In a short 4.5-page testimony, Fed Chair Janet Yellen makes hawkish sounds, saying that the committee will evaluate the situation and perhaps raise rates in one of its upcoming meetings. Three rates hikes are possible with and in line with Fed forecasts. . Yellen sees the jobs market with rosy glasses: wages are rising in jobs growth [...]
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The euro-zone grew at a quarterly rate of 0.4%, lower than 0.5% originally reported. Other figures have been disappointing as well: industrial output dropped by 1.6%. The German ZEW economic sentiment slid all the way to 10.4 points and the current conditions components fell to 76.4 points. EUR/USD is sliding towards 1.0610, but not going very far. The [...]
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Inflation in the UK is slightly cooler than markets had anticipated. Prices dropped by 0.5% m-m as projected, but the y/y numbers are a miss. CPI is up 1.8% and core CPI remained stuck at 1.6%. GBP/USD, which was already sliding, extended the falls and hit a new low of 1.2483. Here is how it looks [...]
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The Australian dollar is moving up within current ranges, edging closer to the 0.77 level as it gets some tailwinds. Can it make a move and challenge the next resistance levels? These are 0.7740 and 0.7840. Here are the three most recent drivers of AUD/USD: Australian confidence: The NAB Business Confidence measure jumped from 6 to [...]
The post AUD/USD moves higher in range – 3 reasons appeared first on Forex Crunch.
The trade deficit in the U.S. shrunk in December compared to the previous month, exceeding half a trillion dollars for the whole of 2016, something which the U.S. President Trump has vowed to narrow by boosting economic growth domestically. The U.S. foreign trade gap for goods and services fell 3.2% in December to a seasonally [...]
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Germany, the largest economy in Europe, saw a growth rate of 0.4% q/q in Q4 2016. Year over year, the growth rate was 1.7%. While this is faster growth when comparing to Q3, the numbers fall short of expectations, which were 0.1% higher. In addition, the growth rate for Q3 was revised down from 0.2% to [...]
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EURNZD took a journey towards the North on the H4 chart last week. Then, the price came back to 1.47300 to make a support level. This is an important level since it was a huge resistance earlier. The price already has shown reaction to the level. There is a high chance that if we get an H4 reversal candle at this level again, then we will be able to take long entry on the pair. Let us have a look at the H4 chart of EURNZD…
EURNZD Free Forex Trading Signals – 14th Feb 2017
As we can see that, the pair changed its H4 trend from the level of 1.45300. The price went up to 1.48500, and then started having corrections. The level of 1.47300 seems to be the support so far since the pair already produced an Engulfing H4 candle. If we get another H4 reversal candle at that level or at that zone, it would then be considered as a Double bottom. Thus, buying from that level upon an Engulfing H4 candle, or an Engulfing H1 candle (in case of Inside bar H4 or Doji H4), should get us some green pips with excellent risk and reward ratio.
Let us have a look at the summary of the trade
As a reversal candle, Engulfing candle is the best one. This is how traders can read out the market sentiment easily. If we get a Doji candle or an Inside bar, then we must wait another candle of its lower time frame. It means that if we trade on the H4 chart, we wait for an Engulfing H1 candle; if we trade on H1 chart, we wait for an Engulfing M15 candle towards the trend direction.
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: EURNZD Free Forex Trading Signals – 14th Feb 2017
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