Forex Trading Signal Week #40 2011
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
Forex Technical Analysis
4 Hourly Chart
The price is currently consolidating within a symmetrical triangle. If you take a look at the MACD indicator, you can see that it is hovering around the zero line as well.
Overall Forex Analysis
I will wait for the price to produce a valid breakout of the symmetrical triangle to enter a trade.
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