In our example we are using Meta Trader 4 which is the #1 trading platform for Forex traders. We also will be using the EURUSD as an example which is one of the most popular Forex pairs to day trade. We breakdown the best forex strategy with 6 simple rules. Forex day traders can make anywhere from 1-5% of the total account each day. We have a great article on risk you can find here if you want to find the best risk management strategy. Designed for new and developing traders, MarketMilk™ is a visual technical analysis tool that simplifies the process of analyzing market data to help forex and crypto traders make better trading decisions.

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Provides a snapshot of the eight major crossrates to the U.S. Barchart is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve our web experience, and encourage users to Contact Us for feedback and accommodation requests. Actionable ideas and risk management for Gold, Silver, and metals . Bitcoin advancing to new 1-month highs on risk rally. XAU/USD had a rough session on Wednesday as we are now below the $1700 level. The NASDAQ 100 Index rallied significantly on Wednesday to break above the resistance barrier that has been so difficult to deal with over the last several weeks.

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Keep track of your preferred markets with customisable watchlists. Our traders are expert trading the forex currency pairs minor/major, we only trades when our strategy can be apply correctly.

  • Technical analysis shouldn’t be overwhelming, and our Forex technical analysis is designed for traders at all levels.
  • Especially on these lower time frames as price can move rapidly.
  • At DailyForex, we’re out to prove that free Forex signals can be just as trustworthy as expensive signal subscriptions.
  • The EUR/USD currency pair recovery accelerated after the strong European consumer inflation data.

Watch videos, read articles, and learn all about the world of Forex at Because this Day trading Forex strategy can be both a sell and a buy strategy, I want to share an example of a sell setup. We always recommend you have a Stop loss with any trade you take. Especially on these lower time frames as price can move rapidly.

Historical Data

Keep close tabs on overall risk sentiment, which could make a U-turn during Canada’s CPI report, Uncle Sam’s oil inventory release, or any tension escalation between Russia and Europe. Learn daily forex how to trade forex in a fun and easy-to-understand format. With recession looming in the US, some analysts say the Fed may change its monetary policy, which would be good for gold.

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Get commentary on the Forex and Currencies markets from industry experts. The is once again in the early stages of trying to form a major bottom with this week’s green weekly candle trying to push above last week’s high. Any daily close above descending daily forex wedge resistance… Get more sophisticated live signals directly to your mobile phone. The S&P 500 Index rose again Wednesday as we continue to see this market recover. Sign up to get the latest market updates and free signals directly to your inbox.

News & Analysis

Please make sure that you fully understand the risks involved, taking into consideration your investment objectives and level of experience, before trading, and if necessary, seek independent advice. The EURUSD is up as investors react to a stronger-than-expected German GDP report, say dealers. Flows have been thin during the session, magnifying the impact. The pair is at USD1.4260, up from USD1.4228 before the release. Germany reports its 1Q GDP rose 1.5% on quarter, much better than the market consensus for a 0.9% increase.

What Is The Best Strategy For Forex Day Trading?

The BTC/USD price rose to an important resistance level as the mood among investors rose. The lira fell against the dollar during European trading this morning, as the lira recorded its lowest level ever against the dollar, after breaking its lowest levels recorded earlier this year. The West Texas Intermediate Crude Oil market gapped lower to kick off Wednesday but then turned around to recapture the $100 level. The US Dollar continues to advance and reaches new long-term highs against other major currencies. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

4 to 10 signals daily with an entry point, Take profit, Stop Loss and 85% accuracy directly on Telegram. The Forex Market Map provide a quick visual view of the foreign exchange markets and how they are performing on the day, as well as how they are performing versus other major currencies.