Forex Trading Signals – August 10, 2017
It’s 8 AM GMT, which means it’s time for the Main Trading Signals.
Bearish signals prevail for Euro/Dollar’s short and mid-term charts with 7 and 6 sell prompts respectively. The signals turn neutral in the long term, however, the interbank is bullish at more than 16% long and does not support any of the time frames.
The 1 and 4 hour charts are predominately bearish for the Cable, whereas the 24 hour chart is split between red and neutral models. The interbank is bearish at more than 29% short, in line with the 1 and 4 hour charts.
The picture changes for the Dollar/Yen, which has 5 green signals for both the short and mid-term charts. However, the long term chart is again at odds, showing 5 sell prompts instead. The interbank is neutral at more than 11% short, which again does not line up with the technicals.
The 1 and 4 hour charts are back to red for the Pound/Yen, with 6 and 4 sell signals respectively. The 24 hour chart is split between sell and neutral technicals. The interbank is neutral at more than 1% short, and yet again it does not support any of the charts.
And last for this overview is Euro/Yen, which has bearish models prevailing in all three time ranges. However, the interbank is bullish at more than 29% long.
So that wraps up today’s main Daily Trading Signals, but as always, be sure to check back for the latest updates.