Forex Signals Brief for Mar 29: It’s All About the Commodities and USD
Rowan Crosby • 2 min read
On a day that saw the USD find some strength, it was the commodities and commodity currencies that were our focus. The FX Leaders Team had a busy day and found multiple winning trades in Gold and the USD/CAD.
The rising Greenback was also a boost for our long-term GBP/USD signal. It sold off sharply and hopefully it has turned the corner.
Meanwhile, the cryptocurrencies have been having a rough time. There has been selling across the board in the past seven days, but fortunately for us, we are still in the green with our signal.
This might be the last trading day before the Easter break, but keep a close eye on the forex signals page as markets are very busy at the moment. And most importantly there are plenty of opportunities.
Forex Signal Watchlist
EUR/USD – The USD rallied and the EUR/USD is headed towards a couple of major support levels.
GBP/JPY – The Yen has been one of the weakest currencies over the past few sessions and crosses are all pushing higher.
Oil – All eyes are firmly focused on resistance at 66.00.
DAX – The DAX has sold-off inline with world markets but has been finding a bit of support.
Live Forex Signals
GBP/USD – USD On the Up
The strong rally in the USD came on the back of a positive GDP print. And that’s just what the doctor ordered for our GBP/USD signal. The chart now looks a bit toppy and some prolonged downside would be ideal. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – Battling 8,000
Bitcoin has had a very tight range in the last few sessions and is really just hovering around 8,000. Digital currencies across the board have been weak and there aren’t many buyers. Support is still there at 7,400 should we need it. Our profit target is at 11,640.
BTC/USD – 240 min Chart.