Forex Signals Brief for July 2: The US Setting the Agenda
Rowan Crosby • 1 min read
As the dust settled on Friday, it was the EUR/USD that took the lead. The leaders in Europe struck a deal on migration which helped boost the flailing Euro. This week the attention returns to the US, as we have a number of top-tier releases.
At the same time, our American counterparts will have a shortened trading week. Thanks to the 4th of July holiday, which means the price action might very well be a little unusual.
The trade wars continue to drive market sentiment, however, this week we will be focused on the US employment report and the FOMC minutes. The US is really on the up from an economic sense. With inflation pushing up to the Fed’s target of 2%. And a slew of interest rate hikes on the agenda. Making for another interesting week ahead.
Forex Signal Update
The FX Leaders team had both a solid week and a solid month in June. For the week we ended up hitting 18 winning signals with only the 7 losers. So that is a strike rate of 72% which is excellent. While for the month, we closed things out with 90 signals and 682 pip profit.
GBP/JPY – Price has pulled back nicely into the 146.00 region which coincides with the downtrend. This is looking like a short proposition any day now.
Bitcoin – The cryptocurrencies continue to struggle despite a spike to the $6,400 level in Bitcoin.
NZD/USD – Active Signal
The Kiwi was one of the worst performers for the week and I suspect that downtrend will continue. The only thing that could save it is the fact that we have a shortened week in the US. If we get much more upside in the USD, I suspect it will collapse further.