Free Forex Signals Service
UPDATED FOR WEEK OF: JAN 16- 20 2017
7 Forex Trading Signals For Jan 16 – 20 2017
As we roll into the change of power in the U.S., markets are a little erratic and again hits home the importance of having your trading plan in full working mode and a plan for each trade including where you will enter, exit and how you will manage your trade. Take caution this week!
A few of the charts from last week played out in a manner that would have allowed you to manage the trade.
AUDNZD broke from the noted zone and rallied for 80+ pips and now retracing. It has broken to the upside from a downward trend line that began in Oct of 2016. You may still choose to monitor the price action.
CADJPY was a wonderful short after an obvious failure to gain upside momentum. Engulfing candle sent this pair dropping 120 pips before coming to a brief halt.
NZDUSD continued the march to the upper trendline target for about 100 pips
USDCAD gave no indication of upside momentum and broke to the downside. A reversal candle failed to drive price back above our demand line. Monitor this trade for downside momentum and target of 1.2940 if you can find an entry.
Remember…we are looking for probabilities…not forecasting.
AUDNZD DAILY CHART
AUDUSD DAILY CHART
CADJPY 4 HOUR CHART
EURUSD DAILY CHART
GBPJPY DAILY CHART
NZDCHF DAILY CHART