According to exit polls after voting ended at 20:00 GMT, the extreme-right Freedom Party (PVV) led by Geert Wilders will receive only 19 seats in parliament. This is far behind the mainstream Liberal Party (VVD) led by incumbent PM Mark Rutte which is on track to receive 31 seats. Boost for mainstream, no demand for populism more coming
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The Fed raises rates, leaves dot plot at 3 hikes Dollar falls The Federal Reserve made it clear that it is about to raise interest rates in March. The bigger question is: what’s next? (See the full Fed preview) The dot-lot, new forecasts, the FOMC statement and the press conference by Fed Chair Janet Yellen [...]
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Inflation and retail sales data for February leave the stage open for the Fed. Most data comes out as expected: core CPI is 2.2% y/y as predicted. Retail sales are up 0.1%, core sales are up 0.2% and the retail control group is up 0.1% a small miss. There are upwards revisions to retail sales numbers. [...]
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The Federal Reserve meets at the Ides of March to deliver its rate hike after providing us with a more-than-clear message. But what’s next? And how will the currency markets react to this highly anticipated event? This page features every related update: from the background, the previews, the actual news and the long aftermath:
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Britain reported a drop of 11.3K in the number of the unemployed, but the wage data is worrying and has the upper hand. Average earnings have slowed to an annual rate of 2.2%. Excluding bonuses, salaries are down to 2.3% y/y. Both are disappointments. The unemployment rate dropped to 4.7% in January, but markets focus on [...]
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GBPCAD has been in a range. However, the pair seems to have found its support at a Double bottom level. As things stand with the pair, it might offer us long entry according to the H4 chart…
GBPCAD Free Forex Trading Signals – 15th March 2017
As we can see that, the pair had its support from 1.63300. This is actually a Double bottom level. In fact, the price got bounced twice from there recently. The price then went up to 1.64050. Then, the price has been on consolidation. The level of 1.73700 seems to be the 2nd support of the move. Now if we have an H4 breakout right from this level, then buying the pair would be the best option. An hourly breakout should work here as well. Nevertheless, an H4 breakout would be the best considering today’s expected volatility.
Summary of the trade…
Today the Forex market has some massive events to face. FOMC statement, Federal Fund Rate, FOMC press conference to be held later today. Today’s market can be very shaky. Thus, traders should be careful with the already opened positions as well as the positions that they are going to take before FOMC’s events. The best thing to do would be waiting for the events’ affect to get over. If traders get a trading signal after these news events, then they should take their positions. If traders get a signal earlier than the news events, then they should make sure that they take bit smaller lot than they usually take. Another thing they should be aware of that taking intra day positions would be very risky today. The market might get sluggish in the next 10/12 hours.
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 – 15th March 2017
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