Forex Signals Brief for Apr 12: Attention Back to the ECB and EUR/USD
Rowan Crosby • 2 min read
For the bulk of the week, the attention has been on the US. There’s been the trade war with China and some big data releases in the form of CPI and the FOMC minutes. Thursday, however, the attention is moving back to Europe. As the ECB is set to release the minutes of the March 2018 meeting. The EUR/USD has been relatively range bound of recent times and this might be a chance for some volatility.
The FX Leaders Team had another solid day yesterday, grabbing three more winners. They came by way of the USD/JPY, Crude Oil and Gold. There were no losing signals.
We are currently in two short-term positions in the NZD/USD and the EUR/GBP. While our long-term positions carry as normal in the GBP/USD and Bitcoin.
This is always an interesting day if you’re a EUR/USD trader, so keep the forex signals page open for any opportunities.
Forex Signal Watchlist
GBP/USD – The USD jumped on the FOMC, before retracing. Overall the GBP/USD has been quiet but due for a move lower.
S&P 500 – The markets pulled back yesterday after a big rally. There might be more in store here.
Oil – Oil has been on a rampage and is having a good look at major resistance.
Live Forex Signals
GBP/USD – Dollar Drifting
While the USD should have really jumped higher after a hawkish FOMC, it didn’t really have much power. As a result, it retraced on the day. That meant our signal didn’t do much. Hoping for some USD upside on Thursday. The take profit target is at 1.2055 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – Testing $7,000
Bitcoin continues to grind just below $7,000 in a bid to find more buying interest. The US tax deadline is fast approaching which many suggest is the reason for the weakness. Perhaps by this time next week, that will be over and done with. Our profit target is at 64.95.
Bitcoin – 240 min Chart.