Wild Card Silver 8 Sep 2009


Tuesday, 8 Sep 2009
Forex Market to Move on News Coming from Europe and Canada

In forex trading, the USD is set to have relatively quiet news today. This lack of major news indicates that the other major currencies, such as the GBP, EUR and CAD, may be the market movers today and traders should pay close attention to each of their respective economic news releases.


The Wild Card
Silver

Silver prices rose significantly in the last month and peaked at $16.41 per ounce. However, there is a bearish cross on the daily chart's Slow Stochastic suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.