Forex Trading Money Making | AUD/USD Forex pair | Trading signals #7

Welcome back, traders and true believers of Forex Trading.

Welcome to the McDuck trading family.

In our previous post, we traded Great British Pound / Canadian Dollar Forex pair with a Tools Trades signal, if you missed it, make sure to check it out!

Today our Forex pair of choice is going to be the Australian Dollar / United States Dollar, considering that the market is volatile at the moment, we are going to see what is the most effective strategy we can use and how much profit we can make.

Our broker for this trade is going to be Libertex, for now, I have have had a satisfying experience with them, however, I still prefer to use IQ Option for the majority of my trades.

When it comes to trading signals, our provider for this trade is going to be Tools Trades. We did an in-depth review of the services, so if you want to learn more about Tools Trades make sure to check it out.

If you do decide to give them a try, don't forget to use the promo code #SHIVINVEST when you sign up for a Tools Trades account in order to receive additional free trading signals.

Looking at the Technical analysis we can see that we are unable to make a unanimous decision based on them. The summary is pointing us in the buying position, however, if you take a look at the factors, you can see that they are tied.

Oscillators are barely in favour of the selling position and Moving Averages are barely in favour of the buying position. In situations like these, it is wise to obtain more information.

You should supplement your Technical analysis with the Fundamental analysis and trading signals.

Before we move on to Fundamental analysis, let's look at the chart below.

A moderate bearish trend has been present, however, there is some resistance at the moment, if we are able to jump on the bullish wagon, and exit before the bearish trend takes over we can make some easy money.

Let's not get ahead of ourselves, we have more factors to take in consideration first.

Our Fundamental analysis is going to be based around the Economic calendar.

For the Australian Dollar / United States Dollar Forex pair we have six events today that are going have an impact on the market. Their impact is rated low to moderate, however, that doesn't mean that we can't use that to our advantage to make a profit.

The events that we should be watching out for are:

1. Retail Sales m/m (AUD)

2. Flash Manufacturing PMI (USD)

Retail Sales m/m (AUD) - A monthly report from the Australian Bureau of Statistics, it is the earliest look at vital consumer spending data, and without a doubt, it's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

Flash Manufacturing PMI (USD) - This report is released by Markit, it is a monthly released report as well, this one shows us the level of a diffusion index based on surveyed purchasing managers in the services industry. It's a leading indicator of economic health, as businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

Considering that we have managed to obtain a lot of relevant information so far, it is time to start trading, however, first of all, we are going to be getting a trading signal from Tools Trades.

As you can see, the signal we received from Tools Trades is telling us that the buying position is optimal for this trade. The Take Profit and Stop Loss values are going to keep us safe in case we decide to trade for the full duration.

My preference is to keep my trades short when it comes to trading in the volatile market.

As I do not take unnecessary risk, I was able to make 525.07€ using quality research and the trading signal from Tools Trades.

That is everything for today, feel free to check out the video below on this topic, stay safe and I will see you soon with more tips and tricks, trading signals and guidelines for Forex trading!

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