Forex Signals Brief for Feb 18: US-China Talks the Focus of the Week
Rowan Crosby • 2 min read
Markets have received some positive news over the weekend, regarding the talks between the US and China.
Washington and President Trump, both suggested the discussions had progressed well ahead of the looming March 1 deadline.
The next round of talks will be held this week in Washington and while there is plenty of positive talk, there remains a lot of work to do in a relatively short time.
This week will also see the FOMC Minutes released and we will get more insight into the meeting that saw rates left unchanged, but had the outlook of further hikes ahead being wound back.
On Monday US traders are away for the President’s Day holiday, so there is a chance of lighter trade and lower volatility.
Forex Signal Update
The FX Leaders Team finished with 16 winning signals from 22 trades, in what was a strong week all round.
EUR/USD – Active Signal
The EUR/USD is now back above the 1.1300 level to start the week. We are short when price was really holding below there. Watch this signal as European trade opens for the day.
EUR/CHF- Active Signal
The EUR/CHF is still holding above key support at 1.1350 and is making higher lows still. So this is still bullish and our long signal remains good for now.
Bitcoin has had another run at the $3,700 level and so far the move has again failed.
This is the second price spike we’ve seen into that area and we remain short. The failed spike does give us clues that there is selling pressure above, which isn’t really a surprise.
However, there is certainly a buyer around that is pressing here, so we might well find that there is a bit of a battle going on at the moment. Until proven otherwise the fact that the seller keeps winning is clearly bearish.