Focus continues to be held on Japan and the Middle East, especially Bahrain, today as the scenario in both countries brings anxiousness to an already volatile global setting. The nuclear disaster in Fukushima has reconditioned worries of delayed economic healing while the continuing violence in Manama induced additional flight to quality. However, stocks regained ground, a move that did not transfer signals to the currency trading market.
A massive downside miss in U.S. Housing Starts and major upside miss in PPI signals a stagflation atmosphere which doesn’t bode well for the USD for the mid-term.
USD/JPY and also the complete JPY complex plunged in the twilight hours in between the New York close and the Sydney-Tokyo open on restored concerns regarding Japan and anticipations of large Japanese repatriation to fund expenses linked with the earthquake. Later this morning, nearer to the London open, the USD and JPY regained much of the gains as the risk-aversion of the previous 3 days is abating.
EUR/USD Forex signals perspectives for Metatrader: A pull back to the mid 20-day Bolli band at 1.3838 is probable. The sellers are urged by the individual currency’s disappointment at the 1.4000-handle. MACD is neutral today. RSI points south, agreeing to the commonly somewhat bearish bias 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. Even so, the bottom 20-day Bolli bad at 1.6026 is indicating to be a sound support for the sterling. The 20-day moving average at 1.6183 is acting like a magnet. The 20-day mid Bolli band is a critical stage.
USD/JPY Metatrader Forex Brokers Alerts Assessment: MACD is moving on on its bearish cross today, giving a negative look to the couple. RSI is negative, just over the oversold mark of 30. Probably tight ranges should control here with the bottom 20-day Bolli band at 80.87 underpinning the action on the downside, while the 20-day MA at 82.26 is likely to cap advancement higher. The fact that the bottom Bolli band was penetrated yesterday and today, adjusts emphasis to more downside.
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