Forex Signals Brief for Mar 12: Time to Short the Euro?
Rowan Crosby • 2 min read
Markets had a busy end to the week, led by a stronger than anticipated jobs report out of the US. This week we have CPI from both the US and the Eurozone, that will garner the most attention as the new week gets underway.
Last week we saw some of the majors start to get moving. In particular, the EUR/USD started to look weak and the FX Leaders Team ended up opening two short positions. One long-term and one short-term.
On top of that, we are still in our AUD/USD and GBP/USD as the week gets underway, although both positions saw some upside on Friday. The guys are also long the EUR/CHF.
Bitcoin (BTC) ended up with a big fall on Friday. However come Monday in Asia, and price is back looking to test 10,000, such is the life of Bitcoin.
With both political news and economic data keeping us busy it looks like another active week on markets. So keep the forex signals page open for all the latest trading opportunities.
Forex Signal Watchlist
EUR/JPY – We’re looking for more EUR weakness and another short position.
Live Forex Signals
EUR/USD – Selling All-Round
We are currently short the EUR/USD in both a long and short-term position. The USD started making a run off the lows last week, which has put pressure on the shared currency. We are looking for some more follow-through this week. The take profit target is at 1.2055 in our long-term position.
EUR/USD – 240 min Chart.
BTC/USD – About-Face
Bitcoin looked to be in all sorts of trouble when US traders entered on Friday. We had broken through 10,000 and 9,400 support and things were looking shaking. But sure enough the buyers have swept in and we are grinding back towards the 10,000 level. This is an important test as we need to hold above 10,000 if we are to get any kind of momentum back. Our profit target is at 12,900.
BTC/USD – 240 min Chart.