[FOREX TIP] USDCAD Free Forex Trading Signals – 24th April 2017

USDCAD had a bull ride in the last week on the H4 chart. The price got rejected from a massive level of resistance. By looking at the H4 chart, it seems that the bullish H4 Trend line has been broken and held by the price. These suggest that USDCAD sellers might take the control soon on the H1 and H4 chart. Let us have a look at the H1 chart of USDCAD.

 

The level of 1.34980 has been working as today’s resistance. The price has already made 3 consecutive bearish candles from the level. If the price continues to go down by making a breakout at 1.34590, then there is a lot of space for the price to head towards the South. This will attract the seller on USDCAD to sell off the pair later today.

USDCAD Free Forex Trading Signals – 24th April 2017

Let us have a look at the summary of the trade

• Buy Stop Order: 1.34590
• Stop Loss Level: 1.34980
• Take Profit Target: 1.35960

If the price makes a breakout by keep going down from where it is now, then it might take some upward corrections after the breakout. This means the price might come back to the breakout level or near to the breakout level again. On the other hand, if the price makes correction before the breakout, then taking the entry on the breakout would be the best option. The price might not have any upward correction then. In both cases, Take profit and stop loss levels remain as they are now.

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: USDCAD Free Forex Trading Signals – 24th April 2017

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Market favorite Macron is now leading the real vote as well as the exit polls. As the centrist cements his lead, it is time to look at the bigger picture for the common currency. EUR/USD is already reacting positively in early trading. The pair is trading just above 1.09 as trading volume remains thin. It [...]

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Two hours after voting has closed and the projections first leaked by the Belgian press and then by exit polls looks real. The run-off on May 7th will see centrist Emmanuel Macron vs. extreme-right Marine Le Pen. EUR/USD was shooting higher in very early trading above 1.09. Now we already have more trading desks open, and the pair continues [...]

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Exit polls in France show Macron winning the first round with Le Pen accompanying him in the second place. Other candidates are behind with 19.5% each. While Le Pen could surpass Macron, it is hard to see any of the candidates in third place pushing Macron out of the second round. We reported that EUR/USD should [...]

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According to the exit polls, Macron leads with 23.7%, Le Pen with 21%. Well behind, Fillon and Melenchon are tied with 19.5%. French exit polls are relatively reliable as they use real data. It seems that neither Fillon nor Melenchon can beat Macron and push him out of the second round. This is a favorable result for markets. EUR/USD should [...]

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 24th to 28th April 2017

AUDUSD Weekly Forex Forecast – 24th to 28th April 2017

The AUDUSD is continuing to trade above the 0.7500 big psychological number and as long as we stay above it on a daily basis, we should expect the Aussie to resume higher for another attempt to break the highs. However, a break below 0.7500 will open up the door for a possible retest of 0.7400 and possibly even 0.7300 support level. To the upside, the first level of resistance only comes at 0.7587 followed by 0.7610 and 0.7630. The stochastic indicator is already in an oversold condition and if we were to continue to move to the upside expect AUDUSD to have minor pullbacks that should be quick bought.

The Australian economic calendar looks quite busy, with plenty of risk events that can disrupt the volatility. On Wednesday, we have the Australian CPI inflation figures which are expected to inch one tick higher to 0.6%, while the annualized rate is expected to come in at 2.2% high is positive for the interest rate speculations. On Thursday the RBA Governor Lowe is due to speak at the Renminbi Global Cities Dialogue Dinner, in Sydney. While Friday we have as a proxy risk event the estimated USA GDP figures for the first quarter of the year.

Previous AUDUSD Weekly Forex Forecast

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[FOREX TIP] USDCAD Weekly Forex Forecast – 24th to 28th April 2017

USDCAD Weekly Forex Forecast – 24th to 28th April 2017

The USDCAD strong rally looks corrective in nature and the fact that we couldn’t close above the big psychological number 1.3500 can be a negative sign for the bulls. We’re also trading below 1.3533 March’s high and only a daily close above it can really signal a shift in the trend. Below the current market price, we have the 1.3450 followed by 1.3417 acting as intraday support levels.

The stochastic indicator is already in extreme overbought conditions and a pullback should happen sooner rather than later. If the sellers gain traction we can even see 1.3340 support level retested. The Canadian economic calendar will bring on Wednesday the Retail Sales figures followed by US Crude Oil Inventories. Thursday we have as a proxy risk event the US Core Durable Goods while Friday will bring Canada’s monthly GDP figure.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast – 24th to 28th April 2017

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[FOREX TIP] GBPUSD Weekly Forex Forecast – 24th to 28th April 2017

GBPUSD Weekly Forex Forecast – 24th to 28th April 2017

The GBPUSD has managed to break to new 2017 year highs. The old 1.2700 resistance level should now act as a new support level. The close above 1.2700 has opened up the door for a retest of the 1.3000 big psychological number from where we can expect the cycle from the January low to correct. Short-term there is a possibility of more consolidation, however, the stochastic indicator is still not in overbought conditions and this is why we can expect first to see a break above 1.2905 last week high.

Usually, when we get near big round numbers there is always first a reaction from these levels before we finally break them. And GBPUSD has intraday resistance at 1.2960 from where it can reach lower and get back inside the previous week range. The only notable risk event coming out from the UK economic calendar is the Preliminary GDP figure for the first quarter of the year. The UK economy is expected to grow at a slower pace, down from 0.6% to 0.4%, while the annualized rate is expected to come at 2.2%. The ongoing debates over the UK snap election will also have a significant threat to the GBP/USD exchange rate.

Previous GBPUSD Weekly Forex Forecast

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Rather than having to crawl through the news to get the latest updates happening in the world of Forex, listening to a podcast while at the gym or commuting your way into the office can be a much more convenient way to get your daily dose. Podcasts are often far more entertaining as it’s more [...]

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