Forex Trading Signals – May 4, 2017

By:

Updated: May 4, 2017, 11:26 GMT+00:00

Neutral models prevail across the table for traders' favourite pair, the Euro/Dollar, which sees 5 neutral signals in the short-term

Neutral models prevail across the table for traders’ favourite pair, the Euro/Dollar, which sees 5 neutral signals in the short-term, 6 in the mid-term and 4 in the long-term, but the interbank is actually quite bullish at more than 21% long.
The Cable sees 4 neutral models on its hourly chart. The 4-hour scale is mostly bearish, and the 24-hour chart is back to neutral. As to the interbank, it is also neutral at less than 3% long, matching the 1 and 24-hour models.

4 studies predict no major price changes on Dollar/Yen’s short-term chart, while bullish signals dominate in the mid and long term. The interbank is neutral at less than 15% long, supporting the 1-hour studies.
Pound/Yen also has 4 neutral studies on its 1-hour chart. The 4 and 24-hour scales turn bullish with 4 and 5 signals, respectively, but the interbank is neutral at less than 5% long, and it backs up the short-term models.
And Euro/Yen sees 6 buy prompts in the short-term. The mid-term is, somewhat confusingly, split between red and green technicals, and the daily outlook is overwhelmingly bullish. In contrast, the interbank is neutral at less than 8% short.

About the Author

Editors’ Picks