If you have followed my signal last week to wait for the breakout of EURUSD and then enter your position when the price came back to retest the support of 1.43807, you should have profited at least 200 pips from the movement.
1) Forex Trading Signal For GBPJPY
Forex Trend Analysis
The overall trend for this pair is still DOWN
Forex Technical Analysis
Hourly Chart
The price is moving within a horizontal trend channel and the price is being held between a strong support and a strong resistance level. In addition, the MACD has neutralized which means that the downward pressure has been relieved.
GBPJPY HourlyOverall Forex Analysis
I will continue to go SHORT for this pair but I will wait for the price to break below the trend channel before I take any position.
2) Forex Trading Signal For EURUSD
Forex Trend Analysis
4 Hourly Chart: Strong BullishAs a whole, the trend for EURUSD this week is UP.
Forex Technical Analysis
4 Hourly Chart
I hope that you guys have profited from the downmove. However the price reverses and move back up nearly 300 pips and created another new high.
However at the same time, the price also created another MACD negative divergence with the formation of a railway track formation.
EURUSD 4 HourHourly Chart
The price also forms a head and shoulder pattern on this time frame. In fact, at the time of writing this post, the price has broken below the neckline.
EURUSD HourlyOverall Forex Analysis
I will look to go SHORT for this pair and I will look to exit at 1.44377 which is the price projection for the head and shoulder pattern.
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