Live Recommendations
The Canadian Dollar picked up momentum recently, by some accounts, in response to the rising crude oil prices. But that's not the whole story.
Technical Analysis
At DailyForex, we’re out to prove that free Forex signals can be just as trustworthy as expensive signal subscriptions. Our reliable Forex signals will provide you with expert advice about when to buy and sell the major currency pairs without costing you a penny. If you’re looking for daily signals, we recommend that you peruse our Forex trading signals reviews for a look at some of the best professional signals providers.
But if this is your first time using trading signals or you need reliable Forex signals only a few times a week, try our free Forex signals – we look forward to helping you trade successfully!
Looking for technical analysis of other currency pairs? Check out our daily Forex technical analysis.
What are Forex trading signals?
Forex trading signals are alerts telling the recipient to consider entering a trade, either at the market price or by a stop or limit order at another price. Profit targets and later updates about the trade are usually also given. Forex trading signals are a service used by traders who want precise tips on the market and can even be automated so the signal provider is effectively managing their account.
Are Forex signals legit?
Forex signals can be legit, but as in all aspects of retail finance, there are many signal providers who provide poor quality, unprofitable signals. Fake performance records are often presented. Legit Forex signals can be identified by verified and realistic profitable track records, which show several losing trades as well as winners.
How do Forex signals work?
There are different types of Forex signals, but usually Forex signals work by telling you at what price to enter a long or short trade in some asset, and at what price to put a stop loss and to take profit. The idea is that by following them, you will make profitable trades by following someone else’s instructions.
How to read Forex signals?
Forex signals usually tell you what to trade, whether to trade long or short, at what price you should enter the trade with a market, stop, or limit order, a stop loss price, and a take profit price. Usually, Forex signals are quite easy to read because they will spell these prices out very clearly.
How to use Forex signals?
Forex signals can be used mindlessly, just by following them. Forex signals do not usually tell you how much to risk per trade as a rule, so that is something that you will have to decide. Forex signals can be used more intelligently as an educational tool, by analysing each signal and trying to decide why the signal provider gave the signal. Alternatively, the user can forecast at the beginning whether the trade will be a winner or a loser, and review afterwards how accurate their forecasts are over a larger number of signals trades.
Are trade signals worth it?
If trade signals are purchased with the intention of following them to make money, they are only worth it if the cost of the trade signals is considerably less than the average profit generated by following the signals. In most cases, trade signals are not worth it.
Are Forex signals profitable?
Forex signals can be profitable, but most Forex signals services are not profitable. This is because it is easy to make money selling signals even if they are poor quality, and there are many unethical businesses doing so. If the signal provider can show a long-term profitable verified record, they are more likely to be profitable.
How do I get free Forex signals?
Free Forex signals can be found daily on this page, and from many other sources on the internet by a simple internet search of the phrase.