Tuesday, April 24, 2012

Forex Trading Signals Week #9

October 14, 2009 by  
Filed under Forex Signals

1) Forex Trading Signal For GBPJPY

Forex Trend Analysis

Weekly Chart: The EMAs are stacked downward with good angle and separation showing strength in the downtrend

Daily chart: The EMAs are stacked downwards with the 100 EMA starting to align downwards with greater angle and separation

Forex Technical Analysis

Weekly Chart: The Stochastic is pointing down with good angle and separation but it is slowly approaching the oversold region and do be careful. The price now is in fact the last wave of a Elliot wave movement which has a good potential for more downward movement

Daily Chart: After the breakout of a trend wall, the price is moving sideway for 2 weeks. As the stochastic is at the oversold region, there is a possibility that the price is going sideway until the MACD neutralises before it resumes its downward movement

Overall Forex Analysis

AS a whole, the outlook for the GBPJPY currency pair is still SHORT. As it is consolidating now, you can now trend by SELLING the RALLY. Good Luck!

2) Forex Trading Signal For EURUSD

Forex Trend Analysis

Weekly Chart: The 50 and 100 EMAs are stacked up with good angle and separation while the 200 EMA is slowly aligning itself up as well

Daily Chart: All the EMAs are stacked up with good angle and separation signaling an uptrend

Forex Technical Analysis

Weekly Chart: The stochastic for this pair is highly overbought and MACD histogram divergence can be seen indicating a possible downward movement

Daily Chart: MACD negative divergence can be seen on this currency pair again indicating a possible downward retracement

Overall Forex Analysis

As a whole, I will go Long for this pair but will look for possible trading opportunity to go SHORT for the negative divergence movement

*Read the following post if you are interested in learning how to identify forex buy and sell signals.

Other Related Posts:

  1. Forex Trading Signals Week #8
  2. Forex Trading Signals Week #11
  3. Forex Trading Signals Week #10
  4.  Forex Trading Signals Week #7
  5. Forex Trading Signals Week #12

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

 Subscribe to Forex Traders Newsletter