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 markets are relatively quiet as far as the euro and the U.S. dollar are concerned. However, the bullish momentum seen in the past few days is showing signs of a continuation to the upside. On the economic front, the Eurozone ZEW economic sentiment is due for release later in the day at 0900 GMT.
Amid a quiet trading day, economic data from Japan stands out. Data released earlier today from the Cabinet office showed that Japan's core machinery orders fell at a faster than expected pace in November.
Manufacturing and industrial production figures from the UK will be released today at 0830 GMT. Economists are forecasting a 0.6% increase in manufacturing production on month over month basis while industrial production is expected to rise 0.8%.
The U.S. final wholesale inventories data is expected to show a 0.9% increase on a month over month basis in November. This comes after a rather weak print in October where U.S. wholesale inventories declined 0.4% despite a surge in sales.
EURGBP opened Monday's session on a strong bullish note as the British pound turned weaker at the open. Economic data from the eurozone included the German industrial production figures which showed a 0.4% increase on a month over month basis in November.
USDCAD has pushed higher in recent days led by weaker oil prices. On the economic front, data today will include the monthly retail sales figures alongside the monthly inflation data.
USDJPY rallied back yesterday after the BoJ left policy unchanged. The gains came on the back of a stronger U.S. dollar which pushed to fresh 14-year highs. Technically, USDJPY remains oversold near the 118.0 handle.
The economic calendar is light today with no major events schedule, making the German Ifo business climate the only economic release of interest. It is not a high impact event but given the lack of data today, it could potentially shift the market sentiment in the euro.
The Federal Reserve's two-day FOMC meeting concludes today and investors are certain that the central bank will be hiking interest rates for a second time after the first rate increase in last December.
It is a busy day for the euro with economic reports today including the Eurozone and German ZEW economic sentiment and the quarterly employment change report.
