1) Forex Trading Signal For EURUSD
Forex Trend Analysis
The overall trend remains bullish as the higher time frame is still pretty bullish. As for the bearish sentiment on the lower time frame, it could be just a retracement on the higher time frame.
Forex Technical Analysis
4 Hour Chart
The price continues its strong downmove on this time frame and the price is currently supported by the M1 Daily pivot.
Hourly Chart
The price has retraced to the 0.382 Fibonacci level and is now moving its extension. The minimum extension will be to 1.272 at 1.40434.
EURUSD HourlyOverall Forex Analysis
The price will continue its strong downmove as there are still no sign of reversal. Maybe you can go for selling the rally in this kind of situation.
2) Forex Trading Signal For GBPJPY
Forex Trend Analysis
As a whole, the trend for this pair is DOWN for the week.
Forex Technical Analysis
4 Hourly Chart
The price retraces to the 0.500 Fibonacci level which is in this case the same level as the 200 EMA. With this confluence of event, the price forms a railway track which is a sign of price reversal.
The price has moved past the most recent swing low and look set to move to at least the 1.272 extension at 129.249
GBPJPY 4HourlyOverall Forex Analysis
I will look to go SHORT for this pair until a reversal pattern is formed.
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