Forex Signals Brief for Feb 20: Three Winners as Bitcoin Breaks Out
Rowan Crosby • 2 min read
The trading week started slowly thanks to the holiday in the US. However, the FX Leaders team were up and about and found some excellent trades in quiet conditions.
The guys nailed three winners in Gold, the DAX and the EUR/JPY. There was just the one trade in the red coming from the USD/JPY. So a pretty good start on what was a day of lighter volumes.
We are still sitting in the NZD/USD, USD/JPY and the EUR/CHF trades and we will know more about their progress as US traders return on Tuesday.
Our long-term signals were little changed with the AUD/USD and GBP/USD still going nicely for us.
Our Bitcoin (BTC) trade has made massive strides forward in the past few sessions. We are now getting set for a crack at the 12,000 resistance level. Our profit target is in sight and this trade is looking really good now.
The week is just starting to heat up, so keep the forex signals page as we have plenty of action ahead.
Forex Signal Watchlist
CAC – Equities are due for a correction after five strong sessions last week. Europe was weak on Monday and we are wanting to buy the dip.
Gold – It looks like we are putting in a bit of a top in gold at the moment. We are looking for a sell signal should the price action hold up.
Live Forex Signals
Bitcoin – Breakout Mode
Bitcoin has had a huge couple of sessions and has broken out of every technical level that has been put in its way. The next challenge that it faces is 12,000. If we can test that area and hold then we will be knocking on the door of our profit target of 12,900 in what has been a great trade.
BTC/USD – 240 min Chart.
AUD/USD – RBA Doesn’t Rattle the AUD
The RBA minutes have come and gone and there was nothing new that had any impact on the Aussie. The path is now still to the downside and that’s good for us. We have also moved our stop to breakeven on this trade. The take profit target is still at 0.7650 in our long-term position.
AUD/USD – 240 min Chart.