8 Free Forex Trading Signals For June 5 – June 9 2017
How did these trade setups work out?
70 pips potential. Your mileage may vary.
EURTRY – Bounced as shown in the original chart. Price broke the trend line and then collapsed.
GBPCHF – Was looking for shorts. Shorts happened but tough trading but no entry.
NZDCHF – Price kept rallying to the upside and stalled at resistance. While looking for shorts, we trade price action and we never know what the trading week will show. Still, price action was not strong as indicated by the candlesticks. You could have taken longs but on this end, it was not convincing enough.
NZDUSD – Consolidation on Monday gave us our long entry. 70 pips
USDCAD – Price stayed in consolidation
USDJPY – Price broke support and immediatly retraced back for a possible retest
USDNOK – Price didn’t drop, continued to rally and retest the trend line. Week ends bearish.
USDSGD – Break of support and rally. No trade.
Last week was a short trading week and the rest of the week had price action that was not very enticing. Still, 720 pips was the potential for traders who follow these free Forex signals.
A lot of currency pairs are in rough shape with lower and upper shadows and uncommitted price structure.
Quick lesson, look back at this chart of EURUSD and notice where price halted this week on this currency pair. Make no mistake, measured moves and certain price patterns work very very well.