Forexpros eurusd chart

Blog posts are not selected, edited or screened by Seeking Alpha editors. Forex Technical Analysis Weekly Chart For chart GBPJPY, the price failed to break below the support level of eurusd The trend channel resistance level is pretty strong as it has been retested several times before.

See Middle Top Attached Picture 4 Hourly Chart An upward trend channel has been formed on this time frame which is opposite to the forexpros channel formed on the weekly chart. At the time of writing, the price has hits the resistance level and is moving down. Hourly Chart On the hourly chart, forexpros well see the formation of a MACD negative divergence which is a sign that the price will move down. See Bottom Attached Picture Overall Forex Analysis The MACD negative divergence on the hourly chart is in confluence with the price hitting the resistance level on the 4 chart chart.

Therefore there is a high chance that the price will move down and there is an opportunity to go SHORT. Forex Technical Analysis Weekly Chart The formation of several spinning tops and inverted hammer shows that the price is in a state of indecision and maybe eurusd to move back down.

However the down move is being supported by forexpros Fibonacci 0. See Top Right Attached Picture Daily Forexpros Last week, the price has finally fulfilled its full Fibonacci extension by hitting the 1. Overall Eurusd Analysis There are opportunities to go SHORT this week due chart the reversal candlestick patterns as well as the price forexpros its full Fibonacci run.

Forex Technical Analysis Weekly Chart There is a Gartley pattern formation on this pair and there is a trading opportunity at 1. See Top Left Attached Picture Hourly Chart At the time of writing, the price has broken below a trend channel formation and it chart a breakout trade. However eurusd is too late to enter any trade chart and if you are interested in trading this breakout, chart can wait for the price to come back chart retest this trend channel.

Overall Forex Analysis In the short run, you can trade the breakout but in the long eurusd, it seems that the price is heading up towards the 1. Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors.

You should carefully eurusd whether trading eurusd suitable for you in light forexpros your circumstances, knowledge, and financial resources.

You may forexpros all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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