[FOREX NEWS] German PMIs mixed – EUR/USD wobbles

Markit’s manufacturing PMIs for Germany beat early estimations by hitting a score of 56.5. However, the services sector came out at 53.2 points, below expectations. The composite is slightly lower than forecast. EUR/USD holds its ground and does not go very far in the immediate aftermath. The first purchasing managers’ indices from Germany were expected to remain in [...]


via Forex Crunch

[FOREX TIP] GBPCAD Trading Signals – 24th Jan 2017

GBPCAD has been on a strong bull trend on the 4HR chart. Having made a double bottom, the produced a huge engulfing 4HR candle. In fact, that candle has set the tone. The trend seems strong still and has the potential to go further up. Let us find out what the potential move would look like and how we would ride on the trend.


Have a look at the 4H GBPCAD chart.

GBPCAD Free Forex Trading Signals – 24th Jan 2017

The support line of the double bottom is an up trending Trend line. Then, the pair produced the huge engulfing candle and continued to go up for 2 more candles. Having corrections for some candles, the price has continued to go up and kept making higher high. The price went up to 1.66150 yesterday. Now the price is having correction. The level of 1.65100 might act like the support. If it really does, then we should wait for a 4HR reversal candle on the support zone and a breakout at the level of 1.66150 to go long on the pair.


Let us have a look at the summary of the trade

• Buy Stop Order: 1.66150
• Stop loss: 1.65100
• Take Profit Target: 1.69475

On today’s chart 1.65100 should act as the support zone. There is a difference between support zone and support line. When price produces the reversal candle and a trending candle after that, we can determine the line. On the other hand, if we wait for the price to make corrections and the reversal candle, then we have to assume the support zone. Support zone could produce a reversal candle from bit further up or down. Here is a thing though, if a reversal candle is produced from too far up or down, then we might as well not consider that as our reversal candle that we wait for.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Free Forex Trading Signals – 24th Jan 2017

from Advanced Forex Strategies

[FOREX TIP] GBPJPY Trading Signals – 23rd Jan 2017

We are on the last week of the first month of 2017. Most of the pairs have been quite. However, on some pairs the initial trend-making move has been established. GBPJPY is one of the pairs, which looks good to go further up as far as the 4HR chart is concerned.

Let us have a look at the GBPJPY 4HR chart.

GBPJPY Free Forex Trading Signals – 23rd Jan 2017

The pair made a huge bearish move on the 4 hourly chart as we can see. Then, there was a huge price gap. To cover the gap, the pair made an engulfing 4HR candle. To go with it, there has been a double bottom as well. This means, the pair is set to go further up. Have a look at the consolidation. So far, the level of 140.860 has been the support of the consolidation.

If the level of 140.860 produces an engulfing 4 hourly candle, and we get a break out at the level of 142.020, then buying the pair would be the best option.

Here is the trade summary…

• Buy Stop order: 142.020
• Stop loss Level: 140.860
• Take profit Target: 145.300

Good luck!

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: GBPJPY Free Forex Trading Signals – 23rd Jan 2017



Tip of the day:
This trade is based on the 4HR chart. If you are an intraday trader, then you might as well use a smaller lot than the usual lot. Moreover, be patient with your running trade. Do not come out with some profit. Since the target is a long way for the price to go, so it will take time. It needs practice to go along all the way, which means you have to be patient. As a Forex trader, you have to learn the art of being patient to be successful in the end.

from Advanced Forex Strategies