Forex Signals Brief for Feb 22: Three From Three as ECB is in Focus
Rowan Crosby • 2 min read
The FOMC Minutes have come and gone and the focus for traders now turns to the ECB. I’m not expecting as much fanfare, however, the Euro will once again be in the spotlight.
Despite some volatility in the USD, the FX Leaders Team did a great job on Wednesday and nailed three out of three signals.
Wins came by way of the USD/JPY and two in the GBP/JPY. Out longer-term signals also got a nice boost with the AUD/USD and GBP/USD moving towards our profit targets.
Our Bitcoin (BTC) trade is back below the 11,000 level and we are looking at another test of 10,000.
I’m not expecting the same level of volatility in today’s trade, however, there is plenty of economic data about. So keep the forex signals page open as we have an interesting close to the week.
Forex Signal Watchlist
Gold – The yellow metal has been on the decline recently however, we are nearing support and looking for a turnaround.
AUD/USD – The Aussie is weak as yesterday’s rally in the USD has kept the trend going.
CAC – Equities have been falling all week and futures are pointing to another leg lower today.
Live Forex Signals
GBP/USD – GDP to Set the Tone
The pound trade has been going well for us, but today we run into a big economic data release in the form of UK GDP. A weaker than expected number will be a big help to our trade as we head back into breakeven territory.
GBP/USD – 240 min Chart.
AUD/USD – The Downtrend Gathers Steam
The AUD has been weak over the last few sessions and an appreciating USD has helped. The FOMC minutes saw a whipsaw in the USD yesterday, but by the close of trade, momentum was back up. The downtrend is looking good and this signal continues to look good. The take profit target is still at 0.7650 in our long-term position.
AUD/USD – 240 min Chart.