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How Do Forex Robots Actually Work?

What’s this about trading robots? Do they work? Are robots bad? Many questions are those that usually roll in the head when you hear...

Are Free Forex Signals Really Reliable?

A trading signal is a short message that you might receive via email, text message, alert notification, tweet, or other communication methods. The message contains information about making a trade and is meant to aid traders and might mention a specific time and price to enter a trade on a currency pair. 

USD/JPY Double Top Pattern Set to Drive Selling – Signal Update! 

The USD/JPY pair is trading with a bullish bias at 104.350, and violation of this level is likely to lead the USD/JPY pair until the 104.745 level. On the lower side, the USD/JPY may find support at the 104.198 level. We can expect USDJPY to bounce off upon the 104.198 level today. On the 4 hour timeframe, the USDJPY pair is likely to close a doji candle below 104.368 level. If this happens, we may see a bearish correction in the USD/JPY pair. 

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The Trader’s Guide to Buying Forex Signals

There are many reasons one could start looking for these, even though you are also learning or are already an experienced forex trader. You...

Gold Violates Triple Top Pattern – Quick Update on Buy Signal! 

The yellow metal gold prices surged above $1735 and continued its two days upward rally and posted gains for 3rd consecutive day. The demand for the safe-haven asset increased at the end of the week due to increased uncertainty in the market after the comments of the chairman of the Federal Reserve & the President of the United States on Friday.

XAU/USD Trades Bullish Amid Trade Tensions – Update on Sell Signal! 

The yellow metal gold traded sharply bullish to hold around 1,720 area. Most of the buying in gold was safe haven driven, leading the gold prices towards the highs of 1,726. Below this, the XAU/USD is likely to close a doji candle, which suggests odds of bearish bias retracement in gold.

EUR/GBP Downward Channel to Provide Sell Opportunity! 

On the 4 hour timeframe, the EUR/GBP pair is trading with a selling bais at 0.8850 level, facing immediate support at 0.8825 level. On the lower side, the EUR/GBP pair may find support at 0.8825 area, whereas violation of this can extend selling bias until the 0.8782 mark. The MACD and RSI support a selling bias, along with a downward channel that we can see on the four hourly timeframes. Here's a trading plan for today...

EUR/USD Stays Below 50 EMA – Quick Update on Sell Signal! 

The EUR/USD continues to trade bearish below 1.1800 support. It becomes a resistance level, having hit the low of 1.1740 level mainly due to the broad-based U.S. dollar latest recovery moves, supported by Friday's better-than-expected employment report. However, the gains in the U.S. dollar could be limited or short-lived as uncertainty remains about the U.S. economic recovery. 

Gold Slips Sharply Amid Stronger NFP Figures – Quick 100 Pips...

The precious metal gold prices fell sharply from 1,694 level to 1,671 level on the release of U.S. NFP figures. Earlier today, the gold was supported as the concerns between the United States and China getting worse day by day and not showing any sign of slowing down, rather U.S. Secretary of State Mike Pompeo showed love about Nasdaq's move on listing rules for Chinese companies. 

Three White Soldiers and 50 EMA – Should We go Long...

The Japanese cross EUR/JPY is on a bullish run, having crossed over 50 periods EMA at 115.551. As for the Japanese economic data is concerned, the Monetary Base for the year from Japan showed a decline to 2.3% against the expectations of 4.5% and weighed on JPY, which resulted in the upward movement of the EUR/JPY pair.

XAU/USD Completes Retracement – Is It Good Time to Go Long? 

Gold prices were closed at $1744.21 after placing a high of $1747.91 and a low of $1725.74. Overall the movement of gold prices traded downward throughout the day. Gold prices posted gains after US Treasury Secretary; Steven Mnuchin warned that if coronavirus lockdown continued for months, then the US economy could face permanent damage. He added that job numbers would fell on a worse level before they get better. US administration’s officers said that the government could suffer losses from the risky loans it issued during the pandemic.

EOS Consolidates on the Leading Diagonal Pattern

The EOS prices develop a bullish sequence following the Elliott wave structure of a leading diagonal pattern, which began on the March low at 1.4200.

Upward Trendline Supports the EUR/USD – Who’s Up for Buying?

The EUR/USD is showing sideways trading in between the narrow trading range of 1.0885 - 1.0770. On the hourly chart, the EUR/USD has formed an upward channel, which is a key setup right now. If the EUR/USD manages to break below 1.0775 area, we may see further selling in the pair until the next support level of 1.0720. Conversely, the closing of candles above 1.0770 can drive a bullish trend until 1.0850 and even higher towards 1.0885. 

EUR/USD Higher High, Higher Low Pattern – Quick Update on Trading...

The EUR/USD prices were closed at 1.09228 after placing a high of 1.09759 and a low of 1.09020. Overall the movement of the EUR/USD pair remained bullish throughout the day.

USD/CAD Enters Overbought Zone – Quick Trade Idea! 

The USD/CAD pair was closed at 1.28019 after placing a high of 1.28224 and a low of 1.26851. Since January 11 on Wednesday, amid the US dollar's broad-based strength and declining crude oil prices, the currency pair rose to its highest. The US Dollar Index measures the greenback's value against the basket of six major currencies settled above 90.50 level and supported the US dollar. The US dollar gained traction in the market ahead of the US Federal Reserve monetary policy decision and its safe-haven status.

EUR/GBP Triple Bottom Support – Is It Worth Buying?

Entry Price – Buy 0.90313 

USDCAD Buy Limit

USDCAD Limit Buy entry at 1.4050 with a target of 1.4525 and SL of 1.3980

AUD/USD Bearish Engulfing Signals Selling Bias – Brace for Quick Short...

The AUD/USD pair was closed at 0.68540 after a high of 0.70039 and a low of 0.68392. Overall the movement of AUD/USD pair remained bearish throughout the day. The risk perceived Aussie posted losses on Thursday in risk-off market sentiment, which was caused by the gloomy outlook of the US economy by Federal Reserve in its monetary policy meeting. The FED in its report said that the impact of coronavirus could last for a more extended period of time than Fed expected, and recovery would also be slower than expected.

EUR/USD Symmetric Triangle Breakout – Update on Sell Signal! 

On Thursday, the single currency euro slipped to its weakest level in a month following data, which showed a dramatic slowdown in the Eurozone's economic activity. The business activity is mostly halted by government-imposed lockdowns to prevent the coronavirus pandemic.

How to Correctly Evaluate Forex Signals Prior to Using Them

Trading signals are becoming big business, really big business. People come into trading these days looking for the easy option and often signals are...

Gold Signal Closed In Profit – Quick Update Today! 

The safe-haven-metal prices failed to maintain its previous day gains and dropped to $1,730 from $1,740, the highest since June 02 while representing 0.35% losses on the day as the broad-based U.S. dollar recently took a U-turn from the multi-day low backed by the fresh US-China tussle and contributed to the yellow-metal losses as they both have an inverse relationship. On the other hand, the risk-off market sentiment triggered by fresh conflict between US-China turned out to be one of the key factors that kept a lid on any additional losses in the gold.  

GBP/JPY Reverses Over Support – Doji & Bullish Engulfing in Play!

The GBP/JPY pair slipped to drop until 137.500 support level and has closed a Doji candle which is suggesting odds of bullish reversal in the market. On the 4 hour timeframe, the GBP/JPY pair has closed a Doji pattern which is suggesting that the sellers are exhausted and bulls may enter the market. On the higher side, the GBP/JPY pair can find resistance at the 138.687 level. Thus, we have decided to capture this move, and opened a signal with a stop loss at 137.46 and take profit of 138.36. Let's keep an eye on the pair.

A Prop Traders’ Take on Expert Advisors

As trading in the currency market may be a completely dissimilar experience for different traders, a single piece of advice may also apply differently across different people’s careers. If you feel that a specific set of instructions is not working out for you, while others seem to be doing quite well following the exact same steps, understand that there are more things at play aside from technical suggestions and tools.

Safe Haven Boosts Gold – Who’s Up for Bullish Trade? 

The precious metal gold is trading with a bullish bias around 1,742 area, bouncing off above start support level of 1,736 level on the 4-hour chart. Most of the buying is fundamentally driven as the broad-based U.S. dollar is experiencing a sell-off on the day as investors turned into the safe-haven assets due to the latest retaliation between the U.S. and China. 

EUR/USD Bullish Momentum Continues – Update on Buying Signal!  

During Monday's early European trading session, the EUR/USD currency pair successfully extended its previous session bullish trend and kept gaining its positive traction around above the 1.1850 level due to the broad-based U.S. dollar weakness. The U.S. dollar weakness could be associated with the massive U.S. tech selloff. Moreover, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also weighed on the safe-haven USD and contributed to the currency pair gains. 

EUR/USD Manual Close at 20 Pips Loss – Reason Explained! 

The EUR/USD pair traded in a bearish mode earlier today when we opened a sell trade at 1.17132. However, every soon, the market sentiment started to change, and the EUR/USD pair started forming a bullish setup. We decided to cut the minor loss in the EUR/USD pair, instead of keeping it until it hit loss. 

EUR/JPY Heading South to Examine Double Bottom – Buy Limit In...

The EUR/JPY is trading bearish, falling from 118.650 to 117 area in the wake of stronger Japanese yen and weaker Euro. On the fundamental's front, most of the news is anti-Euro, and it's likely to drive the selling trend in the Euro. 

Gold Symmetric Triangle Pattern – Who’s Up for Choppy Trading?  

Gold prices continue to move in a sideways trading range of 1,710 - 1,690, while the recently formed symmetric triangle pattern is stretching the trading range. The fresh trading range is likely to provide selling below 1,700 and buying above 1,680. The gold prices are exhibiting mixed bias in the wake of mixed risk sentiment as many nations have also joined the United States in this blame-game to China because of the increased number of deaths and the global economic slowdown, both caused by the coronavirus pandemic. 

USD/JPY Violates Symmetric Triangle Pattern – Buy Signal in Play! 

The USD/JPY has violated the ascending triangle pattern at 106.08 level, and it may head further higher until the next target level of 106.500 level. On the data front, at 04:30 GMT, the Unemployment Rate from Japan dropped to 2.9% from the expected 3.0% in July and supported the Japanese Yen. At 04:50 GMT, the Capital Spending from Japan dropped by -11.3% against the estimated -4.0% and weighed heavily on the Japanese Yen. At -5:30 GMT, the Final Manufacturing PMI for August from Japan expanded to 47.2 against the projected 46.6 and supported the Japanese Yen.

GBP/JPY: Bearish Breakout

GBP/JPY made a bullish move to start its trading day today. The 15M chart shows that the price upon finding its resistance around 136.610 made a strong bearish move and made a bearish breakout at an up-trending trendline.

Gold On Fire – Two Winning Forex Trading Signals Closed! 

The yellow metal prices failed to maintain its early-day modest gains and dropped from the $1,932.48 to 1,924.20 level due to the broad-based U.S. dollar modest strength, backed by the downbeat market trading sentiment. However, the gains in the U.S. dollar could be short-lived as the doubts over the U.S. economy persists. On the other hand, the previous market optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the latest disappointing U.S. data. As in result, the market trading sentiment turned negative, which eventually might help the gold prices to limit its deeper losses. 

Quick Up On USD/CAD Signal – Breakout, Fakeout! 

The USD/CAD pair was closed at 1.40160 after placing a high of 1.40424 and a low of 1.39000. Overall the movement of the USD/CAD pair remained bullish throughout the day. 

AUD/USD Ascending Triangle Breaksout– Time to Go Long! 

The AUD/USD surged 1.1% to a three-week high of 0.6237 as positive news regarding COVID 19 from china is motivating investors fo buy Aussie. The AUD/USD currency pair instantly gained around 30-35 pips from daily lows and is currently placed in the neutral territory, around the 0.6230 regions as the market attention now turns to the U.S. macro releases.

EUR/USD Choppy Trading Continues – An Update on Signal!

The EUR/USD remain depressive near 1.18 level, mainly due to the coronavirus latest report, which fueled fears that the economic recovery could halt once again. Despite the risk-off market sentiment in the Asian stock markets, the broad-based U.S. dollar struggled to draw safe-haven bids but failed at least now. In turn, the currency pair got helped to limit its deeper losses and hold above 1.18 level. The on-going U.S. Congress's failure to reach an agreement for the country's latest COVID-19 stimulus package also adds a burden to the greenback and helps currency pair. At the moment, the EUR/USD currency pair is currently trading at 1.1802 and consolidating in the range between 1.1791 - 1.1826.

EUR/USD Violates Ascending Triangle Pattern – Bullish Signal In Play! 

The EUR/USD bullish bias continues to dominate the market as it's trading at 1.2225. On the higher side, the EUR/USD may target the 1.2250 level and 1.2282 resistance areas. The direct currency pair may find support at 1.2175, which is extended by a double top resistance, which now is working as a support. The MACD and RSI are supporting bullish bias along with the 50 periods EMA. We can expect a continuation of a bullish trend in the EUR/USD today.