1) Forex Trading Signal For EURUSD
Forex Trend Analysis
As a whole, the trend for this week is DOWN.
Forex Technical Analysis
Hourly Chart
There is a formation of a rising wedge which is a sign of bearishness. From the formation, it looks like the the price will collapse downward. However you have to take note of the R2 Daily Pivot which is a major support for the price.
Hourly Chart EURUSD4 Hourly Chart
The price is approaching a major resistance which is in confluence with the 200 EMA.
4 Hourly Chart EURUSDOverall Forex Analysis
I will look to go SHORT if the price breaks below the wedge and R2 Daily Pivot.
2) Forex Trading Signal For GBPJPY
Forex Trend Analysis
As a whole, the trend for this pair is UP.
Forex Technical Analysis
Hourly Chart
The price has broken the symmetrical triangle and is now testing the new support after the breakout.
Hourly Chart GBPJPY4 Hourly Chart
On this time frame, you can see that the price is being held by the 200EMA support.
4 Hourly Chart GBPJPYOverall Forex Analysis
I will wait for the price to break through the 200 EMA before entering any long trade.
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