Forex Signals Brief for Mar 9: New Euro Signal as US Employment Takes Center Stage
Rowan Crosby • 2 min read
It has been a busy week on the news front and that continues on Friday. US employment data is on everyone’s mind and many will be wondering if it will provide another boost to the Greenback.
The FX Leaders Team had another strong day, collecting three winnings trades with only two in the red. We found wins in the GBP/USD, DAX and GBP/JPY.
The boys also took the opportunity to open a long-term sell signal in the Euro, thanks to some weakness after we heard from the ECB. That adds to our other long-term positions in the AUD/USD and GBP/USD, that benefited from the USD rebound.
Bitcoin (BTC) took some serious heat as price tumbled as we broke through 10,000. We found our way down to the previous near-term low of around 9,400. We’ve bounced off here before so let’s hope the bids stack up.
US non-farm payroll data is arguably the biggest event of the month, so keep the forex signals page open as there may well be some fireworks.
Forex Signal Watchlist
EUR/JPY – The EUR has been a little weak post-ECB and we are looking to sell if we can push into an area of resistance.
Live Forex Signals
EUR/USD – New Long-Term Sell Signal
The EUR/USD has started to fall away sharply after we heard from the ECB. Despite a positive Mario Draghi, it looks like the bears are taking over. That was helped by a rebound in the USD. The take profit target is at 1.2055 in our long-term position.
EUR/USD – 240 min Chart.
BTC/USD – 10,000 Cracks
Bitcoin suffered another big move against it yesterday. 10,000 has taken some heat and we are now down towards the 9,400 level. If that gives way we are potentially looking at some sharp downside. That said we’ve bounced off here before. Our profit target is at 12,900.
BTC/USD – 240 min Chart.