EUR/USD is trading at lower ground. After some dollar weakness and hopes for a positive outcome in the French elections, the tables have turned. However, will the euro rise now? A fresh opinion poll from France shows Marine Le Pen losing ground to centrist Emmanuel Macron. It is now 26% against 25%, closer than 27% to [...]
The post EUR/USD on the back foot as French polls tighten, renewed USD strength appeared first on Forex Crunch.
Pound/dollar is trading at 1.2207, the lowest level since January 17th. At that time, the US dollar was at its strongest and Theresa May laid out her Hard Brexit vision. The pair was trading at the 1.24 handle and a bit around this level for a few weeks but has deteriorated to lower ground. What [...]
The post GBP/USD at the lowest since mid-January – 3 reasons appeared first on Forex Crunch.
The Reserve Bank of Australia left the interest rate unchanged at 1.50% as widely expected. And also the accompanying statement seems somewhat unchanged. While they do mention that a stronger A$ could complicate matters, this is the same text that we have seen beforehand. Among the positive notes: the economy is doing OK and stronger global [...]
The post RBA sits on its hands – AUD/USD rises appeared first on Forex Crunch.
USDJPY was bullish in the last week. However, the price failed to break a key resistance zone. The pair then produced a huge Engulfing H4 bearish candle from that zone. As things stand with the pair, the price might go towards the South if we get a breakout at the current support level. Let us have a look at the chart to find out, where the breakout should take place to offer us short entry…
USDJPY Free Forex Trading Signals – 7th March 2017
As we can see that, the pair produced that Engulfing candle from 114.550 area. Then, it came up to 113.575 to find its support. The price has been on consolidation. The level of 114.080 has been the resistance so far. We already have had H4 reversal candles at that level as well. If we get an hourly breakout at 113.575, then we should sell the pair by setting our stop loss at 114.080. An H4 breakout would be even better.
Let us have a look at the summary of the trade
Last week, we were eyeing on USDJPY to buy right from the zone that I have marked here. We were waiting for a bullish breakout then. However, this time we are eyeing to sell the pair. In fact, we are going to wait for a bearish breakout here. This is why there is a saying “Trend is your friend until it bends”. It seems the trend here has bent. We will get the confirmation upon a bearish breakout. Let us patiently wait to see what happens next.
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: USDJPY Free Forex Trading Signals – 7th March 2017
The post USDJPY Free Forex Trading Signals – 7th March 2017 appeared first on Advanced Forex Strategies.
