Forex Trading Signals Week #13
November 9, 2009 by Kelvin
Filed under Forex Trading Signals
1) Forex Trading Signals For GBPJPY
Forex Trend Analysis
Weekly Chart: The exponential moving averages are stacked nicely in a downward manner with good angle and separation on this chart.
Daily Chart: The exponential moving averages for the daily chart are still stacked down but similar to last week, the gradient of the EMAs are pretty flat this signal a lack of momentum.
Weekly Chart: The MACD histogram has flipped up signalling a possible upward movement. The RSI in this case remain at the 50 mark however pointing up.
Daily Chart: The MACD histogram is shortening and look set to flip up in the coming days. There is a trend line break in the RSI in the up side and this signals a possible upward movement. However, the price is currently held by a resistance line at 150.670 levels.
Weekly Chart
Daily Chart
Overall Forex Analysis
If the price break through the 150.670 level, there is a high chance of a forex breakout movement and I will go LONG and if it is repelled by the trend line, I will go SHORT as the price may go into range movement.
2) Forex Trading Signals For EURUSD
Forex Trend Analysis
Weekly Chart: The EMAs for the weekly chart are stacked upward but like the daily chart in the GBPJPY pair, the gradient are flat signalling a lack of momentum.
Daily Chart: The EMAs are also stacked nicely upward but the momentum is better in this chart.
Forex Technical Analysis
Weekly Chart: The price is support by a strong support trend line while the MACD histogram is shortening showing a sign of weakness in the upside. The RSI is still slightly overbought.
Daily Chart: The MACD histogram has flipped up and the RSI has started to point upward signalling another upward movement.
Weekly Chart
Daily Chart
Overall Forex Analysis
I will BUY the dip in a rally for this currency pair as it looks set to move up further.
*You can read my past forex trading signals here
