TIPS AND FREE FOREX ANALYSIS

1) Forex Trading Signal For EURUSD
Forex Trend Analysis

• Weekly Chart: Mix

• Daily Chart: Strong Bullish

• 4 Hourly Chart: Strong Bullish

• Hourly Chart: Strong Bullish

As a whole, the overall trend for EURUSD is up for the week.
Forex Technical Analysis
4 Hour Chart
If you have read my previous analysis on this pair, you will have notice the formation of the 123 reversal pattern. I said that I will go SHORT if the price manages to break below the neckline of the pattern. However the price hit the level and indeed attempt to break below for six consecutive times without success.
After the sixth attempt, the price moves up and then came back down to test the same level for another 5 times below moving up again.
Daily Chart
The price is moving up towards the next major resistance at 1.44839. The MACD negative divergence still holds as the price is making a higher high but the MACD did not manage to create a higher high.
Overall Forex Analysis
The trend for this pair remains strong but the MACD negative divergence did not get invalidated and therefore I will not look to go long. I will look to go SHORT when the price hit the major resistance but I shall be looking for other confluence like the reversal candlestick pattern.
2) Forex Trading Signal For GBPJPY
Forex Trend Analysis

• Weekly Chart: Strong Bearish

• Daily Chart: Weak Bearish

• 4 Hourly Chart: Weak Bullish

• Hourly Chart: Strong Bullish

As a whole, the trend is mix for this week but I will look to go SHORT as the higher time frame shows sign of strong bearish
Forex Technical Analysis
Hourly Chart
The price is currently moving within a trend channel which is a sign of pressure relieve after a big up move.
Overall Forex Analysis
I will wait for the price to break the channel before I decided which direction to go.

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