Tuesday, April 24, 2012

Forex Trading Signal Week #9 2012

April 8, 2012 by  
Filed under Forex Signals

Forex Trend Analysis

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

As a whole, the trend for the EURUSD this week is DOWN

Forex Technical Analysis

Hourly Chart
The price has moved up last week due to the formation of a MACD positive divergence. However the price is now being resisted by a strong resistance at 1.31137 which is the confluence of the M3 Daily Pivot and Fibonacci 0.382 Level.

Overall Forex Analysis

I will look to go SHORT for this pair due to the strong downtrend. However there is a strong support at 1.30484 and if the price manages to break below it, I will go SHORT.

Other Related Posts:

  1. Forex Trading Signal Week 2 2012
  2. Forex Trading Signal Week #5 2012
  3. Forex Trading Signal Week #3 2012
  4. Forex Trading Signal Week #7 2012
  5. Forex Trading Signal Week #6 2012

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