Forex Trading Signal week #4

1) Forex Signal For GBP/JPY

Forex Trend Analysis

Weekly Chart: The EMAs has faltten for some time and has began to move into their stacking position signaling a downtrend

Daily Chart: The EMAs has totally flatten up and is looking for a direction

Hourly Chart: The EMAs are stacked in a downward manner signaling a downtrend

Forex Technical Analysis

Weekly Chart: The price is reaching the support line and may be rebounce but you got to be careful. However the railway track candlestick pattern actually gives me a higher confidence that it is going to be a downtrend.

Daily Chart: The price has just broke out of the trend wall, however you got to be careful as the stochastic is still closed to the oversold region.

Hourly Chart: The stochastic has also reached the point of oversold and you got to be patience and need to do your homework with the lower timeframe chart to find a good entry point.

EURUSD Daily Chart

EURUSD Hourly Chart

EURUSD Weekly Chart

Overall Forex Analysis

I will personally go for a “SELL” trade but I will look for better opportunity with lower timeframe chart. Do not RUSH into a trade as sometime “No Trade Is Better Than Loss Trade”

2) Forex Signal For EUR/USD

Forex Trend Analysis

Weekly Chart: The EMAs has flatten and is now looking for a direction.

Daily Chart: The EMAs has created a golden cross and is now looking for a upside direction

Hourly Chart: The EMAs are stacking up and is signaling an uptrend

Forex Technical Analysis

Weekly Chart: There is a divergence form between the price and the stochastic. Therefore there is a chance that a downtrend may take place.

Daily Chart: The stochastic has bent downward with good angle and separation. Therefore there may have some down side movement.

Hourly Chart: The stochastic is also pointing down with good angle and separation.

GBPJPY Hourly Chart

GBPJPY Daily Chart

GBPJPY Weekly Chart

Overall Forex Analysis

For this EUR/USD pair, there is a mix signal between the trend analysis and the technical analysis. If I am looking for a short term trade, I might go for “SELL” because the stochastic at the hourly chart is signaling down with good angle and separation. As it is a countertrend trade, I will take profit within 20 to 30 pips.