Forex Signals Brief for Apr 25: Can the USD Continue to March Higher?
Rowan Crosby • 2 min read
Markets were busy on Tuesday, however, it was equities that were the most active of all. The S&P 500 had a big sell-off while we got some solid moves in Bitcoin and the commodities.
At this point in time, we are all watching the USD closely. It has begun to find some strength and the majors are getting active.
Yesterday the FX Leaders Team grabbed two winners from four trades. Finding wins in the EUR/GBP and DAX. As it stands we are short both the AUD/USD and GBP/USD, which have both been falling against the USD. While our EUR/CHF has marched forward and is now looking good.
The team are going to be watching the EIA Crude Inventories number closely on Wednesday as well as the direction of the USD. So keep an eye on the forex signals page as it is a busy time for traders.
Forex Signal Watchlist
Oil – We might have a double top in place, however, the EIA inventories are bound to shape today’s trade in CL.
GBP/JPY – We are trending higher and if we get an opportunity we are eyeing off a long signal.
Live Forex Signals
GBP/USD – Support Holding
The GBP/USD bounced off support on Tuesday, which coincided with the USD running into resistance. We are still happy to stick with the new downtrend and overall the GBP is looking weak against the USD. The take profit target is at 1.3237 in our long-term position.
EUR/CHF – Turn Around
We moved our stop loss in the EUR/CHF as we liked our entry point and it looks like a savvy move. The EUR/CHF turned around nicely and is now making a big rally towards our take profit target. We might even take this out in early European trade. The take profit target is at 1.2003.