The Fed convenes after raising rates last time and as Trump makes his dent in the Oval Office. What can we expect? Here is their view, courtesy of eFXnews: We expect the FOMC to keep the federal funds target unchanged at 0.50-0.75% at the conclusion of the 31 January –1 February meeting. The data on economic [...]
The post USD: Expect These Few Changes From The FOMC On Wed – Nomura appeared first on Forex Crunch.
The US dollar is on the back foot, with EUR/USD touching 108 and USD/JPY breaking support. Here is their view, courtesy of eFXnews: President Trump’s travel ban – and his associated decision to fire the acting Attorney General – dominates sentiment and remains good for Treasuries, the yen (and gold), but bad for bonds and [...]
The post How Far Can The Dollar Fall S/T? What Is The Trade? – SocGen appeared first on Forex Crunch.
The CB Consumer Confidence misses expectations with a score of 11.8, less than 113 forecast. In addition, the previous number was downgraded from 113.7 to 113.3 points. This is still a high score but the winning streak is cut short. The US dollar was already sliding ahead of the publication, and this release sends EUR/UDS to [...]
The post US Consumer Confidence misses expectations – EUR/USD touches 1.08 appeared first on Forex Crunch.
The Canadian economy grew by 0.4% in November, better than 0.3% expected and top of an upwards revision for October: a slide of 0.2% instead of -0.3% initially reported. USD/CAD fell to a new low of 1.3041. Can it make a move on the round 1.30 level? This is the next line. Canadian producer prices are [...]
The post Canadian GDP beats with 0.4% m/m – USD/CAD falls appeared first on Forex Crunch.
The euro-zone published its initial CPI estimate for January as well as its first GDP print for Q4 2016. Headline inflation was expected to rise to an annual level of 1.6% in January up from 1.1%, mostly the effect of oil prices. Core inflation carried expectations The unemployment rate was projected to remain unchanged at 9.8%. EUR/USD was relatively stable [...]
The post Euro-zone inflation leaps to 1.8% – EUR/USD ticks up appeared first on Forex Crunch.
GBPCHF had a huge bullish move on the H4 chart. However, the price seems to have broken the bullish Trend line. The pair now looks bearish. Let us have a look at the GBPCHF H4 chart….
GBPCHF Free Forex Trading Signals – 31st Jan 2017
The pair started having a bearish momentum from the level of 1.26400 and produced a huge bearish H4 candle from the level of 1.25350. Then, the price started having correction from the level of 1.24040. So far, the pair has produced two H4 corrective candles and the level of 124.520 has acted as the level of support.
If the level of support produces an H4 reversal candle, then we should look for a breakout at the level of 1.24040 to take short entry. The nearest strong level of support is at 1.23200. That is where we should set our Take profit. This means it gives us 1:2 risk and reward ratio.
Let us have a look at the summary of the trade
To understand reversal candle, one has to learn Japanese candlestick pattern. There are many reversal candles such as Inside bar, Engulfing bar, Doji, Pin bar. Once a trader understands these patterns and be able to integrate with Support/Resistance, then the idea of taking entries, exit get much easier. There are some excellent articles, videos on Japanese candlestick pattern on the Internet. Study with those and learn them well. If you still have anything else to know about Japanese candlestick pattern, feel free to contact with us. We will be glad to help you out.
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: GBPCHF Free Forex Trading Signals – 31st Jan 2017
The post GBPCHF Free Forex Trading Signals – 31st Jan 2017 appeared first on Advanced Forex Strategies.
