Forex Trading Signals For 2nd to 6th March 2015

Hello Traders,

here are some forex trading signals/trading setups that I see forming. Some may happen this week, whilst others may take a while to form and can happen sometime this month or even next month.

But its good to see what’s happening and be prepared for it.

 

#1: Forex Trading Signal on AUDUSD

  • On the daily timeframe, notice the downward trendline is still being respected.
  • Price may come up and hit it and head down again.
  • If that happens watch for bearish reversal candlestick patterns on the 1h or the 4hr timeframe and go short.
  • If price breaks that trendline, it may continue to go up but since the overall trend of this pair is down, I am really not bullish on AUDUSD for the medium term.

Forex Trading Signal AUDUSD Daily Timeframe

This next chart below is the chart of audusd seen from the monthly timeframe.

  • Notice that there’s an upward trendline and price is heading down to it. It is something to watch further down the line as time goes by. This trendline may be the catalyst to halt the AUDUSD downward move for a little while and push it back up? Don’t really know but when price hits this trendline, it would present a good buying opportunity if there’s a bullish signal on the daily, 4hr or even 1 hr chart.
  • this is something to keep at the back  of your mind maybe a month of 2 down the line if price keeps going down on this pair…sooner or later, its going to hit that trendline…

 

Forex Trading Signal AUDUSD Monthly Timeframe

#2: Forex trading signal on EURAUD

  • Notice the symmetrical triangle formation happening.
  • Notice also that the overall trend has been up for some time.
  • With these in mind, I’m thinking that if price comes down and hits the lower trendine, there will be an upward bounce.

Forex Trading Signal EURAUD Weekly Timeframe

#3: Forex Trading Signal On EURGBP

  • The downward channel patten formation has failed last week as you can see (and I was expecting price to bounce up from the lower channel trendline but it just crashed through it).
  • Now, price has hit a level which I think is a potential support level and may bounce back up.
  • So watch what happens on the daily and 4hr charts to see if any bullish signals form on that support level and I think that should present a good risk:reward trade entry if that happens.

 

Forex Trading Signal EURGBP Monthly Timeframe

#4: Forex Trading Signal EURJPY

This is a long way off from happening but just be aware of this setup that is happening…

 

Forex Trading Signal on EURJPY Monthly Timeframe

#5: Forex Trading Signal GBPJPY

  • This also is will take some time to form but you can see that price is heading up to a resistance level.
  • Expect a downward bounce when it hits that resistance level.

Forex Trading Signal GBPJPY Monthly Timeframe

#6: Forex Trading Signal USDJPY

  • On the daily timeframe, notice that a symmetrical triangle formation is happening.
  • Notice that the overall trend is also up.
  • So if price breaks the upper trendline, expect it to continue moving upwards.
  • If price comes down and hits the lower trendline, you should be looking to buy.

Forex Trading Signal USDJPY Daily Timeframe

  • Now… to fully understand the big picture in USDJPY, you need to  see the monthly chart below.
  • Notice that there is significant resistance level (circled) where price reacted to that level on a previous occasion and you can now see the price is heading up to it.
  • Expect some bearish reaction there if price goes up and hits this resistance level.

Forex Trading Signal USDJPY Monthly Timeframe

#7: Forex Trading Signal  USDCAD

  • Similar to the USDJPY monthly chart above, there is also a resistance level which you can see on USDCAD chart below.
  • This is not going to form this week, this is something that can form this month or next but just be aware of this setup that is happening.

Forex Trading Signal USDCAD Monthly Timeframe

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One Response to “Forex Trading Signals For 2nd to 6th March 2015”

  1. John W Allen says:

    thanks

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