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Forexpros Daily Analysis - 22/11/2010

Discussion in 'Forex Daily News & Outlook' started by forexpros2, Nov 22, 2010.

  1. forexpros2

    forexpros2 Member

    Oct 20, 2009
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    ForexPros Daily Analysis November 22, 2010

    Free webinar on ForexPros - How to trade during volatile markets

    Expert: Nour Eldeen M. Al-Hammouri

    Start: Tue, Nov 30, 2010, 10:00 ET
    End: Tue, Nov 30, 2010, 11:00 ET

    In this webinar we are going to give you some simple strategies and indicators which can help daily traders to profit from volatile markets. And we will talk about VIX chart and how it is an indicator for USDX bullish patterns

    Click here to join free


    Forex Analysis GBPUSD

    1) Forex Trading Signal For GBPUSD

    Forex Trend Analysis

    The trend for GBPUSD this week seems to be bullish (UP)

    Forex Technical Analysis

    Weekly Chart
    The price continues to make higher high which is a sign that the trend is moving up recently. There is a chance that the price will hit the 1.7700 level to fulfil its Gartley pattern run.

    Daily Chart
    The price forms a symmetrical triangle on this time frame. As the trend is up, there is a high chance that the price will break above the triangle.

    4 Hourly Chart
    On the 4 hour chart, the price continues to move within a trend channel which is a sign of consolidation after a period of upmove.

    Overall Forex Analysis
    I will look for LONG trade once the price breaks above the trend channel on the 4 hour chart or triangle on the daily chart.


    Forex Trading analysis written by Kelvin Lee for Forexpros.


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