Forex Signals Brief for Mar 22: The Majors Spike on the FED
Rowan Crosby • 2 min read
Everyone in the world knew the FED was going to hike rates. It seems though, that the falling USD was a little more unexpected. Sure enough, as the Greenback fell on the news, the majors really outperformed.
As a result, we were quick to take off our long-term EUR/USD position for a slight profit. On top of that, we had two more winners, in what turned out to be a tricky day at the office. Only two signals ended in the red.
As it stands we are long the EUR/CHF in our only short-term position. While we are still short the pound despite the USD weakness.
Bitcoin was treading water to some degree after what has been a stellar few days for our long signal.
We have more central bank action today as the attention turns to the BOE. So keep watching the forex signals page as the GBP/USD has been an active trade for us recently.
Forex Signal Watchlist
Oil – A surprise draw in EIA inventories saw a big breakout in Crude Oil. However, resistance is not far away.
EUR/GBP – We are eyeing off a sell here when the price is right.
Live Forex Signals
GBP/USD – BOE in Focus
The GBP/USD got a big spike higher thanks to the FOMC. We made a nice profit on the move up which offset our longer-term signal which is short. The BOE will put this pair back into focus today. However, there is no expectation of a change in official rates. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – 9,000 Resistance Holds
Bitcoin has been a busy trade for us, with our signal immediately going into profit. Given the FOMC action, attention wasn’t on BTC and ranges were small. 9,000 resistance is holding for the time being. Our profit target is at 11,640.
BTC/USD – 240 min Chart.