Forex Signals Brief for Sep 17: Trade Still Setting the Agenda
Rowan Crosby • 2 min read
Markets will start the week with news of further trade headlines that are set to shape Monday trading.
Over the weekend, news came out that suggested US President Donald Trump will look to impose tariffs on a further $200 billion worth of Chinese goods. However, the one shining light is that the rate will be lower at only 10% compared to the 25% which was previously anticipated.
The moves comes as the White House appears to be looking to appease US importers, who are effectively facing a new tax that will be passed onto the US consumers. While there is also some political fallout and with the US midterm elections taking place in November, Trump must keep the Republicans happy. Along with the voters.
The data out this week is a little lighter with both the BOJ and SNB monetary policy decisions the highlights from later in the week. While Eurozone CPI is the major focus for Monday.
Forex Signal Update
The FX Leaders Team put together another strong trading week. Grabbing 17 winning signals out of 25. Here’s hoping for more of the same in the next five days.
EUR/USD – The EUR/USD has fallen away sharply, thanks to more concerns within the Eurozone and a rebound in the USD.
NZD/USD – Active Signal
The NZD/USD signal really did its very best to test our stop, but fortunately, we survived. In reality, the further towards that level we got, the better opportunity for a short position. We are now back in the green, thanks to a nice rebound in the USD. Again, it will be the Greenback that dominates the price action here on Monday.
Bitcoin – Active Signal
Bitcoin appears to be consolidating around the $6,500 level. As long as we are making higher lows here, I feel a bit bullish. If that mini uptrend breaks through I think we will test the most recent support levels below.