day mid Bolli band is a vital stage.
USD/JPY Metatrader Forex Brokers Alerts Evaluation: MACD is moving on on its bearish cross today, offering an undesirable look to the set. RSI is negative, just over the oversold mark of 30. Almost certainly tight ranges will dominate here with the bottom 20-day Bolli band at 80.87 underpinning the action on the downside, whilst the 20-day MA at 82.26 is most likely to restrict improvement higher. The reality that the bottom Bolli band was broken yesterday and today, shifts emphasis to additional downside.
Easy Pips Forex Signals provides automated signals of their forex forecasts direct to your metatrader 4 trading account. If you would like to see how their Fx Signals are delivered and automatically received into your metatrader account, you can try the service 2 weeks free.
