Forex Signals Brief for Feb 15: Four Winners While the Market Follows Random Walk
Arslan Butt • 2 min read
It’s been a really volatile week so far, as the investors traded some high impact economic events. The market can adjust itself against the shocks extended by the US CPI and Retail sales yesterday.
US PPI, Philly Fed Manufacturing Index, and Unemployment Claims are at the top of the list, which may drive the market movements today. Do check our Feb 15 – Economic Events Brief for details explanation of these events.
Yesterday was another positive one for the FX Leaders Team as we managed to nail tour winners and two losers. Wins came in the USD/JPY, USD/CAD, GBP/USD and Gold with the red mark coming in the EUR/CHF and AUD/USD.
Talking about forex trading signals, our long-term signals with the AUD/USD and GBP/USD are soaring on the latest weakness in the dollar. Whereas our Bitcoin (BTC) position is doing well as the price crosses above $9500 and bullish trends seem stronger.
Forex Signal Watchlist
EUR/USD – The EUR/USD has been moving higher this week and with the USD weakness, there might be more buying ahead. We will be looking to short the pair when the prices reach a solid level.
DAX – The German stock market index closed bullish and it’s likely to continue its bullish momentum. We will be looking for a buy opportunities today.
Live Forex Signals
WTI Crude Oil – Testing 50 Periods EMA
The Crude Oil finally gain some support yesterday after the EIA reported less and forecasted build in inventories. As you know, the investors were looking for one reason to buy this oversold commodity. Anyways, we have shorted the Oil to catch the retracement below 50- periods EMA at $61.40.
WTI Crude Oil – 240 – Min Chart
AUD/USD – Testing Resistance Zone
The USD fell dramatically despite the release of better than expected CPI. Hence, driving solid gains in the AUD/USD, however, the Aussie is now testing a significant resistance level of 0.7950. Below this, the trend remains in our favor.
AUD/USD – 240 – Min Chart