Sunday, February 12, 2012

Forex Trading Signal Week 2 2012

January 9, 2012 by  
Filed under Forex Signals

Forex Trading Signal For EURUSD

Forex Trend Analysis

  • Weekly Chart: Weak Bullish
  • Daily Chart: Weak Bearish
  • 4 Hourly Chart: Strong Bearish
  • Hourly Chart: Strong Bearish

As a whole, the trend for this pair is DOWN for this week.

Forex Technical Analysis

Hourly Chart
There is a possible formation of a MACD positive divergence and this will give us a chance to go LONG for this pair.

Overall Forex Analysis
However due to the strong bearish trend, the MACD positive divergence is more probably a retracement than a reversal. I will go LONG to grab some profit from the retracement if the MACD positive divergence is being formed when the MACD histogram flips to the top side.

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2 Responses to “Forex Trading Signal Week 2 2012”
  1. JIm says:

    Hi Kelvin,

    My MACD looks way different than yours. What setting are you using to get this MACD form?

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