The impact of the Federal Reserve’s dovish hike (see 5 dollar downers) continues to hurt the US dollar, especially against the majors. More specifically for USD/JPY, often a bellwether for the wider US dollar trend, the risk-off sentiment has its impact as well. The S&P 500 is extending its losses, which exceed 1% at the [...]
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Nearly a week after that “dovish hike” from the Federal Reserve, the US dollar continues reeling. That decision had five dollar downers which continue echoing. But looking more in detail, the greenback is suffering against some currencies more than against others. Here are quick updates. EUR/USD: The world’s most popular currency pair is settling above [...]
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Higher than expected inflation in the UK. Month over month CPI rises by 0.7%, pushing the year over year CPI to 2.3%. GBP extends its gains. The UK was expected to report a rise of 0.5% m/m and an acceleration of the y/y price rise to 2.1% in February from 1.8% in January. Core CPI carried projections [...]
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Foreign exchange analysis is utilized by retail forex day traders to determine whether to sell or buy a currency pair at any point in time. Foreign exchange analysis could be technical in nature, such as using charting tools, or fundamental, using news-based events and /or economic indicators. The day trader’s currency trading system use analysis [...]
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A three-hour+ long televised debate (#LeGranDebat) encompassed a wide variety of topics concerning French voters. Emmanuel Macron, the young, former socialist that is running independently on a centrist platform, seems to have come on top. Opinion polls held immediately after the event ended showed he edged out his rivals. This is crucial for him. He is not [...]
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Most of the pairs in the Forex market have been in a range after the last FOMC event. As things stand, the pairs might take some time to take their directions and offer us entries. Among them, AUDCAD looks good to offer us a long entry. The pair has been on a bullish trend and has had some corrections already. Let us find out the levels that we need keep our eyes on to take the long entry on AUDCAD.
AUDCAD Free Forex Trading Signals – 21st March 2017
As we can see that the pair has kept making higher highs from the level of 1.01280. The level is a Double bottom level as well. The price went up to 1.03285 yesterday. Then, it has been having correction. Here the level of 1.02850 has the potential to be a level of support. If this level is held and we get an H4 breakout at 1.03285, then buying AUDCAD should be a good option.
An H1 breakout after getting an H4 reversal candle would be valid for the trade set up as well.
Let us have a look at the summary of the trade
This trade setup is based on ABC trading pattern. This is a reliable pattern, but we have to be immaculate on setting our Take profit. Price often takes opposite direction after hitting the take profit level. Traders are advised that they should be aware of the spread of a pair at the time of setting their Take profit while trading on an ABC trading pattern.
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: AUDCAD Free Forex Trading Signals – 21st March 2017
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