Forex Signals Brief for June 5: Politics Can’t Rattle Markets
Rowan Crosby • 1 min read
The week opened with more clouds over financial markets and with investors increasingly nervous about the looming trade wars. It appears the fears were largely unwarranted and US stocks, in particular, kept on creeping higher.
Analysts are suggesting that the impact of tariffs and even potential retaliation from countries such as China, will largely be overshadowed by the benefits of some of the other measure we’re seeing. Including US President Trump’s tax cuts.
Looking ahead the economic calendar gets a little busier today, led by ISM Non-Manufacturing PMI out of the US and Services PMI from the UK.
Forex Signal Update
It was a relatively quiet start to the trading week for forex markets and the FX Leaders Team finished Monday with two wins from four trades. Early in the week can often be slow and I expect activity to continue to gain steam as the week rolls on.
Bitcoin – BTC continues to make higher lows in the short-term, however, the buying interest at higher levels still isn’t strong. If we can get a good price there is still the potential for a long position.
EUR/GBP – Active Signal
The EUR/GBP has been in a relatively tight range in recent weeks. Any rally into the 0.88 region gets met with selling. Which is what we are banking on here with our short signal. Any further weakness in the EUR would be very welcome. The profit target is at 0.874.