Forex markets appear to have digested all the recent trade wars and are now moving on. We have been seeing the USD continue to climb and that’s meant the majors have been feeling the pressure.
Today we are looking to focus back on the fundamentals as the BOE and SNB release their interest rate decisions. While there aren’t any changes expected, as we saw last week with the ECB, you need to be prepared for anything.
At the same time, we’ll also get a closer look at the state of the US economy with the Philly Fed as well as weekly unemployment claims. Overall, the data out of the US has been strong, which is one of the key reasons for the appreciating USD.
Forex Signal Update
The FX Leaders had another neutral day this time finding two winners and the three losers. That was balanced out by wins in early Asian trade on a sliding AUD/USD and GBP/USD.
Bitcoin – BTC is hasn’t made too much progress over the last few sessions. It’s right at an important level which will be a big test for the buyers.
DAX – Support has been strong around 12,600 and that might present more buying opportunities going forward.
EUR/GBP – Active Signal
The EUR/GBP has been in a tight range and has presented some relatively predictable moves. We are short and looking to revert back to the middle of the range. A weak EUR will help, however, the GBP is bouncing around on Brexit headlines. The profit target is at 0.8735.
EUR/GBP – 240 min Chart.