Today's message about the Forex Trading Alerts is going to be short as Nadia Simmons is still not in the position to write the regular issue in full today. However, she is keeping an eye on market developments, and has sent in the following summary:

The euro keeps trading below the lower border of the blue consolidation, and challenged the mid-September lows earlier today. While the daily indicators continue pointing in the direction of further deterioration, the pair has recovered a small fraction of yesterday's losses and is trading inside the green support zone currently. Yesterday's USD/JPY upswing notwithstanding, today's downswing brought the pair clearly inside the declining grey trend channel after the earlier breakout above its upper border has been invalidated. The daily indicators keep supporting the downside move and the short position remains justified. GBP/USD bears tried to break below the lower border of the blue consolidation but the exchange rate is attempting to come back inside the consolidation. The pair is however trading well below the previously-broken pink resistance zone and both the CCI and Stochastic Oscillator favor continuation of the downside move. The profitable short position remains justified. While USD/CHF scored gains yesterday, the bulls were unable to add to them lastingly earlier today. Last two days' price action appears to be a mere correction of the preceding downside move and the short position remains justified. Apart from these, there're no other opportunities worth acting upon in the currencies. As always, we'll keep you - our subscribers - informed.

Thank you.

Nadia Simmons
Forex & Oil Trading Strategist