So how are you doing ? Hope good ... Im here today for give some knowledge how to trade Forex ..
Yesterday is a very good movement seems like all my forecast is out of range...
Nevermind, let us see what we have for today ...
As usual we go to Forex Factory to see what type of Fundamental we have for today
Well .. we have Non-Farm Payroll today ... and what we can see all major currency such as GBP, EUR, CHF, CAD is Bank Holiday ... It might be though to forecast for NFP today ...
Ok then...Normally i do forecast for NFP is using Unemployment data, but today FF only have Employment rate which is same as previous..
How about we see what we have in Technical Analysis .. .
EUR/USD
In EUR/USD ...
Chart Pattern is NONE .. Meaning that i can see the chart pattern in this time frame(1H)..
If we see the Stochastics and RSI is already oversold, which mean it gonna Bulish soon..But we have to wait confirmation at 25% level..
For the MACD , it still above the 0-level which mean that the trend in this time frame is still Bullish
For the current movement, i will parking order at lowest at blue line
GBP/USD
So the GBP/USD show same as what EUR/USD...
Chart pattern : NONE
Stochastics and RSI show pointing up soon, but still need confirmation once cross 25% level as i determined as Oversold level
MACD is below the 0-level..This make the current trend is bearish,so then i will wait and park my order at top for Short ...
Thats for today .. see you the result next week ... Happy Trading .. : )
**For NFP, u can apply the trendline knowledge since today USD might be great move ...
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