Forex Signals Brief for Feb 25: Trade & Brexit in Focus
Rowan Crosby • 2 min read
It might only be a Monday, but we are already seeing some developments on the geopolitical front that might spark markets early on.
The big news is that the US and China are making ‘strong progress’ on a deal. President Trump tweeted as much and that has seen markets get a kick in the right direction early on. That means that the President is likely to delay the tariffs increase that were due to occur on at the start of March.
At the same time, we are also hearing that the Brexit will also be delayed. The talk is that it could be delayed by two months under a deal being considered by PM May.
So while Monday is quiet from an economic point of view, we might very well be seeing some big catalysts drive markets throughout both the European and US sessions.
Forex Signal Update
The FX Leaders Team finished with 10 winning trades out of 16 for a 63% strike rate over the course of the week.
EUR/USD – Active Signal
The EUR/USD is still holding below the 1.1350 level and is slowly but surely inching our way.
EUR/CHF- Active Signal
The EUR/CHF has dropped below support at 1.1350 which is a bit of a worry for this signal. Price will have to reclaim that level which is a big ask.
Bitcoin has seen some wild price action in its bid to reclaim the $4,000 level.
As we can see on the chart, price has broken through and quickly failed. This is generally bearish price action as it shows there is significant selling pressure. The nature of the big red candle, has even caused some to call it a ‘kill candle’, meaning that the run-up is done for now.
We have seen a pretty big swing in price and we now sit back where it all started, below $3,800.