Forex Signals Brief for Apr 26: All Eyes on the EUR/USD
Rowan Crosby • 2 min read
Markets will clearly be focused on the outcome of the ECB interest rate decision on Thursday and attention will be on the EUR/USD. No one can quite predict what ECB President Mario Draghi will be thinking, but we do know that the USD will be putting pressure on the Euro. If we get more dovish undertones, the EUR/USD could well be in for a fall.
That would suit the FX Leaders Team as we have currently got an open short EUR/USD signal. We have a number of positions on at the moment including the USD/CAD, EUR/CHF and our GBP/USD long-term position.
Yesterday we managed to grab a couple of winners in the AUD/USD and the CAC with only the one signal in the red. So overall another strong day.
It looks like we are going to have a busy finish to the week, with the ECB today and US GDP on Friday. As well as having a strong USD. So I suspect we’ll have a few opportunities in the next few sessions.
Forex Signal Watchlist
Gold – Gold has been drifting lower thanks to a strong USD and we are looking at a move to key support.
GBP/JPY – We are inching higher and in need of a pullback to find a long signal.
Live Forex Signals
GBP/USD – Gaining Steam
The GBP/USD is back at support after another strong session by the USD. This time around we might be in for a break and that should take us back to breakeven. The momentum is building as money is flowing into the USD. The take profit target is at 1.3237 in our long-term position.
EUR/CHF – Just Missed our Take Profit
We missed our take profit by a couple of pips on a few occasions. Since then we’ve pulled back a touch which is quite annoying. Hopefully, we can move forward again but much will depend on the outcome of the ECB. The take profit target is at 1.2003.