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Thread: macd divergence

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    Piplet
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    Default macd divergence

    Hey guys do you see what i am seeing? MACD divergence on gbyjpy 1 hr chart. I am seeing a bearish divergence and i am pridicting a sell of is about to happen pretty soon.
    Check out last week's wednesday's high and the high of today. compare them with the highs of the MACD histogram and you will see a definite bearish divergence. The market may continue to go up for a while, but pretty soon, watch for a reversal, the u'll know the down trend has started.

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    GBP/JPY: Monitoring Choppy Uptrend

    Daily and 4H: The GBP/JPY remained bullish as anticipated in last week's post. In the 4H chart, you can see that it has been retracing 78.6% of upswings approx. 350 pips each. The market is now again testing the 78.6% retracement of the most recent upswing.

    The stochastic this time is not oversold. The declining stochastic in the daily also reflects a struggle to reach the 153.00 resistance. This week's action did not invalidate the outlook, but surely weakens its possibility. The pairs choppy action reflects this week's subdued risk sentiment.

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