While a hawkish Fed boosts the USD higher, one currency stands out against this storm, and that is the Australian dollar, holding its ground and not retreating. The Aussie has two good reasons to rise. The economy grew by 1.1%, in Q4 2016, much stronger than 0.8% expected. It is also a big bounce from [...]
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GBPCAD has been bullish today as well. We predicted that the pair would go towards the North yesterday. The pair did move as we had predicted. The way the price has been on the consolidation today, it seems that the pair might make another move towards the North. This time it would be a bigger move than the yesterday’s move. Let us have a look at the H4 chart of GBPCAD.
GBPCAD Free Forex Trading Signals – 1st March 2017
The pair made a huge Double bottom and produced 2 consecutive Daily bullish candles. Yesterday’s bullish move found the resistance at 1.64985. Then, the price has been on consolidation. The level of 1.64500 seems to be the support here since the price did find its resistance on its last bearish move. If the level of 1.64500 produces an H4 reversal candle and then we get an Hourly breakout at 1.64985, then taking long entries on GBPCAD would be the best option as far as the H4 chart is concerned.
Let us have a look at the summary of the trade
We saw the first move of a trend on GBPCAD yesterday. That offered us 1:1 risk and reward ratio. Today, I am anticipating its 2nd move. This is going to offer us 1:2 risk and reward ratio. This attracts more traders to take entries on a pair. I strongly believe if we get that reversal candle and the breakout, then the price would not have to struggle to reach at our Take profit level.
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: GBPCAD Free Forex Trading Signals – 1st March 2017
The post GBPCAD Free Forex Trading Signals – 1st March 2017 appeared first on Advanced Forex Strategies.
The US dollar is on the rise, with EUR/USD back at the 1.05 handle, USD/JPY around 113.50 and GBP/USD under 1.24. This was no quiet Asian session. The main event during the session was President Trump’s highly anticipated speech to Congress, but the Federal Reserve stole the show. In particular, New York Fed President Bill Dudley, [...]
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President Trump gave a much anticipated address to a joint session of Congress. The speech was tilted heavily towards nationalism. But what are the market implications? Here is their view, courtesy of eFXnews: Markets have been hungry for more details surrounding President Trump’s legislative plans, but his speech to a joint session of Congress didn’t provide [...]
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The Conference Board’s measure of consumer confidence beat expectations for February and reached a high of 114.8 points. This is a leap of 3 points from an upwards revised 111.8 number in January. The underlying components regarding the current conditions (133.4 points), as well as expectations (102.4), are also up. Nevertheless, the US dollar does not count it [...]
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The upbeat durable goods orders for December did not help. US GDP was left unchanged at 1.9%. Consumer spending is up to 3% and the PCE and the deflator are moving up, so there are some silver linings. The goods trade deficit widens to $69 billion. The US dollar is falling with EUR/USD topping 1.06. [...]
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Ahead of his highly anticipated speech in front of a joint session of Congress, President Donald Trump gave an interview in his friendly media outlet, Fox News. Trump talks about income coming from a “revved up” economy that will pay for his planned defense expenditure. Yesterday he talked about having to make cuts in order to pay [...]
The post USD: Trump does not provide boost on Fox but Fed hike odds rise – dollar looks down appeared first on Forex Crunch.
Speaking to the parliamentary committee last week at the inflation report hearings, the Bank of England Governor, Mark Carney defended the central bank’s monetary policy. He said that the central bank would not hesitate to change monetary policy if it was appropriate. The comments suggested that the central bank continues to remain on the sidelines [...]
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