8 Free Forex Trading Signals For Sept 4 – Sept 8 2017
How did these charts play out?
AUDCHF – Price consolidated throughout the week
AUDJPY – Price consolidated throughout the week
CADCHF – Price broke through resistance for 66 pips and slammed back below
CADJPY – Price ran for 80 pips before rejecting at resistance
CHFJPY – Consolidation
EURGBP – Price pulled back into target area but no trade setup
EURJPY – Sideways price action
GBPUSD – Strength was still in this pair as analysed and ran for 180 pips to the upside.
As the summer months are coming to an end, I wasn’t expecting too much in the way of moves this past week. Just over 600 pips on the charts I posted which is still a good week.
It doesn’t matter how you approach the markets as supply and demand are the driving forces. Currencies are a little different as the main driver is interest rates in Forex and the “economy” of each country. Find where there is a potential imbalance and capitalize on it. You can gain a lot of pips by trading trends.
Price action and the structures it leaves will always give you clues on which side is stronger. Our job is to latch onto that by understanding where price currently is, what the potential move may be, and find ways to get involved.
It is that simple. Just not easy.