Below is the forex trading technical charts report for 04-Oct-2017.
I’ve taken major currency pairs technical charts into consideration using my favorites technical indicators – I’ve used Doda Donchian, Doda-Bollinger Bands, Ichimoku and ADX Candles in this chart. Time frame used is H4.
EURUSD Technical Chart
After touching low of 1.17019 yesterday, it started moving little upwards and now, it has given buy signal @1.17710. But beware, it is a FALSE signal as the currency pair is still trading below Ichimoku cloud and Doda Bollinger bands indicator.
Wait for either it crosses cloud – which will take few trading sessions or wait for next short sell signal. Till then, sit on cash.
Support for today at : 1.17120, 1.6953, 1.16682
Resistance for today at : 1.17662, 1.17829, 1.18100
GBPUSD Technical Chart
GBPUSD currency pair gave a profit of 110.8 pips after giving sell signal @1.33768 and is moving sideways. Book profit at this stage and take another short sell call if it closes below 1.32214, which is its previous low. Do not take any long call at this stage.
Support for today at : 1.32232, 1.32079, 1.31832
Resistance for today at : 1.32727, 1.32880, 1.33128