Forex Signals Brief for Feb 8: USD and Cryptos Lead the Charge
Rowan Crosby • 2 min read
We’ve had a busy start to the week as markets have been all over the place. For the most part, the major volatility has been in the indices and cryptocurrencies, but yesterday we saw the USD start to get moving as well. That means the majors will be in focus in the coming days if the USD can keep gaining steam.
The FX Leaders team scored three and three yesterday. We had wins in the EUR/CHF, Litecoin and the DAX.
Our long-term positions had a really great day as the US Dollar strength helped both the AUD/USD and GBP/USD. At the same time, the cryptocurrencies really jumped higher giving us a win in our Litecoin (LTC) trade and a nice bump up in Bitcoin (BTC).
As I mentioned the USD is gathering some pace so keep the forex signals page open for any developments in the majors.
Forex Signal Watchlist
USD/JPY – The Greenback strength will see more upside in the Yen.
S&P 500 – I suspect there is more downside ahead in US equity markets so don’t miss the next big move.
Live Forex Signals
AUD/USD – The AUD Falls Back Down
It was a good day for our AUD/USD position as the strong USD helped push us down some more. If we can crack the current support level, there isn’t going to be much standing in our way as we head to our target. The take profit target is at 0.7650 in our long-term position.
BTC/USD – More Weakness
Bitcoin (BTC) has made a huge recovery and is now back up at the 8000 level. Only yesterday we were trading sub-6000 and things were looking a little shaky, to say the least. This is a big resistance level so it might be tough to crack. Our upside target is at 12900.