Forex Signals Brief for Feb 14: The Majors in Focus Ahead of US CPI
Rowan Crosby • 2 min read
It’s been a relatively quiet start to the trading week as forex markets haven’t seen too many large moves. That could all change today as we are faced with a number of big economic data releases that will shake-up the majors.
US CPI, German GDP and US Retail Sales are the headline acts, which will see the majors and the USD well and truly in focus.
Yesterday was another positive one for the FX Leaders Team as the guys managed to nail three winners and one loser. Wins came in the USD/CAD, Gold and the DAX with the only red mark coming in the EUR/USD.
As it stands our long-term signals weakened with the AUD/USD and GBP/USD grinding higher. Although I expect more downside ahead. At the same time, we did use the opportunity to open a short-term sell signal in the GBP/USD.
Our Bitcoin (BTC) position is still tracking along OK with price needing to crack 9000 to really gain some momentum.
It should be a busy day ahead with the majors in focus so keep the forex signals page front and center for all the latest opportunities.
Forex Signal Watchlist
USD/CAD – The USD/CAD has been moving higher all month and with the USD strength there might be more buying ahead.
Live Forex Signals
AUD/USD – USD Facing a Test
The USD fell ahead of what is a big day with CPI due for release. However, the long-term trend is certainly with us. A good result will go along way to helping us hit our target. The take profit target is at 0.7650 in our long-term position.
AUD/USD – 240 min Chart.
GBP/USD – Short All-Round
The GBP/USD jumped a touch yesterday and that saw us add to our long-term sell signal, with a short-term position. The trend is also helping here and we are moving in the right direction. Our downside targets are at 1.3237 and 1.3857.
GBP/USD – 240 min Chart.