Forex Signals Brief for Feb 7: 6 Out of 6 in Volatile Markets
Rowan Crosby • 2 min read
It’s been a wild start to the week for equity markets around the world. Volatility is at levels not seen in many years but that is also providing opportunities. These types of conditions are what traders live for.
The indices continue to be great trades for us and the FX Leaders Team had a day out yesterday, collecting six out of six winners. The boys had wins in the DAX and the CAC once again, as well as nice long trade in Ethereum (ETH). On the forex front, our NZD/USD hit our take profit after a nice rally and the EUR/CHF also cashed in. All-in-all, a massive day.
As it stands we have a slew of long-term positions in the wings. We are still long the AUD/USD and GBP/USD. While we have two positions open in the cryptocurrencies in both Bitcoin (BTC) and Litecoin (LTC). The cryptos fell sharply yesterday before having a sharp rally.
Volatility is high and we are seeing some strong trending markets so keep watching the forex signals page as there are some excellent opportunities available at the moment.
Forex Signal Watchlist
USD/JPY – Support is holding up in the Yen so watch for another bounce.
S&P 500 – We’re seeing volatility at levels not seen in many years. It’s a great chance to ride some big moves.
Live Forex Signals
AUD/USD – The AUD Gets a Bounce
The RBA has come and gone with little fanfare. Most of the focus has been on equity markets which overshadowed the day. The Aussie hit 0.7850 before bouncing back to 0.7900. However, the downtrend is still strong and intact. The take profit target is at 0.7650 in our long-term position.
BTC/USD – More Weakness
Bitcoin (BTC) has been on a massive ride in the last few days. Yesterday we plunged through 7000 and bounced off support at 6000. From that point, it was a massive whipsaw and we are now back above 7500 after tagging 8000 resistance. What a ride! Our upside target is at 12900.