We publish forex signals once we see a good trading opportunity. The signals are free and updated in real time by our team of traders. The fundamental factors and the technical levels are always at the forefront, and this is why it is key to have both sides of the picture. To get the most out of forex trading, one has to be flexible in his approach and look constantly for new opportunities to correctly predict the market.
Following the rally toward 1.2838, the currency pair was seen stalling. In the near term, we expect to see a pullback. Therefore, we are looking to purchase daily PUT options in USDCAD at 1.2820 for a 21:00 GMT expiry time.
We expect that USDCAD is most likely to post a correction to the downside and thus close lower on the day.
We can see some signs of weakness in EURJPY. The currency pair was continuously falling in February and March and after failed to make an inverse head and shoulders, it is now moving in a rising wedge pattern, which is also a sign of exhaustion. Therefore, we would purchase daily Put options at 132.30 for 21:00 GMT expiry, as we expect EURJPY to close lower on the day.
While the central bank had left interest rates unchanged, the BoC signaled that further rate hikes are due later this year. Therefore, in this context today's speech by Poloz could offer more clues for the markets on the timing of the next rate hike and the inherent risks to policy tightening.
Today's binary signal is USDCAD, the currency pair had previously formed a bottom near 1.2579 - 1.2542 level before lifting higher. We expect the bullish momentum to be maintained in the near term. The monthly inflation report from Canada will be released today at 12:30 GMT by Statistics Canada.
The UK's Office for National Statistics (ONS) will be releasing the monthly retail sales report today. The data covers the period of March. Economists forecast that UK's retail sales declined 0.5% on the month. This comes after retail sales rose 0.8% in the month before.
Today's binary signal is USDJPY, the U.S. dollar was seen trading weak on the day despite improving market sentiment. Investors were initially cautious on potential reaction from the Russian authorities on the targeted air strikes by the U.S. and its allies on Syria over the weekend.
Today's binary options trading signal is EURUSD, the currency pair was seen trading subdued on Friday. The markets opened this morning to the news about the U.S. air strikes in Syria which is likely to keep the risk appetite in check. The retail sales report is expected to be released at 12:30 GMT for the month of March by the U.S. department of Commerce.
Besides the inflation report for Germany, the Eurozone trade balance data will also be released. The trade balance figures comes at a time when the U.S. President Trump has been aggressive in renegotiating trade terms that are more favorable for the U.S. A bigger than expected trade surplus could potentially attract focus from the U.S. administration.
Later in the day, the BoE Governor Carney is also expected to speak. His comments come ahead of the BoE's monetary policy meeting in the month of May where rates are expected to rise. With the ECB meeting minutes, the euro currency would be looking to close higher on the day against the British pound.
Today's binary signal is USDJPY, the currency pair has been consolidating around the 107.00 level with price action turning volatile on account of the global risk factors surrounding the trade wars between the U.S. and China. The FOMC meeting minutes will be released today at 1800 GMT.
