Forex Signals Brief for Feb 19: Central Banks the Focus of the Week for Traders
Rowan Crosby • 2 min read
The trading week might have a slow start thanks to President’s Day in the US and the Chinese New Year. However, it looks like it will be finishing with a bang thanks to a heap of economic data. That means there is volatility on the horizon which is good news if you’re a trader.
We didn’t close any signals on Friday, but we did manage to enter a few new short-term positions. As it stands we are now in the NZD/USD, USD/JPY and the EUR/CHF.
Our long-term signals went well on Friday as we saw some upside in the USD. As it stands our positions in the AUD/USD and GBP/USD are travelling nicely.
Our Bitcoin (BTC) signal is still currently holding above 10,000 and even testing 11,000. This trade is starting to look really looking good.
Today might be quiet but the week ahead looks like it will be action-packed. So keep the forex signals pagefor all the latest trade setups as the week progresses.
Forex Signal Watchlist
DAX/CAC – Equities moved higher all week, but were relatively flat on Friday. It might be a turning point and we will be looking to buy a bounce.
Live Forex Signals
GBP/USD – Top is in Place
The USD strength helped our position on Friday. I think the monthly high is now in place and it is only downside ahead which is good for us, as our stop is above that level. The take profit target is still at 1.3237 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – Profit Target in Sight
Bitcoin has been a massive trade so far. After tumbling to 6,000, buyers swept in and we are now sitting nicely above the 10,000 mark. Price is testing 11,000 and we are inching towards our upside target of 12,900.
BTC/USD – 240 min Chart.