Forex Signals Brief for Sep 12: Can PPI Boost the USD?
Rowan Crosby • 1 min read
Markets have been busy but the USD continues to be trapped in a bit of a range. On Wednesday, traders might just get the spark they need when we get data on US PPI. Which is an important economic data point.
It appears that PPI, is really the only top-tier data release for Wednesday and that means there may very well be plenty of attention paid to the technicals.
It also means there will be focus on the trade wars, especially after US President Donald Trump hinted that the Canadians are looking to do a deal.
However, no such deal appears likely between the US and China, as the experts are now specualining if and when the next round of tariffs might come into place.
Forex Signal Update
The FX Leaders Team had another busy day as the boys grabbed five winners from seven signals. The EUR/USD was one of the more active giving us two winners.
CAC – The CAC has fallen away sharply. A new higher low, might be a time to look for a long here.
EUR/CHF – The EUR/CHF spiked higher yesterday, before retracing most of the move.
Bitcoin – Active Signal
Bitcoin is still holding above the all-important $6,000 level and that is a positive sign for us so far. We really need to see a higher low put in place before we can feel a bit more confident.
EUR/USD – Pending Signal
The EUR/USD has seen two way price action of recent times. But it has found a bit of strength this week. We do have resistance around the 1.1650 mark so we could look for a spike higher into that level.