EUR-USD (4 Hourly Time Frame)
The long-term direction of EUR-USD is downward, but let's take a look at the short-term movement within 1 hour time frame.
MACD = Up
Stochastic = Up
Bollinger Band = Upper Band Line
Fibonacci Retracement = 23.6% current position
Candlestick Chart Pattern = Weakening
Summary: The best possible retracement is 38.2% at 1.3550 and the highest maximum retracement upward up to 61.8% at 1.3625
GBP-USD (4 Hourly Time Frame)
MACD = Up
Stochastic = Up
Bollinger Band = Middle Band Line
Fibonacci Retracement = 61.8%
Summary: Retracement at 61.8% downward has already been reach and all MACD and Stochastic are pointing upward. And also the Bollinger Band only prematurely stop in the middle line. That means the GBP-USD is bullish in the short-term.
USD-JPY (4 Hourly Time Frame)
MACD = Down
Stochastic = Down
Bollinger Band = Upper Band Line
Fibonacci Retracement = 23.6%
Summary: Retracement at 23.6% (83.092) is not enough. MACD and Stochastic both heading downward support further correction at least 38.2% (82.750). If further correction down then maximum is 61.8% (82.250)
USD-CHF (4 Hourly Time Frame)
MACD = Down
Stochastic = Down
Bollinger Band = Upper Band Line
Fibonacci Retracement = 23.6% (0.96890)
Summary: Retracement down to 38.2% (0.9600) is possible as all MACD and Stochastic support the condition.
forex strategy | forex forecast | forex signal | forex signals | forex scalping | BCOUSD | Gold | XAUUSD | Brent Crude Oil | technical analysis | historical data
Sequence of Analysis
1. Let the market stretch
2. Support / Resistance
3. Price Actions
4. MACD / Stochastic
5. Overbought / oversold - two long candle (hourly / 4H / Daily
2. Support / Resistance
3. Price Actions
4. MACD / Stochastic
5. Overbought / oversold - two long candle (hourly / 4H / Daily
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