Powell in Focus

Forex Signals Brief for June 17: All Eyes on the FOMC

Posted Monday, June 17, 2019 by
Rowan Crosby • 2 min read

The week ahead will all amount to one man and one moment, when the FOMC meets again to let us know what is in store for US monetary policy.

Markets are as yet undecided on exactly what Powell and the other members will have to say. Recently, he came out and suggested he was ready to cut rates if required. However, there is a fair bit of grey in what exactly will constitute a cut.

The odds have been slowly climbing for a further cut in the months ahead, but if and when, will be what markets would like some more guidance on. But amid trade wars and other global tensions, policymakers might very well refuse to give away too much information and keep their cards close to their chest.

In recent weeks, we have seen the likes of GOLD and the SPX rally after some of the talk surrounding the next meeting started getting a little louder. As a result, it could be a very big week ahead.

Today, there is only limited data to get the week started. With a host of second-tier data at best set to be released in Europe and the US.


Forex Signal Update

The FX Leaders Team finished the week with 16 wins from 22 signals, in a very strong performance from the guys and a 73% win rate.


Oil – Active Signal

WTI had what could only be described as a wild week. First, the supply glut hit price hard and sent it tumbling towards the $50 level. Before a surprise attack on some oil tankers sent shockwaves through the market and caused a huge spike. Once the dust settles the fundamentals will return and oil should be on its way back down. We are still hunting a short position here.

CL – 240min.


EUR/CHF – Active Signal

The EUR/CHF, has continued to hold up nicely and has bounced off the key support level we identified last week. This signal is still around the breakeven level for us, but the hold of that key 1.1200 is a positive sign.

EUR/CHF – 240min.


Cryptocurrency Update

BTC has had a strong few days and has now taken out the key $9,000 level.

We have been bullish for a while now after price reclaimed the $8,000 level and we saw a fairly strong bid at $7,500, sweeping up all the sellers.

Clearly, the door is now open to a push to $10,000 which would be a huge turnaround. The mainstream media might well jump back on board as well which would be another huge positive. It is also worth keeping an eye on LTC which has also been on a massive bull run as I noted earlier today.

BTC – 240min.
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