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Market Update by Bulls Capital Markets

Bulls Capital Markets

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EUR/USD : The big question is whether to trust this as a bullish signal. We always say that the day after a huge candle is just as important, as it is a confirmation candle. Currently the euro is back lower again and the confirmation is not coming through. We must be cautious then. The daily chart shows a mix of neutral momentum indicators.

GBP /USD: A range of around 130 pips has contained trading in the past week and there is little real direction being obtained from the daily chart. The momentum indicators are fairly stable although there is a slight negative drift on the Stochastics.

USD/JPY: The momentum indicators are corrective without being overly negative. The intraday hourly chart is interesting as to the continued use of the Fibonacci retracement levels of the 118.86/125.85 bull run.

Source: https://www.bullscapitalmarkets.com/forex-daily-newsletter/free-forex-signals.php
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