Free Forex Signals

Trading in the forex market can be extremely lucrative, provided there is accurate and authentic information. To make successful transactions in the forex market, traders require accurate free forex signals. Otherwise, they will have to stay glued to their computer screens and monitor the best possible entry and exit points in the market. Not all traders can afford such a time consuming approach.

A solution to address the time constraint would be to adopt a less tedious method of pre-specifying the stop-loss and take-profit limits for their trades. However, this limits a trader’s profit-making opportunities. The best remedy to end all these limitations is to opt for free forex signals.

Free Forex Signals: How Do They Work?

Free forex signals are buy and sell indicators based on economic, social, political and demographical news. Their aim is to alert traders on any good entry and exit points that could lead to profits.

Free forex signals are useful because:

• Traders use it to identify major market patterns and trends in the forex market.
• These signals are usually generated and provided by forex signal services, on the basis of technical studies.
  
  
• 
  
  The signals are delivered promptly to the traders’ cell phone, pager or computer.
  
  
  
• 
  
  Prompt and accurate updates enable traders to focus on their work and not miss any of the market’s profit-making opportunities.
  

While free forex signals constitute critical information, it may not be 100% accurate. Traders must:

·        take into account the various types of signals.

·        consider that the forex signals only provide hints on how the forex market might behave.

·        select the best one.

Free Forex Signals: Why Should One Opt For Them Instead of Paid Ones?

Several brokers and forex signal providers offer traders with signals in exchange for a specific fee. Choosing free forex signals is a better option. If any provider of paid forex signals claims to know the pulse of the forex market, then ask:

• 
  
  If they are so highly successful in forex trading and earning good profits, why are they selling forex signals so desperately?
  
• 
  
  If they are selling the signals to augment their income, then do they really have the kind of expertise in the market as they are claiming?
  

To find accurate and up-to-date information, the best way to search for the free forex signals is by typing "Free Forex Signal RSS" on any search engine.

AceTrader Market Moving News

22 Oct 2009   07:44 GMT

Gbp/usd - 1.6543 ... Bank of England Deputy Governor Pail Tucker said it may be difficult to gauge the strength of Britain's economy recovery for some time to come. The British pound weakened on active profit-taking together with renewed cross selling in sterling (eur/gbp rebounded fm y'day's low of 0.8998 to 0.9050). Offers are now tipped at 1.6600/10 n 1.6630/35 with stops seen abv 1.6650. On the downside, bids are located at 1.6535 n 1.6500 with stops seen below 1.6490.

22 Oct 2009   06:45 GMT

Eur/usd - 1.4983 ... Although the single currency has edged lower fm y'day's fresh 14-month high of 1.5047 on active profit-taking, renewed buying interest by Asian names is located at 1.4970 n further out at 1.4950 with stops only seen below 1.4900 n 1.4880. On the upside, offers are tipped at 1.5010/20, 1.5040/45 with option-related stops located abv 1.5050 barrier.

22 Oct 2009   05:41 GMT

Gbp/usd - 1.6608 ... Cable was unable to penetrate y'day's high at 1.6638 in Asia n retreated with some traders seen on the sidelines ahead of the release of U.K. September retail sales data at 08:30GMT (forecast to increase by 0.5% m/m). Offers remain at 1.6660 n 1.6690/00 (for profit taking purposes) while on the downside, bids are located fm 1.6580 down to 1.6550. European equity markets are likely to open slightly lower following y'day's 92-point delcine in the Dow...

22 Oct 2009   05:36 GMT

Eur/usd - 1.5000 ... Despite y'day's rally to a fresh 14-month high at 1.5047, euro has retreated fm there to 1.4978 on profit taking after this morning's China GDP data did provide any surprises (the 8.9% figure matched economists' expectations but there were rumours of a reading of 9.0% or higher). Stops at 1.4980 have been hit n buying interest is tipped at 1.4940/50 n also 1.4900/10. On the upside, offers are noted at 1.5050 with stops abv there. Option-related offers are found further out at 1.5090/00...

22 Oct 2009   05:30 GMT

Usd/jpy - 91.15 ... Active cross selling in yen has given support to the dlr in Asia n offers at 91.30/40 are in focus with stops placed abv there. More selling interest (orders are likely to be for profit taking orders) is noted further out around the 92.00 lvl. On the downside, bids are located at 90.50/60 n also at 90.20/30 (incl. Asian n European names). There was little reaction to the release of Japan all industry index, which rose 0.9% compared to the consensus forecast of 0.4%

22 Oct 2009   02:11 GMT

Gbp/usd - 1.6625 ... BOE Governor Mervyn King's comments on interest rates (he said that rates 'at some point will return to normal levels') n the unanimous vote to keep the size of the quantitative easing program unchanged were the reasons behind y'day's cross-inspired rally to 1.6638 n cable has traded with a firm undertone in Asia this morning on renewed buying fm st specs. Bids are reported in the region of 1.6580-1.6600 while offers are tipped at 1.6660 (for profit taking purposes) n also 1.6690/00 with stops likely to emerge abv there...

22 Oct 2009   02:04 GMT

Eur/usd - 1.5026 ... Euro breached the 1.5000 lvl at NY opening (the option barrier placed there was taken out) n hit a fresh 14-month high at 1.5047 b4 easing to around 1.4992, however, Asian traders have come in n bought the single currency this morning, with some players encouraged by the robust China GDP n retail sales data. Fresh buying interest is tipped at 1.5000 with bids also located at 1.4960/70. A mixture of bids n stops is tipped at 1.5050 n offers are also found at 1.5090/00...

22 Oct 2009   02:01 GMT

Usd/jpy - 91.00 ... Although dlr dipped briefly to 90.77 following the release of Japan trade data, price has rebounded on cross selling in yen with st specs seen selling yen esp vs euro. Offers are noted in batches fm 91.10 up to 91.40 with stops placed below latter lvl. More offers are tipped further out around 92.00 (some orders are for profit taking purposes). On the downside, bids fm various accounts (includ. model funds) are lined up at 90.20/30. Nikkei-225 has ended the morning session down around 122 points...

21 Oct 2009   15:49 GMT

Gbp/usd - 1.6605 ... The British pound extended intra-day rally to 1.6636 on renewed dollar's weakness across the board (euro rallied to fresh 14-month high of 1.5020) due to the firmness in global stock markets (Dow Jones index rose by 24 points to 10065). Bids are located at 1.6560, 1.6540 n further out at 1.6510/20 with some stops seen below 1.6500. On the upside, profit-taking offers are tipped at 1.6630/40 with stops seen abv 1.6650.

21 Oct 2009   14:16 GMT

Eur/usd - 1.4997 ... The single currency rallied to a fresh 14-month high of 1.5005 (triggered the mentioned 1.5000 one-touch option) due to renewed risk appetites on expectations that the Federal Reserve would hold U.S. interest rates very low for some time. Bids are located at 1.4965/70, 1.4940 n further out at 1.4910/20 with stops seen below 1.4900. On the upside, offers are tipped at 1.5020/30 with stops are located abv 1.5050.

21 Oct 2009   13:24 GMT

Usd/jpy - 91.15 ... The greenback maintained a firm undertone ahead of U.S. opening although Dow Jones index is expected to open lower. Bids are located at 90.80/85 with stop seen below 90.70 n 90.50. On the upside, offers are tipped at 91.25/30 with stops are located abv 91.50. Investors are focusing on the release of Fed's Beige book at 18:00GMT.

21 Oct 2009   12:15 GMT

Gbp/usd - 1.6578 ... UK's Darling said it is better to take fiscal support off too late than too soon but indicated that UK should only remove the support when it is clear recovery has established. The British pound maintained a firm undertone after rising to 1.6592. Bids are reported at 1.6535/40 n 1.6500/10 with stops seen below 1.6490. On the upside, offers are tipped at 1.6590/95 with stops are located at 1.6600.

21 Oct 2009   10:06 GMT

Gbp/usd - 1.6543 ... Despite early cross-inspired rally to a high of 1.6592 after the release of BOE minutes, cable has retreated fm there on profit-taking on the weaker-than-expected CBI manufacturing data (-51 versus the expectation of -45 n previous month's reading of -48.0). Offers are located at 1.6570 n 1.6590 with some stops seen abv 1.6600. On the downside bids are reported at 1.6500/10 n 1.6460/70.

21 Oct 2009   09:29 GMT

Usd/jpy - 90.90 ... The greenback rebounded on active cross selling in jpy especially versus euro n sterling (eur/jpy n gbp/jpy rose fm 135.19 to 135.93 n fm 148.48 to 150.81 respectively). Bids are reported at 90.65/70 n 90.50 with stops only seen below 90.00. On the upside, offers are tipped at 91.05/10 n 91.25/30 with stops are located abv 91.50.

21 Oct 2009   08:33 GMT

Gbp/usd - 1.6525 ... The Bank of England October policy meeting minutes showed that policymakers voted unanimously this month to leave the size of its asset purchase programme unchanged at 175 billion pounds. The MPC also said recent economic developments had generally been positive n inflation is likely to rise in short-term. The British pound jumped to 1.6544 n bids are located at 1.6465/70 n further out at 1.6440 with stops seen below 1.6400. On the upside, profit-taking offers are tipped at 1.6545/50 n 1.6575/80 with stops building up abv 1.6600.

21 Oct 2009   07:29 GMT

Eur/usd - 1.4955 ... The single currency rebounded strongly in European morning due to active buying fm various accounts. Traders are watching the 1.5000 option barrier with talks of a one-touch barrier n a digital option expiry with an 8 million euro payout. Bids are located at 1.4940, 1.4920/25 n further out at 1.4900. On the upside, offers are tipped at 1.4990/95 with stops seen abv 1.5000 but more selling interest (profit-taking) is located at 1.5020/30 n 1.5050.

21 Oct 2009   05:41 GMT

Eur/usd - 1.4926 ... Euro was unable to penetrate sup at 1.4883 (y'day's NY low) in Asia this morning n rebounded fm there in line with the dlr's fall across the board. Offers are reported at 1.4950/60 with option-defensive offers noted abv y'day's fresh 14-month high at 1.4994. On the downside, bids have now been moved up to 1.4880 with buying interest also tipped at 1.4850/60. Data to be released in European morning include BOE meeting minutes n CBI industrial trends survey...

21 Oct 2009   05:37 GMT

Usd/jpy - 90.69 ... Despite y'day's rebound fm 90.07 to 91.08, dlr has retreated in Asian morning in line with the greenback's broad-based weakness. Bids at 90.40/50 are in focus with more buying interest reported at 90.00/10 while on the upside, offers remain at 91.00/10 with stops placed abv there. More offers fm various accounts (incl. exporters) are tipped fm 91.50 up to 91.70 n also further out at 92.00...

21 Oct 2009   05:24 GMT

Gbp/usd - 1.6426 ... Cable has risen in part due to comments fm BOE Governor Mervyn King, who was quoted as saying that U.K. interest rates 'at some point will return to normal lvls'. Offers have been placed abv y'day's high at 1.6490 to protect an option barrier at 1.6500 (stops are building up abv this lvl) while on the downside, bids are likely to emerge at 1.6350/60 n further out fm 1.6320 down to 1.6300. Dow futures are currently down around 10 points...

21 Oct 2009   02:17 GMT

Eur/usd - 1.4897 ... Option-defensive sellers were able to cap euro at 1.4994 y'day n the single currency fell sharply fm there as traders liquidated some of their early long positions. Despite the o/n recovery to around 1.4952, euro has fallen again in Asia this morning in line with the dlr's broad-based firmness. Fresh offers are tipped at 1.4950/60 n selling interest still remains at 1.5000. On the downside, bids are likely to emerge at 1.4810/20

USD Slumps on Blockbuster JPM Earnings

The beleaguered dollar found no reprieve in the Wednesday session, extending its losses to fresh 14-month lows against the euro and Australian dollar to 1.4934 and 0.9156, respectively. A shift to riskier assets was triggered by a stronger than expected earnings report from JP Morgan Chase, prompting advances in the US equity bourses with the Dow Jones, Nasdaq and S&P 500 all gaining by more than 1.2% by afternoon trading. The Dow Jones edged higher toward the psychologically key 10,000-level, briefly breaching above it on an intra-day basis for the first time in a year.

The economic data released earlier in the session were largely mixed, consisting of retail sales, import prices, export prices and business inventories. The headline retail sales figure was better than estimated, albeit still declining by 1.5% for September versus a 2.7% from August. The excluding automobiles retail sales figure beat consensus estimates also, posting an increase of 0.5%, better than calls for a 0.2% increase from 1.1% a month earlier. The August business inventories figure revealed a 1.5% drop from a 1.0% decline in July.

The minutes of the FOMC’s September meeting revealed that some policymakers felt increasing the scale of Fed’s asset purchases would improve the recovery, stressing the importance of ability to increase asset purchases if the economic outlook worsened. The Fed minutes said that policymakers judged costs of growth being weaker than anticipated could be relatively high while expecting inflation to remain subdued for some time amid substantial resource slack

 by Korman Tam

Greenback Slumps on Shift to Riskier Assets

 The dollar’s respite proved short-lived as traders resumed selling the currency in the Thursday session, pushing it to a fresh one-year low against the Australian dollar at 0.9088 and two-week low against the euro at 1.4816. The equity, commodity and energy markets were in lockstep as spot gold touch record high for its third consecutive session past the $1,055 per ounce level and crude oil edging back above the $70 per barrel level near $72. The major US equity bourses also climbed higher, with the S&P 500 and Nasdaq advancing by nearly 1% in the afternoon session.

The economic data released earlier in the session saw weekly jobless claims improve to 521k from 551k a week prior and the August wholesale inventories slip by 1.3% from a 1.4% decline in the previous month. Speaking earlier today was Richmond Fed President Lacker reiterated that the economic outlook remains unchanged from the previous FOMC meeting, adding that the risk of sliding into a recession again in 2010 has diminished substantially. He also quelled speculation of impending rate hikes advising that the Fed should not tighten policy today.
by Korman Tam

Greenback Recovers, Eyes ECB, BoE

 The greenback stabilized following yesterday’s steep declines against the major currencies, pushing the euro beneath the 1.47-level to 1.4660 while holding the Aussie below the 0.89-figure. There was a dearth of US economic reports in the Wednesday session prompting foreign exchange traders to take their cues from the equity and commodities markets. Spot gold extended gains to a new record high at $1,048.20 per ounce while oil drifted beneath the $70 per barrel level to settle at $69.57 per barrel. Meanwhile, US equity bourses were slightly lower with the Dow Jones posting a 0.40% decline and both the Nasdaq and S&P 500 were marginally lower.

The economic calendar for Thursday will see weekly jobless claims, which are expected to ease to 540k, wholesale sales, seen edging up to 0.70%, and wholesale inventories, anticipated to post a 1.0% decline.
by Korman Tam

Aussie Spikes on Surprise RBA Move

The dollar sold off sharply in the Tuesday session, tumbling to its lowest level against the Aussie since August 2008 at 0.8917 and slumping versus the Canadian dollar to its lowest level since September 2008 at 1.0549. Commodities climbed higher, with spot gold touching a fresh record high beyond the $1,040 per ounce level and crude oil edging up past the $72 per barrel level. The catalyst for part of the move was unsubstantiated rumors that the Mid East oil producing nations would soon abandon the US dollar as the pricing currency for oil.

The US economic calendar is light this week, with the reports due out toward the latter half of the week including weekly jobless claims, wholesale sales, wholesale inventories and the August trade deficit.
 by Korman Tam

USD Rallies on Soft Manufacturing Data

The greenback advanced against its major rivals in the Wednesday trading session, edging higher against the euro toward the 1.46-level, while pushing the pound sterling to beneath the 1.60-figure and briefly dragging the Swiss franc to a 3-week low at 1.0447. The catalyst for the dollar’s gains was a sharply weaker than forecast report on Chicago PMI. Consensus estimates were looking for the PMI report in edge up higher beyond the key 50-level to 52.0, instead falling to 46.1 in September from a 50-reading in the previous month. The employment component edged up slightly 38.8 from 38.7 in August and the new orders index slumped to 46.3 from 52.5 previously.

The markets largely reacted to the weaker manufacturing figures with the US equity bourses losing ground early in the session and the riskier currencies relinquishing previous session’s gains versus the dollar. The final release of Q2 GDP revealed an improvement to -0.7% from -1.0% in the previous reading while the GDP deflator remained unchanged. The Q2 GDP sales component improved to 0.7%, up from 0.4% previously. Meanwhile, the September ADP private sector payrolls revealed a loss of 254k, versus an upwardly revised loss of 277 jobs from August.

The key highlight this week continues to be Friday’s September labor report. The market is expected the unemployment rate to creep higher to 9.8%, up from 9.7% a month earlier. Non-farm payrolls are seen improving in September, with a loss of 188k jobs compared with 216k jobs shed in August.
by Korman Tam

Pound Gets Hammered by King

The greenback climbed higher against the majors amid weaker US data and a pullback in commodities prices. The major stock indexes drifted lower, with the Nasdaq and S&P 500 sliding by over 1% and the Dow Jones drifting lower by 0.5%.

Weekly jobless claims improved from the previous week, declining to 530k from 545k. However, August home sales eased up, slipping 5.1 million units from 5.3 million units a month prior.
by Korman Tam