Wednesday, April 25, 2012

Forex Trading Signal Week #4 2012

February 12, 2012 by  
Filed under Forex Signals

Forex Trend Analysis

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

The overall trend for this week is UP.

Forex Technical Analysis

Hourly Chart
With the formation of a MACD negative divergence last week, the price of EURUSD has fell by over 100 pips. It is currently being supported by a strong Fibonacci 0.500 support.

4 Hourly Chart
There is also a formation of a negative MACD divergence on this time frame which is a sign that the price is going to move down.

Overall Forex Analysis
I will look to go SHORT for this pair as there is a confluence of MACD negative divergence on the 2 time frame. I will go SHORT if the price manages to break below the 0.500 Fibonacci level.

Other Related Posts:

  1. Forex Trading Signal Week #3 2012
  2. Forex Trading Signal Week 2 2012
  3. Forex Trading Signal Week #5 2012
  4. Forex Trading Signal Week #1 2012
  5. Forex Trading Signal Week #8 2012

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