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Gold’s Choppy Session Continues – Brace for Breakout Setup!

The yellow metal prices managed to stop its previous session bearish bias and started to gain positive traction around the $1,874 level, mainly due to the prevalent selling bias surrounding the U.S. dollar. That was triggered by the downbeat U.S. data, which fueled the doubts that the U.S. economic recovery could be halt. Apart from this, the upbeat market mood also undermined the demand of the U.S. dollar. Thus, the weaker U.S. dollar could be seen as one of the key factors that helped the dollar-denominated commodity.

USD/CAD Triple Top Pattern Pressing Pair Lower – Sell Limit!

The USD/CAD pair was closed at 1.33921 after a high of 1.34178 and a low of 1.33322. Overall the movement of the USD/CAD pair remained bullish throughout the day. The currency pair USD/CAD posted gains on Friday amid the US dollar's broad-based strength and the declining crude oil prices. The USD/CAD pair posted the biggest weekly gain on Friday since March as the US dollar gained its safe-haven status back.

GBP/USD Choppy Session Continues – Quick Trade Plan! 

Today in the European trading session, the GBP/USD currency pair stopped its early-day winning streak and gained some bearish traction around 1.3165 level, mainly due to the broad-based US dollar strength. That was supported by the renewed hopes of the US next round of fiscal stimulus measures. Apart from this, the cautious market sentiment, triggered by the US-China tussle, also underpinned the US dollar and contributed to the currency pair gains. Furthermore, the concerns about the second wave of coronavirus infections also gave support to the US dollar and dragged the currency pair down.

Hard Luck with AUD/USD Signal – What’s Next?

The AUD/USD extended its early-day gains and hit the intra-day high of 0.7069 marks mainly due to the broad-based U.S. dollar weakness. That was sponsored by the downbeat U.S. unemployment claims data, which fuel the fears that the U.S. economic recovery is failing. Apart from this, the market risk-on sentiment also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. Across the pond, the gains in the S&P 500 futures, backed by the optimism over the coronavirus (COVID-19) vaccine/treatment, also lend further support to the currency pair.

GBP/USD Bounces off Support Level – Reason We Closed Signal Manually! 

The GBP/USD pair was closed at 1.27253 after placing a high of 1.27769 and a low of 1.26749. Overall the movement of the GBP/USD pair remained flat throughout the day. The GBP/USD pair remained flat due to mixed movements throughout the trading session. The pair closed its day at the same level it started its day with. In the first trading session, the pair continued to decline due to the strong US dollar and the UK's coronavirus situation. However, the renewed Brexit hopes from Michel Barnier gave strength to the British Pound that recovered all of its daily losses and ended the GBP/USD pair's day with a flat movement.

EUR/USD Breaking Below Intraday Support – Downward Channel In Play!

The EUR/USD pair was closed at 1.16598 after placing a high of 1.17187 and a low of 1.16511. Overall the movement of the EUR/USD pair remained bearish throughout the day. On Wednesday, the pair EUR/USD extended its losses and dropped for 4th consecutive session on the back of broad-based US dollar strength and resurgence of coronavirus cases in Europe.

CADJPY Shows Intraday Bounce Signals

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Bullish Bias in USD/CAD Dominates Amid Stronger Dollar – Signal Update!  

The USD/CAD pair extended its upward momentum to its highest level since 12th August, however, in the late trading session, the pair reversed its direction and closed its day with losses. The pair's upward trend could be attributed to the strong rebound of the US dollar across the board due to more hawkish comments from the Federal Reserve officials and US Secretary Steven Mnuchin. In their testimony to Congress, the Federal Reserve Chairman Jerome Powell and US Treasury Secretary Steven Mnuchin gave their views about the economic condition and strategies.

Gold Price Forecast, Sept 23 – Bearish Bias Dominates Amid Stronger...

Today in the European trading session, the yellow metal prices failed to stop its early-day losing streak and still gaining negative traction around the $1,885 level, having hit the low of $1,873 level on the day. However, the broad-based U.S. dollar strength could be considered one of the main reasons behind the bullion losses. Hence, the U.S. dollar was supported by a strong U.S. housing market against rising global COVID-19 cases. 

GBP/USD Breaks Below Double Bottom – Quick Green Pips!

The GBP/USD currency pair extended its previous day losing streak and hit the multi weeks low near below the 1.2700 level. The GBP/USD hit a multi-day low the previous day after the Bank of England (BOE) Governor Andrew Bailey delivered downbeat comments and UK PM Boris Johnson announced activity restrictions to control the coronavirus (COVID-19) resurgence risk. Apart from this, the losses in the currency pair were further bolstered by the reports suggesting that the U.K.'s virus-lead deaths raised to a 2-month high, which fueled the worries about the U.K. economic recovery and undermined the GBP currency.

AUD/USD Intraday Support Breakout Setup – Brace for Sell Setup! 

The AUD/USD closed at 0.71693 after placing a high of 0.72349 and a low of 0.71693. The AUD/USD pair declined for a third consecutive day on Tuesday to its lowest level since the 25th of August on the back of broad-based US dollar strength and dovish comments from RBA Deputy Governor Guy Debelle. 

USD/CAD Extend Previous Session Bullish Bias – Brace to Capture Quick...

Today in the European trading session, the USD/CAD currency pair successfully extended its previous session winning streak and consolidated the previous day's strong positive move to a 6-week high. However, the pair's positive tone could be associated with the broad-based US dollar on-going strength, backed by the risk-off market tone.

Gold Price Forecast, Sept 22 – Choppy Session in Play! 

The safe-haven-metal prices failed to stop its previous session losing streak and catch further offers near below $1,900 level, mainly due to the broad-based U.S. dollar strength triggered by the risk-off market sentiment. Thus, the broad-based U.S. dollar strength from the multi-month low could be recognized as one of the main causes behind the yellow-metal latest weakness as the market's risk-off wave tend to prefer the U.S. dollar above all, which in turn has an inverse correlation with the safe-haven yellow metal. The losses in the safe-haven U.S. dollar could be short-lived or temporary as the second wave of coronavirus continuously picks up the pace, which fuels worries over the U.S. economic recovery. 

AUD/USD Bearish Breakout, Fakesout – Quick Update on Signal!  

During Tuesday's early European trading hours, the AUD/USD currency pair failed to erase its early-day losses and took further offers near below the 0.7200 marks, mainly due to the risk-off market sentiment backed by the escalation of tensions between the U.S. and China. Furthermore, the virus worries and the inability to pass the U.S. fiscal package also weighed on the risk sentiment, undermining the perceived riskier Australian dollar and contributing to the currency pair gains. 

GBPAUD Raises After Intraday Breakout

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USD/CAD Bounces off to test Resistance Level – Brace for Buy...

The USD/CAD currency pair failed to stop its previous session declining rally and took some further offers while refreshing 3-day lows, around the 1.3135 regions in the last hour. However, the sentiment around the currency pair was being pressured by the US dollar's selling tone. Hence, the broad-based US dollar weakness could be associated with the renewed optimism over a possible vaccine for the highly infectious coronavirus disease, which eventually forced investors to continue dumping the safe-haven greenback. 

AUD/USD Slips below Double Top – Brace for Selling Trade! 

The AUD/USD pair was closed at 0.72907 after placing a high of 0.73338 and a low of 0.72823. Overall the movement of the AUD/USD pair remained bearish throughout the day. Despite the positive comments from Prime Minister Scott Morrison, the AUD/USD pair dropped on Friday amid the declining risk sentiment. 

USD/CHF Erased Its Previous Session Losses – An Update on Signal! 

During the Friday's European trading hours, the USD/CHF currency pair stopped its early-day bearish rally and drew some fresh bids around above 0.9100 level despite the cautious mood around the equity markets. Besides this, the prevalent selling bias surrounding the U.S. dollar also failed to drag the currency pair down. Hence, the broad-based U.S. dollar came under pressure instantly after the Thursday's rather unimpressive U.S. economic data. 

Bullish Channel Underpins the EUR/CHF – Update on Signal!

The EUR/CHF continues trading bullish at 1.0776 as stronger Euro is likely to drive EUR/CHF bullish. The demand for safe-haven assets is keeping the CHF supported; however, the technical side of the market is still dragging the EUR/CHF higher. The optimism over the coronavirus (COVID-19) vaccine/treatment was overshadowed by the concerns about the second wave of coronavirus infections, which fading optimism over a sharp V-shaped global economic recovery. 

EUR/JPY Failed to Gains Positive Traction – Quick 40 Pips Profit! 

Today in the early European trading session, the EUR/JPY currency pair failed to stop its previous session losing streak and further offers around below the 124.00 regions in the last hours. However, the bearish bias around the currency pair was bolstered by the reports suggesting the confirmation of deflation seeping back into the Eurozone, which undermined the shared currency and contributed to the currency pair declines. Meanwhile, the continued rise in coronavirus cases also exerted downside pressure on the shared currency, which dragged the currency par below 124.00. 

USD/JPY Downward Channel In-Play – Quick Update on Signal! 

The USD/JPY stopped its previous-day bearish bias and picked up some bids around the 104.80 level, mainly after the downbeat prints of Japan's National Consumer Price Index (CPI) for August eventually undermined the Japanese yen currency and extended support to the currency pair. 

Gold Choppy Session Continues – Quick Buy Limit!  

The yellow metal prices failed to maintain its previous-day gaining streak and edged lower to 1,940 level due to the broad-based U.S. dollar strength, backed by the better-than-expected U.S. unemployment figures. Apart from this, the central bank said that it expects the U.S. economic recovery from the coronavirus crisis to gather pace, boosting the U.S. dollar sentiment.

GBP/USD Failed to Extend 3-Day Winning Streak – Quick 30 Pips!

During Thursday's European trading session, the GBP/USD currency pair failed to extend its previous 3-day winning streak and hit the intra-day low near below the mid-1.2900 level. Hence, the selling bias around the currency pair was triggered by the doubts over the Brexit-positive headlines ahead of the key Bank of England (BOE) monetary policy meeting. Additionally weighing the quote could be the rising number of coronavirus (COVID-19) in the U.K., which eventually undermined the British Pound and adds extra burden around the currency pair.

USD/JPY Extended Previous Session Losing Streak – Update on Singal! 

During Wednesday's early European trading session, the USD/JPY currency pair failed to stop its Asian session bearish moves and dropped further near 105.30 level mainly due to the broad-based U.S. dollar weakness, triggered by the cautious mood of traders ahead of the Federal Open Market Committee (FOMC) meeting. Moreover, backed by the recently positive coronavirus (COVID-19) vaccine news, the upbeat market sentiment also weighed on the safe-haven U.S. dollar. 

Gold Trades Choppy Ahead of FOMC – Ascending Triangle in Play! 

During Wednesday's Asian trading session, the yellow metal prices extended its overnight buying bias and gathered some pace around the two-week tops above 1,960. The massive offered tone surrounding the greenback was seen as one of the major factors that helped the dollar-denominated commodity gold. However, the weaker tone around the U.S. dollar was mainly driven by the ongoing risk-on mood, which eventually undermined the safe-haven U.S. dollar. Besides, the U.S. dollar bearish bias could also be associated with traders' cautious mood ahead of the Federal Open Market Committee (FOMC) meeting. Apart from this, the market trading sentiment was being supported by the news suggesting the AstraZeneca's restart of the coronavirus (COVID-19) vaccine trials.

AUD/USD Managed To Keeps Winning Streak – Buy Signal In Play! 

Today in the early European trading session, the AUD/USD currency pair extended its previous session bullish bias and took further bids around a weekly high 0.7329 level, mainly due to the risk-on market sentiment, backed by the on-going optimism over treatment for the highly infectious coronavirus. Moreover, the renewed Sino-American trade optimism also helped the market risk tone, which underpinned the Australian dollar's perceived risk currency and contributed to the currency pair gains.  

USD/JPY Selling Bias Dominates – Quick Update on Signal! 

The USD/JPY closed at 105.730 after placing a high of 106.164 and a low of 105.547. The USD/JPY pair finally found some specific direction to follow and moved in the downward trend amid the broad-based U.S. dollar weakness. However, the improved risk sentiment around the market capped further downward movement in the currency pair.

EUR/USD on a Bullish Run Amid Stronger ZEW Economic Sentiment

The EUR/USD managed to gains positive traction and edged higher around the 1.1900 level mainly due to the broad-based US dollar. Thus, the broad-based US dollar weakness could be associated with the market risk-on mood, which was supported by the renewed optimism over a possible vaccine for the highly infectious coronavirus disease. Apart from this, the doubts over the US fiscal stimulus measures and upbeat China data also weighed on the broad-based US dollar, which keeps the EUR/USD currency pair higher closer to 1.1900 marks. 

Gold Extend Previous Day Bullish Rally – Risk-On Market Sentiment!

During Tuesday's Asian trading session, the yellow metal prices extended its previous day winning streak and edged higher on the 2nd-day of a new week. However, the bullish sentiment around the yellow-metal prices has remained supportive by the prevalent selling bias surrounding the U.S. dollar. The losses in the U.S. dollar was seen as one of the key factors that helped the dollar-denominated commodity. Hence, the U.S. dollar was being pressurized by the doubts over the U.S. fiscal stimulus measures. Besides, the upbeat market mood, backed by the combination of factors, also undermined the U.S. dollar and contributed to the bullion gains. It is worth mentioning that the market trading sentiment was supported by the news suggesting that the Phase III clinical trial went very well, and the vaccine could be ready by November/December.

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. 

Gold’s Choppy Session in Play – Brace for Selling Signal! 

During Monday's early Asian trading session, the yellow metal prices extended its halt its overnight bearish bias and gathered some pace around above the 1,950 level. The U.S. tech stocks continue to fall, led once again by NASDAQ, which tends to help the gold prices to stay bid. However, the weaker bias around the U.S. dollar was mostly driven by the lack of safe-haven demand. Hence, the market trading sentiment was being supported by the news suggesting the AstraZeneca's restart of the coronavirus (COVID-19) vaccine trials, after stopping it during the last week. In the meantime, the risk-on sentiment was further bolstered by the comments from the European Central Bank (ECB) policymakers suggesting further easy money days. These positive headlines became the key factor that kept the lid on any further yellow metal gains. The market players did not give any major heed to the Sino-US on-going tussle and Brexit looming worries across the pond. 

Gold Failed to Maintain Overnight Bullish Run-Up – Quick Update!

The yellow metal prices failed to extend its bullish overnight rally and instantly dropped below the $1,940 level after hitting 9-day high overnight. However, the overnight gains could be attributed to the report suggesting the second week of U.S. stock selloff and fall in the U.S. dollar. Still, the gains in the precious metals were short-lived as the market trading sentiment turned positive.

USD/CHF Depressed Near 1-1/2-Week Lows Below 0.9100 – Signal Update 

During the Friday's Asian trading hours, the USD/JPY currency pair failed to stop its previous day declining streak and took further offers below the 0.9100 level. Let me remind you, the currency pair extended this week's rejection slide from the 0.9200 round-figure marks and saw some follow-through selling for the third-straight session on Friday. However, the reason for the bearish tone around the currency pair could be associated with the broad-based U.S. dollar weakness, triggered after the U.S. markets witnessed yet another stock selloff overnight. Apart from this, the upbeat market sentiment, supported by optimism over a potential vaccine/treatment for the highly infectious coronavirus, also undermined the safe-haven U.S. dollar and contributed to the currency pair gains. 

AUD/USD Violates Double Top – Brace for Buying Trade 

The AUD/USD currency pair failed to keep its Asian session bullish momentum and dropped below the 0.7270 level despite the welcome prints of second-tier Aussie data and weaker U.S. dollar. As we know, these factors initially gave support to the currency pair, but unfortunately, the currency pair failed to keep its bullish momentum into the European session. However, the reason for the bearish sentiment around the currency pair could be associated with the on-going tussle between the US-China, which leads to the decline in U.S. stock's future. In turn, this undermined the perceived risk currency Australian dollar and contributed to the currency pair losses.

Gold’s Upward Channel Supports Buying – Checkout Buying Signal

The yellow metal prices extended its bullish overnight rally and still taking bid around above the 1,950 level. Let me remind you that the fall in U.S. tech stocks initially boosted the safe-haven metal's rise during the previous session, pulling it up from a low of $1,927.20 to an overnight high of $1,959.35. 

USD/CAD Failed To Maintain Its Previous Day Bullish – Let’s Capture...

During Wednesday's European trading session, the USD/CAD currency pair failed to extend its previous session bullish bias. They dropped from the 1.3257, the August 17 high to 1.3215 level mainly due to the cautious mood of the traders ahead of the Bank of Canada's (BOC) monetary policy meeting, which is due to happen at 14:00 GMT. 

Gold’s Choppy Session Continues – Trader’s Brace for a Breakout 

The yellow metal prices failed to stop its previous day losing streak and dropped to 1,923.20 level mainly due to the broad-based U.S. dollar strength, backed by the upbeat prints of the NFIB Small Business Index and anti-risk moves. However, the broad-based U.S. dollar strength could be considered as one of the main reasons behind the yellow-metal latest weakness. 

GBP/USD Slips Muti-Week Low – 40 Green Pips Encashed 

During Tuesday's European trading session, the GBP/USD currency pair failed to stop its previous day bearish moves and dropped further to a multi-week low near below the 1.3050 level while represented 0.113% losses on the day mainly due broad-based U.S. dollar ongoing strength, backed by high safe-haven demand. 

USD/CAD Remains On Bullish Track – Quick Buy Trade!

The USD/CAD succeeded in extending its previous day winning streak and still taking bids around well above the 1.3100 level. However, the positive tone around the currency pair could be associated with the broad-based U.S. dollar on-going strength, backed by the Friday released upbeat U.S. jobless rate data and hopes of the U.S. stimulus. The U.S. dollar gains were also supported by the high safe-haven demand in the market.

USD/CAD Facing Hard Time Below 1.3110 – Quick Sell Trade! 

The USD/CAD succeeded to extend its early day bullish bias and hit the intra-day high well above 1.3100 level mainly due to the broad-based US dollar strength backed by the Friday released upbeat US jobless rate and wage growth data. The US dollar gains were also supported by the high safe-haven demand in the market. Across the pond, the reason for the currency pair bullish bias could also be attributed to the weaker oil prices which ultimately undermined the demand for the commodity-linked currency the loonie, and contributed to the currency pair gains. 

AUD/USD Set to Complete 61.8% Fibonacci Retracement – Signal Update! 

Today in the early European trading session, the AUD/USD currency pair Managed To stop Its Previous Session losing streak and drew some modest bids on the back of the upbeat China trade numbers, which came out better than forecast. Also, capping the losses could be the light calendar in Asia amid the U.S. holiday. On the contrary, the fresh risk aversion wave, triggered by the US-China renewed tussle and Brexit issue, turned out to be a major factor that kept the lid on any further gains in the currency pair. 

Gold Supported Over Symmetric Triangle Pattern – Quick Outlook! 

The yellow metal prices extended its Friday's winning streak and took bids around the $1,936 level, mostly due to the risk-off market sentiment. That was witnessed by the negative performance of the S&P 500 Futures. However, the reason for the downbeat trading sentiment could be associated with the worrisome headlines concerning Brexit and on-going tension between the U.S. and China. This, in turn, helped the gold prices to put safe-haven bids. In the meantime, the coronavirus (COVID-19) worries also keeps the market trading sentiment cautious.

AUD/USD Stopped Losing Streak – Bullish Correction in Play!  

Today in the European trading session, the AUD/USD currency pair succeeded in stopping its previous session losses and took fresh bids above the 0.7280 level as the U.S. stock futures turned positive. The fresh gains were backed by the optimism over a potential vaccine/treatment for the highly infectious coronavirus, which eventually underpinned the perceived risk currency Australian dollar and contributed to the currency pair gains. 

AUD/USD Bullish Correction Completed – Brace for Selling! 

The AUD/USD failed to stop its previous session losing streak and dropped below 0.7300 level due to the broad-based U.S. dollar strength, buoyed by the Tuesday's better-than-expected U.S. manufacturing data. Also weighing on the currency pair was the downbeat data from Australia and China. On the contrary, the market risk-on sentiment, supported by the vaccine hopes and hopes of further U.S. stimulus, becomes the key factor that helped the currency pair limit its deeper losses.