Forex Signals Brief for Mar 26: Is Consumer Confidence Waning?
Rowan Crosby • 1 min read
Recently there have been increasing worries around the state of the US economy. Fears over a poor growth outlook have had investors on edge and today we’ll get a clearer picture of just how that has started to impact confidence.
With that in mind, the most interesting release today will be US Consumer Confidence. With fears around the state of the economy, this can have a negative impact on confidence in general and can add to the worries in what can be a snowball effect.
The US Federal Reserve is another one starting to feel the pressure and now many expect they will need to backflip on their recent rate hikes and perhaps even wind them back.
Either way, things are delicately poised and there isn’t that much confidence in the air at the moment.
Forex Signal Update
The FX Leaders Team closed out only one signal in the GBP/USD yesterday in what was a relatively quiet session for the guys.
EUR/USD – Active Signal
The EUR/USD has rebounded nicely from what was a short and sharp sell-off. Price looks like it is getting pulled towards 1.1350 again, so there might be a bit more upside here.
AUD/USD – Active Signal
The AUD/USD has plenty of resistance overhead and a relatively bearish longer-term outlook. This is one with plenty of resistance overhead.
Bitcoin looks to be falling away from the $4,000 level and can’t quite move higher.
Our lead analyst Skerdian has put together his thoughts on the technical outlook for BTC at the current level.