Forex Signals Brief for Apr 2: US Jobs the Focus of the Week
Rowan Crosby • 2 min read
Given the Easter weekend, we haven’t seen all that much action on forex markets. Equities and Futures have been closed and there was only some limited action in forex and the cryptocurrencies late last week.
Easter Monday is a holiday in many countries around the world so again we are possibly in for a low volume day. However, traders in the US will be back at their desks.
As such, little has changed since Friday. We are short the AUD/USD which has been in a steep downtrend. While we are long the EUR/CHF.
It looks like our GBP/USD signal has turned the corner and some weakness came back into the pair late last week.
However, Bitcoin continues to look weak as do all the cryptocurrencies. BTC is trading below 7,000 with not too many buyers in sight.
Like I mentioned, US traders will be present on Monday but it is a holiday in many countries. We will be keeping the forex signals page updated throughout the day, so be sure to keep an eye out for any updates or new signals.
Forex Signal Watchlist
S&P 500 – US Stocks are sitting on a knife’s edge at the moment and there might be more downside ahead.
EUR/USD – We are still somewhat range bound with strong support below.
GBP/JPY – A weak Yen was also the story of last week and we suspect this will continue.
Oil – The question is whether overhead resistance can hold
Live Forex Signals
GBP/USD – On the Decline
The end of last week was good for our GBP/USD signal. The strengthening USD helped and momentum to the downside is growing. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – More Weakness
Bitcoin continues to decline with a real lack of buying interest. When most markets were closed BTC fell away sharply and we are now sitting below 7,000. 6,000 support might be the last chance for this one. Our profit target is at 11,640.
BTC/USD – 240 min Chart.