Forex Signals Brief for Apr 30: Time to Sell the Majors?

Posted Monday, April 30, 2018 by
Rowan Crosby • 2 min read

The USD and its resurgence continue to be the story at the moment and that is only going to build this week. We have both the FOMC interest rate decision and US employment, arguably the two biggest economic events. If we get a hawkish outlook and strong jobs then the USD might just continue its powerful rally.

The FX Leaders Team had a quiet end to the week. Nevertheless, we are now sitting in a number of new positions. We are short on a number of the majors. including the AUD/USD, the EUR/USD and of course our long-term GBP/USD position which is looking good. Further USD strength will have a positive impact today. We also have a short in the EUR/GBP.

The week might start a little slow as we have a few countries that will be on holiday. Don’t worry though because as the week progresses we will see a lot more action.

Forex Signal Watchlist

USD/JPY – Both the USD and JPY have been strong. However, we think the USD will continue to outpace the JPY, especially with the data coming out this week.

Nikkei – The BOJ didn’t bring too many surprises last week and we are looking for upside this week.

 

Live Forex Signals

 

GBP/USD – Smashing Support

The GBP/USD is still on a sharp downward spiral. Concerns out of the UK and a strong USD mean that we are now back at breakeven. If we break this new support level then there is huge downside potential. The take profit target is at 1.3237 in our long-term position.

GBP/USD
GBP/USD – 240 min Chart.

 

EUR/USD – Ride the Momentum

A dovish Mario Draghi, coupled with a buoyant USD has seen the EUR/USD come crashing down to earth. We’ve broken key support and we are eyeing more downside here. The take profit target is at 1.2097.

EUR/USD
EUR/USD – 240 min Chart.
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About the author

Rowan Crosby is our Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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