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Forex signals, in their most basic form, are trading recommendations that try to predict which way a certain currency pair is likely to move in the very near future. A time and price at which the transaction should be executed are suggested by the proposal, which may come from a human analyst or an automatic signal provider. The fundamental idea behind forex signals is that they are meant to notify you whenever a prospective trading opportunity presents itself.
Let's take the case when the forex signal service is monitoring EUR/USD. The underlying program detects that EUR/USD is very overbought, indicating that a corrective period is imminent for the pair. The underlying software determines that 1.21, which it predicts will happen soon, is a great entry point for the trade.
A free service and a premium subscription plan are the two forex signal alternatives we provide. More will be spoken about this later.
Regardless of the plan you are on, our automatic technology will do comprehensive technical analysis on a number of exotic currency pairings as well as the majority of main and minor currency pairs.
When a signal is found, we will let our members know about it via the BeoForex Telegram group.
This is the currency pair to which the BeoForex signal applies. This will often be either a major or minor pair. However, the algorithm will always make sure that members are informed whenever it discovers a chance in the exotic currency space.
The algorithm's findings are briefly summarized in the forex signals. To put it another way, this serves as the foundation for the BeoForex signal that you will afterwards trade. The indication in the example above notes that GBP is significantly overbought on the RSI (Relative Strength Index).
For those who don't know, one important technical indicator used by traders is the RSI. This helps the algorithm as it searches the markets for trading opportunities, along with hundreds of other cutting-edge charting tools. Subscribe to our forex trading signals now!
The most effective trade entry point will also be determined by the BeoForex algorithm. The signal in this instance advises placing a sell order on the GBP/USD pair around 1.3560. The trade becomes live if the price is activated.
One of the two exit prices offered by the BeoForex signal is this one. The price at which the trade will be automatically closed if the signal's forecast is incorrect is referred to as the stop-loss price.
It is crucial since it guarantees that your losses are always minimized.
Similar to a stop-loss order but in reverse, this works similarly. When a specified profit point is reached, for instance, the signal informs you of the price at which the deal should be concluded. As a result, you won't need to spend hours sitting in front of your computer watching for the trade to close itself.
While it is true that BeoForex also provides a subscription based signal service, we also offer a lot of free forex signals to individuals who haven't yet signed up. Yet why? We are aware that the market for forex signals is flooded with shady services that promise absurdly huge returns. The free Telegram group can be found here.
But in practice, a lot of these service providers fall short of their sweeping promises. Unfortunately, customers don't know this until after they've already made a subscription payment or, worse, a one-time lump sum payment.
In light of this, we offer our free users three signals each week without requiring you to sign up. You can receive our signals via the Beoforex Telegram channel and, of course, test them out before deciding to use them.
You will have access to our whole members' room if you later opt to upgrade to the premium plan. This implies that you will receive up to three signals day, five days a week.
With our 30-day money back guarantee you’ve got absolutely no reason not to give us a try. You won’t regret it.
Trade with confidence with BeoForex premium signals service. Make the best of the financial market opportunities.