⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

Retail Sales are Important Today

Forex Signals Brief for August 15: Retail Sales to Spark the USD

Posted Wednesday, August 15, 2018 by
Rowan Crosby • 2 min read

The USD has once again been the story of the day as its continued rally keeps the pressure mounting on the majors.

Yesterday, it appears to be less about the risk-off tone and more about simple dollar buying. Let’s not forget the FOMC is still on track for a further two rate rises this year which is far outpacing any of the other central banks. Adding to the technical levels that keep getting taken out, the bull case remains strong.

Today the USD will get another important piece of data with retail sales due for release. Let’s not forget that only a few months ago we saw a huge spike in the Greenback on the back of a big beat. So watch this one closely.

The GBP/USD will also be in focus as we get CPI data. But it appears there is a fair bit of work to do, to buck the trend in the pound which very clearly still to the downside.

Wednesday looks like it’s another big day for the majors, with the USD strong in Asian trade. Let’s hope the trend continues.

 

Forex Signal Update

It was another positive day on forex markets for the FX Leaders Team as the guys went four and two on the day. The majors are busy and there are some good trends that we have been able to latch onto.

Silver – Precious metals continue to be in a steep downtrend, despite the risk-off sentiment from earlier in the week. Given the price action, we will be looking to sell here.

CAC – The CAC has sold off sharply over the last seven days and we are looking for a continuation of the trend here.

 

EUR/JPY  – Active Signal

The EUR continues to be weak and the JPY has seen some buying interest this week thanks to its safe-haven status. The trend is down here and we are scalping this one off the pullback.

EUR/JPY
EUR/JPY – 240min.

 

Bitcoin – Active Signal

Bitcoin has really tested the $6,000 hard and is trying its best to find some buying interest. Media reports are again turning bearish so that might be a good sign to be long. If price pulls back above the recent highs of $6,600, that to me would be a bullish sign.

BTC
Bitcoin – 240min.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments