Forex Signals Brief for Apr 18: CPI and Rates in Focus
Rowan Crosby • 2 min read
It appears that markets have very quickly put politics behind us and are now focused on what the top-tier economic data has to say. Wednesday is shaping up as a massive one for the majors with a host of releases.
We will be watching CPI data out of both the UK and Eurozone. While we also have the BOC with their interest rate decision.
The FX Leaders Team had another positive day finding two winners and a single loser. We are currently hitting the majors hard and we are long the AUD/USD, GBP/USD and USD/JPY. While our long-term trade in the GBP/USD remains intact.
Our Bitcoin signal appears to have been taken out once again in what was a system error. This has happened before with Bitcoin. I’ll have a few ideas as to what our followers can do in the section below.
It should be an interesting day for the forex purists out there with rate decisions and CPI. So keep the forex signals page open as the team will be across all the latest developments.
Forex Signal Watchlist
S&P 500 – Markets are in risk-on mode now and momentum is building.
Oil – Oil retraced and we got a build in inventories which might slow down the run-up for now.
Live Forex Signals
GBP/USD – Hedged Off
The GBP/USD has been strong for a number of reasons that I wrote about earlier today. We are long in the short-term to capitalise on the momentum, which will also hedge our longer-term trade. The take profit target is at 1.3237 in our long-term position.
GBP/USD – 240 min Chart.
Bitcoin – System Error
Bitcoin has been holding around the 8,000 mark and doing its best to find some buying interest. Our signal got taken out in what was a system error. So, unfortunately, we can’t re-enter the trade. However, we had entered at a good price and we are currently in profit. If you are still keen to maintain this trade, you could conceivably move your stop to break-even and freeroll this one.
Bitcoin – 240 min Chart.