Forex Signals Brief for Feb 15: Trump to Keep Government Open

Markets have been mixed in the last 24 hours, however, news of the US Government remaining open might provide a boost.

Reports out of the White House are suggesting President Trump is prepared to sign a deal to keep the Government open past the deadline, however, it comes with the caveat that he is looking to declare a state of emergency to get funding for his border wall.

The latter point might cause some volatility ahead, so we’ll have to see how this plays out.

The news comes on the back of the final day of talks between the US and China. That deal will also be extended, should there be enough progress being made.

Some might suggest that we are just kicking two cans a bit further down the road on both counts, but only time will tell.

In the European session, we get UK retail sales for December, which will be highly anticipated on the back of some weak data from local retailers as well as the huge miss we saw in the US yesterday.

Forex Signal Update

The FX Leaders Team finished with 3 winning signals from 4 trades, in what was another solid day for the guys.

EUR/USD – Active Signal

The EUR/USD is still battling with the 1.1300 level that has provided support for many months. The fact that we are currently below that point is bearish though so we are short and waiting for a possible push lower.

EUR/CHF- Active Signal

The EUR/CHF continues to make higher lows which is a sign that it is bullish for the time being. We are long on the pullback and this looks like a good place for a long position.

Cryptocurrency Update

Bitcoin has continued to weaken after the quick run up to the $3,700 level. Price is consolidating beneath the $3,600 level and as such is bearish.

There is little news around, except that JP Morgan is looking to issue a token of its own. However, it is not true cryptocurrency, rather a token that will be used internally to speed up transactions as it is based on blockchain. The story is interesting as JP Morgan boss Jamie Dimon once labelled Bitcoin a ‘fraud’. So it does give some credit to the role that cryptocurrencies could potentially play.