[FOREX TIP] GBPJPY Free Forex Trading Signals – 13th March 2017

GBPJPY has been bearish on the H4 chart. The pair has been trying to push the price further down after making a good bearish move from an important resistance level. As things stand with the pair, we might get an opportunity to sell the pair with excellent risk and reward ratio. Let us have a look at the chart.

GBPJPY Free Forex Trading Signals – 13th March 2017

 

The pair made a huge Engulfing H4 bearish candle from 140.400 and then produced another bearish H4 candle. The price came up to 139.460. Then, we had 3 consecutive corrective H4 candles. The price already had a rejection from 139.860. This is an important level of resistance as well. If this level of resistance is held and we get a breakout at 139.460, then selling the pair would be the best option.

Let us have a look at the summary of the trade

• Sell Stop Order: 139.460
• Stop Loss Level: 139.860
• Take Profit Target: 138.875

This week main two currencies the USD and the EURO are going to have some extremely high impact news events. Thus, the pairs that are not correlated with the EURO and the USD would be more active. GBPJPY is a pair, which is not directly related to the EURO and the USD. Thus, the pair has already shown some movements to offer us entries. When a currency pair is about to face a very high impact news event, the pairs that are directly correlated with it, seems to get sluggish. On the other hand, other pairs that are not directly correlated with it, seems to be more active. This is important information that a Forex trader should be aware of.

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:  GBPJPY Free Forex Trading Signals – 13th March 2017

The post GBPJPY Free Forex Trading Signals – 13th March 2017 appeared first on Advanced Forex Strategies.

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[FOREX TIP] AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017

AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017

The AUDUSD technical pattern remains bearish. Although we got a weekly close above the big round number 0.7500, AUDUSD is still correcting the cycle from December low. We can still see a retest of the 0.7600 resistance level before the downside can resume. A break and a close below 0.7500 can open up the door for a retest of the 0.7450 support level. The stochastic indicator is still not yet in oversold conditions so we might see early in the week more strength.

The only big risk event for the AUDUSD exchange rate is the Australian Unemployment rate. The unemployment rate unexpectedly eased to 5.8% sending mixed signals about the Aussie labor market. The fundamentals don’t yet support the AUDUSD exchange rate at current level, which is the reason why we remain cautiously bearish.

Previous AUDUSD Weekly Forex Forecast

AUDUSD Weekly Forex Forecast – 13th to 17th Mar 2017

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[FOREX TIP] USDCAD Weekly Forex Forecast -13th to 17th March 2017

USDCAD Weekly Forex Forecast -13th to 17th March 2017

The USDCAD was unable to close above the 1.3500 big psychological number which can be the signal that we’re in the process of correcting the cycle from January low. Based on the Elliott Wave theory, we have completed a 5 wave sequence to the upside which needs to be followed by at least 3 wave pullback. Early in the week, we can see USDCAD to challenge the previous week high before retesting 1.3350 support levels. A break and a close below this level will open up the door for a retest of the support level 1.3212.

The stochastic indicator is already in oversold territory which favors our view of an earlier retest of the previous week high or at least a period of consolidation before any real move to happen. The Canadian economic calendar looks mild but there are plenty of proxy risk events that can alter the USDCAD volatility. The Fed rate decision is the biggest risk event coupled with the US debt ceiling. Recent developments in the energy sector can posses a threat to the Canadian Dollar exchange rates.

Previous USDCAD Weekly Forex Forecast

USDCAD Weekly Forex Forecast -13th to 17th March 2017

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