⚡ Easily Trade – Apple, Microsoft, Tesla and Google Stocks – Open a FREE Account Here

Stocks are Under Pressure

Forex Signals Brief for Nov 21: More Red for World Markets

Posted Wednesday, November 21, 2018 by
Rowan Crosby • 2 min read

It might be a short trading week, but US investors are doing their very best to sell their stocks and do it before the Thanksgiving holiday period.

US equities were a sea of red as the risk-off feel is well and truly here. Concerns around the level of growth and tightening monetary policy are being blamed for the selling. While the US-China trade was certainly isn’t helping.

Given the fact that there is one day left for US traders, means that we could well see more of the same, with the institutions not wanting to hold any excess risk going into what is effectively a four-day break.

At the same time, we are also seeing big selling in oil and Bitcoin, while the USD is holding strong for the time being. There is plenty happening at the moment so stay close to your screens today.


Forex Signal Update

The FX Leaders Team finished with 6 winners from 7 signals, which is a reflection of the great volatility we have at the moment.


DAX – Pending Signal

Markets around the world are still falling, so we might not want to step up just yet with a long entry. Keep waiting as the bounce will come. We will now keep a close watch for a move off support at the important 11,000 level.

DAX – 240min


USD/JPY – Active Signal

The USD/JPY has been finding resistance at 114.00 and we have sold off from that point. Given the fact that we failed twice at that point and the USD/JPY couldn’t jump on a big up day for the Greenback, suggests we do have some weakness here.

USD/JPY – 240min


Cryptocurrency Update

Bitcoin and the other major cryptocurrencies have continued to get hit pretty badly with more selling taking BTC down to lows just above $4,000.

Like I said yesterday, it really does feel like the music has stopped for the cryptos at the moment. No one wants to buy the dip and what is worrying is that there is really not that much fundamentally to drive this down, with speculation being that increased regulation is to blame. I feel the party is over.

I think BTC will crack $4,000 and hit $3,000, where there should be some support for the short-term.

BTC – 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
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments