Forex Signals Brief for Mar 7: Five Winners as Forex Markets Get Active
Rowan Crosby • 2 min read
There sure is a lot going on in the trading world at the moment. US President Trump and his tariffs have certainty fired things up. At the same time, we have a range of central banks releasing their interest rate decisions this week, with the BOC today. And that’s before we even mention US employment on Friday.
Despite the heavy newsflow, the FX Leaders Team had a day out on Tuesday, nailing five winning signals with only the one loss. A falling USD helped us find two winners in Oil and Gold, while we also racked up profits in the EUR/JPY and GBPJPY. Ahead of the BOC today we just locked in a win in the USD/CAD as it tries to hold onto resistance turned support at 1.2900.
The falling USD was good for our short signals but didn’t help our longer-term positions in the AUD/USD and GBP/USD. However, the trend is still being good to us during the Asian session.
Bitcoin (BTC) was the other story of the day as it once again failed to poke its head above 12,000. We are now falling away and in-line for another look at 10,000.
It’s a great time to be trading so keep the forex signals page open as it’s going to be a very busy end to the week.
Forex Signal Watchlist
GBP/USD – The weak USD has seen the pound rally and this might be a good chance to add to our long-term position.
CAC – US Equities have slowed a touch and we are looking for more downside in world markets.
Live Forex Signals
AUD/USD – Back on Track
The Aussie rallied hard yesterday thanks to a weak USD, however, in Asian trade, things are back on track for us. There’s plenty of selling thanks to a number of data releases over the last 24 hours that have finally caught up with the Aussie. The take profit target is still at 0.7650 in our long-term position with stops at breakeven.
AUD/USD – 240 min Chart.
BTC/USD – Resistance Standing in Our Way
For whatever reason, we just can’t seem to push through resistance, which sits just below the 12,000 level. We’ve tried on three occasions and there hasn’t been enough buying interest for us to move higher. There was limited news pushing price down, so I expect the technical levels to be in play with 10,000 now back in focus. Our profit target is at 12,900.
BTC/USD – 240 min Chart.