Forex Trading Signal Week #32 2010
September 20, 2010 by Kelvin
Filed under Forex Signals
1) Forex Trading Signal For GBPJPY
Forex Trend Analysis
- Weekly Chart: Strong Bearish (DOWN)
- Daily Chart: Strong Bearish (DOWN)
- 4 Hourly Chart: Weak Bearish (DOWN)
- Hourly Chart: Strong Bullish (UP)
Although the overall trend for the GBPJPY is still down, there is a high chance that the price might move up due to the intervention of the Japanese government.
Forex Technical Analysis
Weekly Chart
With the intervention of the Japanese government on the Yen, there is a long UP candlestick last week. However it seems to be resisted by the resistance line of the trend line at the moment.
GBPJPY Weekly
Daily Chart
On the daily chart, the price is resisted by the 100 EMA but it seems that there is still strong buyer strength as the MACD histogram is still very high.
GBPJPY Daily
Overall Forex Analysis
It is pretty hard to tell whether to go LONG or SHORT for this week as there is not much indication to tell. However if the price manages to break above the resistance trend line at 134.9 on the weekly chart, I will go LONG to trade the breakout.
2) Forex Trading Signal For EURUSD
Forex Trend Analysis
- Weekly Chart: Mix
- Daily Chart: Strong Bearish (DOWN)
- 4 Hourly Chart: Weak Bullish (UP)
- Hourly Chart: Strong Bullish (UP)
As a whole, the trend for this week seems to be UP.
Forex Technical Analysis
Daily Chart
The price is again retesting the 200 EMA and this is the second time it is testing this resistance.
EURUSD Daily
4 Hourly Chart
It seems like the price has broken below the trend line and has successfully retested the trend line.
EURUSD 4 Hourly
Overall Forex Analysis
The trend for this week is contradicting the breakout that is occurring on the 4 hourly chart. This is giving me some problem with my entry as the breakout could likely be a fakeout and the price will eventually move up.
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hi there – is it just me !! can any one explain why when i type in the bing browser “www.how-to-trade-currency.com” i get a different site yet whe i type it in google its ok? could this be a bug in my system or is any one else having same probs ?
alf saden
Hi
I am not sure if anyone else here also has this problem.