Forex Trading Signals – October 06, 2017

These are the Main Daily Trading Signals for Friday. Here’s how our the technicals compare with the interbank at 8 AM GMT.

There’s red across the table for the Euro/Dollar, which sees 6 sell prompts in the short-term, 5 in the mid-term and no less than 7 in the long-term, but the technicals are not supported by the interbank, which is neutral at less than 7% long.

The Cable also has bearish signals prevailing in all three time ranges, with 4 red models in the short-term, 5 in the mid-term and 7 in the long-term, and this time they’re indeed in line with the more than 18% short interbank.

Next up is the Dollar/Yen with 4 and 6 bullish signals on its 1 and 4-hour charts, respectively. The 24-hour scale is split between green and neutral models, but the interbank is bullish at more than 20% long, matching the 1 and 4-hour technicals. Pound/Yen sees 5 sell prompts on both its short and mid-term charts, whereas the daily outlook brings 6 bearish models, but, in contrast, the interbank is neutral at less than 6% long.

And 5 studies predict no major price changes on Euro/Yen’s hourly chart. The 4 and 24-hour scales see 5 bearish models each, but the interbank is neutral at less than 13% long, backing up the 1-hour models.