Forex Signals Brief for Mar 28: Markets Waiting on US GDP
Rowan Crosby • 2 min read
Wall Street copped a whack on Tuesday, after what looked to be a promising opening. Equities sold off while the USD managed to find some ground. It was a strange session and there will be a lot of nervous investors out there hoping that US GDP will come in strong. If it doesn’t we might be in for more of the same on Wednesday.
The FX Leaders Team ended up with a few signals in the red, however, we still have a number of open trades. They include positions in the NZD/USD and USD/CAD.
Our long-term signals were helped by a rally in the USD as we saw our GBP/USD signal sell-off, which is ideal. Bitcoin is still treading water around the 8,000 mark, but the good news is that we are still green after what was an excellent entry point.
US markets are very shaky at the moment so keep the forex signals page open to make the most of any opportunities.
Forex Signal Watchlist
EUR/USD – The USD found its feet a little but the trend remains to the downside. That is giving us a look at a long entry in the Euro.
Oil – We hit resistance and price got whacked straight back down. There might be a short on offer here.
Live Forex Signals
GBP/USD – USD Tumbles
A pound fell on Tuesday which is exactly what we wanted to see. If we get a strong GDP print out of the US, the Greenback might just get some more upside, which would be ideal. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – Flat for Now
Bitcoin has been hovering around the 8000 level and hasn’t seen all that much action this week. Even if we sell-off further we still have some more support below that will hold us up for the time being. Our profit target is at 11,640.
BTC/USD – 240 min Chart.