Majors on Thursday: Pound Stars as Majors Get Busy
Rowan Crosby • 1 min read
The Pound was the big mover in Wednesday trade after what has been a volatile few days. The GBP has been pushing higher, thanks to more progress on Brexit talks. The USD/CAD also got moving. Gold finally dropped off sharply which is nice for followers of our forex signals.
Meanwhile, the US GDP helped the USD, although the US Dollar Index only managed to make up a little bit of ground by the end of the session. Looking at the charts, you can see that we tested the 50-SMA and put in a bearish candle. That marked the top and from there we got some selling. 93.50 now becomes important. If we can break above that we might just run back up.
AUD/USD – The AUD is looking very weak and 75 cents is up for grabs very soon.
EUR/USD – The Euro is sitting right on resistance turned support.
USD/JPY – Resistance at 112.00 has held for now. This one can go either way now.
NZD/USD – The Kiwi looks like it has based out and we had a winning long entry, which suggests there is a short-term bottom.
USD/CAD -The CAD is bullish and getting ready to test the highs.
USD/CHF – The Swissy is still tracking the USD. Evenly poised.
GBP/USD – The strongest performer thanks to Brexit talks and potentially more upside to come.
US Dollar Index (DXY) – The USD bounced on GDP, before retracing.