Forex Signals Brief for Mar 19: What’s the Fed Going to Do?
Rowan Crosby • 2 min read
All the attention will firmly be on US Federal Reserve Chairman Jerome Powell and the FOMC this week. Markets are pricing in a rate hike, in what might be one of three or even four this year. That means the USD will be the major focus of the week in what is an important one for traders.
Friday was a productive day for the FX Leaders team, finding three winners and one loser. The highlight was certainly closing out our long-term AUD/USD trade for a massive profit. The Aussie tumbled against the USD and we were ready and waiting to cash in.
At the same time, we opened a new Bitcoin trade. Our past position got taken off in a system error but it was trading around breakeven at the time.
We are also currently in our EUR/USD long-term short position, which is performing well. As well as our GBP/USD trade and a EUR/CHF short.
The week looks like it will start slow and get busy. So be ready and waiting with the forex signals page for all the latest as it happens.
Forex Signal Watchlist
Gold – Gold has been softening up, although a rate hike is often a bullish indicator for the yellow metal.
GBP/USD – Brexit talks continue to dominate short-term moves in the GBP/USD and we might have more in store this week from the BOE.
Live Forex Signals
EUR/USD – Nice Move Lower
Our signal moved into profit territory thanks to a nice fall on Friday. As the USD has strengthened the Euro has fallen away and this trade is well and truly on track. We will have to wait on the Fed before we get too ahead of ourselves though. The take profit target is at 1.2055 in our long-term position.
EUR/USD – 240 min Chart.
Bitcoin – New Position
Our previous Bitcoin position got taken out as we hovered around breakeven. It was effectively just a system error. But since then we’ve seen more downside in the digital currencies across the board. While we are in a range this is a good opportunity to look for a bounce after a rough weekend saw more selling pressure. Our profit target is at 11,640.
BTC/USD – 240 min Chart.