Forex Signals Brief for June 18: The EUR/USD in Focus

Markets, for the most part, have had a relatively subdued start to the week as all the attention falls onto the central bankers.

The FOMC policy meeting gets underway today, while there is still more to come from the BOJ this week and RBA Governor Lowe will be speaking on Thursday.

In the meantime, the focus today will be on the EUR/USD as a host of data points will trickle out over the course of the session. Eurozone CPI is a key data point for today and is quite timely with ECB President Mario Draghi busy doing the speaking rounds at the European Central Bank’s annual forum in Sintra, Portugal.

At the same time, there is also German data out with ZEW Economic Sentiment and PPI scheduled for today.

In the US session, I am expecting a bit of a slow start with the aforementioned meeting of the FOMC, however, there are building permits to watch out for.

Forex Signal Update

The FX Leaders Team closed out only the one signal in GOLD in what was a low volatility session.

EUR/USD – Active Signal

As mentioned, the EUR/USD looks to have a few data points set for release today. It is also important to note that the USD has been pushing the majors around lately like it often does. So with that in mind be careful as the FOMC approaches. We are long looking for more upside.

EUR/CHF – Active Signal

The EUR/CHF, continues to consolidate around the key 1.1200 level, which is good as it is holding for now. However, these tight ranges often break out sharply so let’s hope we remain on the right side of it for now.

Cryptocurrency Update

BTC has continued its bull run since reclaiming the $9,000 level.

Price pushed as high as $9,500 as we close in on $10,000. There are a number of reasons why Bitcoin is on the up and up. They include the new Facebook coin, strong institutional interest and the upcoming halving event. I had a bit of a closer look at these factors earlier today.