Forex Signals Brief for Feb 26: Fed Chair Powell Set to Shake-Up the Majors
Rowan Crosby • 2 min read
The FX Leaders Team finished last week on a really strong note. The lads nailed four winning signals, which came from the AUD/USD, NZD/USD, DAX and CAC. There was only the one trade in the red, making for a huge day out for our followers.
There has been some movement around lately which has mostly been coming from the USD. This week the Greenback will once again be the focus of traders as the new Federal Reserve Chairman Jerome Powell will be testifying in front of Congress. That means the majors are going to be seeing a fair bit of action and there might just be some strong moves for traders.
As it stands our current positions are looking pretty healthy. The AUD/USD and GBP/USD positions have benefited from the strong USD and are on track. While we took the opportunity to open a short-term sell signal in the EUR/USD as it appears the bears are in control at the moment.
Meanwhile, Bitcoin (BTC) investors got a bit of a shake-up on Friday as they discovered that the IRS is gunning for their share of any profits. The news has seen Bitcoin fall away below the all-important 10,000 level.
On the economic data front, we have a huge week that features, US GDP, Eurozone CPI and of course non-farm payrolls. There is bound to be a lot of action over the next five trading sessions so don’t miss out on any potential moves and keep the forex signals page front and center.
Forex Signal Watchlist
NZD/USD – The Kiwi gave us a winning signal on Friday and we are back looking for the trend to continue.
GBP/JPY – We have major support level just below us that we are trying to buy at. The choppy action might help us get filled.
Live Forex Signals
EUR/USD – Bears Are in Control
The Euro has been falling away over the last few sessions. That goes hand-in-hand with a rally in the USD. We have found a short signal as we are looking for more downside. Our profit target is at 1.2273 which is just below current support.
EUR/USD – 240 min Chart.
AUD/USD – The Slow Grind Lower
The AUD was good to us on Friday as our short-term signal hit our take profit target. Our longer-term play continues to grind lower which is nice. A bit of USD strength this week will go a long way to pushing this trade where we want it. The take profit target is still at 0.7650 in our long-term position.
AUD/USD – 240 min Chart.