Forex Signals Brief for Mar 30: Stocks Surge – Easter Wrap
Rowan Crosby • 2 min read
It was equity markets that were the big news story on Thursday. We once again saw a bounce after a week marked by high volatility and a lot of big news. Today is Good Friday, which means that equity and futures markets will be closed. I’d also expect very limited volume for those trading forex or cryptocurrencies.
Yesterday the FX Leaders Team grabbed the one win in the S&P 500. Surging stocks made for a nice opportunity to the long side.
The guys also opened up new signals in the AUD/USD. Which has a strong downtrend in place. As well as a long signal in the EUR/CHF.
The USD stabilized a little after seeing a bit of upside, however, the GBP/USD sold off nicely. Our signal is looking a lot more healthy after the last few sessions.
The plight of Bitcoin continues to make headlines. Resistance held up and price has moved below 7,500.
Good Friday and possibly Easter Monday will bring very light volumes and small ranges. I don’t expect much trading to be occurring. However, you can stay updated on any new trade developments via the forex signals page. Enjoy the Easter break.
Forex Signal Watchlist
S&P 500 – US Stocks bounced hard on Thursday and we will be watching the momentum closely next week.
EUR/USD – Support at 1.2250 should bring in the buyers.
GBP/JPY – As the Yen declines this pair is trending higher.
Oil – Overhead resistance at 66.00 is the focus of all oil traders at the moment.
Dax – The DAX has been following US equities and support is holding up for now.
Live Forex Signals
GBP/USD – A Strong Sell-Off
Our GBP/USD signal has been great over the last few session as there has been a strong downside move. The USD also appears to be finding some bids which will only help us in the next week or so. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – Testing Support
Bitcoin has once again failed to find much buying interest at a key resistance level. This time 8,000 provided no help and we’ve fallen back down to our next support level at 7,400. While most markets are closed for Good Friday, there might be some more attention paid to Bitcoin. Our profit target is at 11,640.
BTC/USD – 240 min Chart.