[FOREX TIP] USDCAD Free Forex Trading Signals – 7th Feb 2017

USDCAD seems to be bullish after breaking the down trending Trend line. The pair has produced a huge engulfing H4 candle at 1.30100. Then, the price is heading towards the north. Today’s price action suggests that the pair might offer us long entry later today. Let us have a look at the H4 USDCAD chart.

USDCAD Free Forex Trading Signals – 7th Feb 2017

Look at the big H4 engulfing candle at 1.30100. Then, there is another H4 bull candle. The price then started having correction. It has found the support at 1.30750. An engulfing H4 candle is being produced as it looks. If we get an H4 breakout at 1.31150, then we should wait for an H1 candle to cover the higher high of that breakout H4 candle to take long entry. Nearest strong resistance is at 1.32270, which means there is enough space for the buyers to be with their long entries.

Let us have a look at the summary of the trade

• Buy Stop Order: $1.31150
• Stop loss Level: $1.30750
• Take Profit Target: $1.32270

There is a saying in the Forex market that “Cut your loss short and let your profit run”. As a trader, we have to learn the art of doing that. It is easier said than done though. However, one way to do is choosing our trading pair wisely. One that offers more reward over the risk has more chance to give us more pips than we have thought initially. In this case, we can cut our partial trade and take out some profit to let the rest of the trade run and get us more pips. On the other hand, when a trade goes against us, we must come out as soon as we can with our whole entry.

Comment below if you have questions on this trade and please let us know if you made money if this trade signal. 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: USDCAD Free Forex Trading Signals – 7th Feb 2017.

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[FOREX NEWS] EUR/USD slips ahead of Draghi’s testimony

ECB Mario Draghi will take the stage at Brussels, testifying before the European Parliament. His public appearance comes as euro-zone data has certainly been on the mend. Inflation, the ECB’s “single needle in the compass”, or only mandate, has climbed up to 1.8%. This is not only stronger than economists had anticipated, but also matches the [...]

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[FOREX TIP] AUDUSD Free Forex Trading Signals – 6th Feb 2017

AUDUSD has been up trending on the H4 chart. The pair has found a strong resistance level at 0.76950. However, today’s price action suggests that the pair might break the level and head towards the north. Let us have a look at the H1 chart.

AUDUSD Free Forex Trading Signals – 6th Feb 2017

This is H1 chart. As we can see the massive H1 engulfing bull candle and then two consecutive bull candles failed to break the level of 0.76950. The price then has been having correction. Here the level of 076570 has worked as a support. If we see a good bullish move from this level and the level of 0.76950 gets broken, then we wait for the price to come back at the breakout level to take long entry on the pair upon an hourly reversal. It is a long way to go, but this is one of the most rewarding trading patterns in the Forex market.

Let us have a look at the summary of the trade

• Buy Stop Order: 0.76950
• Stop Loss Level: 0.76570
• Take Profit Target: 0.77780

As you can see that, the risk and reward ratio is fantastic on this pattern, so the market has the tendency to make an abrupt move on the trading wave. Thus, if we are to take entry we have to be able to think quickly and determine whether there is a solid signal to take an entry or not. It needs a lot of practice. If there is any doubt; leave it out. Get some practice on your demo account and be a master at it. You will surely love to trade on this pattern (ABC pattern) once you learn the art of trading on ABC pattern.

Comment below if you have questions on this trade and please let us know if you made money if this trade signal. 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: EURUSD Free Forex Trading Signals – 1st Feb 2017.

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