About Our Forex Signals
Tonisignals creates free forex signals to give all levels of forex traders support. Our forex signals are typically on the major and minor currency pairs, and incorporate a number of technical indicators and fundamental analysis. Tonisignals provides both short term and long term Forex Signals, targeting anywhere between a few pips to a higher range of pips.
Forex Signals are essentially trade ideas used by both beginner forex traders and professional traders alike, and contain a trade direction (buy/sell), a SL (stop loss) and TP (Target Price). Tonisignals free forex signals are created when our team spots a trading opportunity in the forex markets that meets our criteria.
Following our forex signals is easy, simply download the Tonisignals app or join our free telegram channel to be notified when our team identifies an opportunity. Our signals can be incorporated with your forex trading strategy, so if your strategy points to further gains simply extend your TP.
The U.S. producer price index data for the month of February will be released today at 1230 GMT. Economists polled expect the headline PPI to rise 0.1% and core PPI to rise 0.2% for the month of February. This would be a slower pace of increase compared to January's 0.6% and 0.4% increase.
Today’s ADP/Moody’s private payrolls report will be a major economic release of importance that could potentially impact the U.S. dollar cross-currencies. The report comes out ahead of this Friday’s non-farm payrolls report. The data comes at a time when the markets have fully priced in a rate hike from the U.S. Federal Reserve next week.
The fourth quarter GDP figures from the Eurozone will be released later today. Expectations on the data call for the revised GDP to remain unchanged at 0.4%. In the previous data release, Eurostat showed that growth increased 0.4% on a quarterly basis in the three months ending December 2016.
Sentiment in the British pound has been deteriorating since the past week or two after reports emerged about Scotland wanting to hold its second independence referendum. Economic data was also not supportive of the British pound which last week showed manufacturing, construction and services PMI numbers slowing down.
The U.S. dollar rallied late Tuesday fuelled by hawkish comments from various Fed members who reiterated the case of raising the short term interest rates. However, the market reaction was quite mixed with gold prices surprisingly posting gains late into the day.
Markit will be releasing the flash manufacturing and services PMI numbers for the Eurozone countries today, including France and Germany, followed by composite PMI numbers for the Eurozone. Expectations point to a modest pull back in the flash manufacturing PMI to 55.0, down from 55.2 in January while flash services PMI is expected to remain unchanged.
Germany producer prices data released earlier this morning showed that prices for industrial products rose the most since March of 2012. The data underpinned the fact that inflation was seen making a comeback in the Eurozone, albeit on a mixed note.
The EURUSD is trading weaker after the Fed Chair; Janet Yellen reiterated her view for interest rate hikes which sent the U.S. dollar higher across the board. Yellen's comments yesterday means that now the March FOMC meeting is a live meeting for an interest rate hike.
EURUSD fell to the support level at 1.0600 yesterday and price action is showing signs of bouncing off this support level earlier today. Economic releases this morning saw the German GDP figures for the fourth quarter coming out.
It is a slow trading day today with no major market releases of importance. In the early European trading session, the German wholesale price index data was released.
