Forex Trading Signal Week 2 2012
January 9, 2012 by Kelvin
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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Hi Kelvin,
My MACD looks way different than yours. What setting are you using to get this MACD form?
Hi Jim
How different is your MACD, I am using the default setting.