Forex Signals Brief for Aug 26: Fear is in the Air - Forex News by FX Leaders
Trump is Back at it

Forex Signals Brief for Aug 26: Fear is in the Air

Posted Monday, August 26, 2019 by
Rowan Crosby • 2 min read

President Trump refuses to take a back step in the battle against the Chinese and it is the markets that appear to be copping the brunt of that today.

We already saw some significant selling on Friday as Trump pledged to further lift tariffs against the Chinese. While China is set to do the same.

The politics at the moment has wiped billions from the value of the stock market, but for the traders it has been a period of excellent opportunity.

The week will begin as it finished and the calendar is also quite thin, meaning that the focus won’t shift from Trump and China all that quickly.

Today, the real focus from the data perspective will be on the German Business Climate for the EUR/USD and then Core Durable Goods Orders, which will likely not be enough to sway the underlying sentiment of the day.

 

Forex Signal Update

The FX Leaders Team managed to grab 14 wins from 16 signals last week, in the second straight week where we have really performed strongly. The conditions at the moment and just fantastic for short-term traders.

 

GBP/USD – Pending Signal

The GBP/USD has really been very strong given all that has been going on in the world. Fundamentally, I am still bearish and if price just pops some more, it might be a good chance to short against the crowd but with the long-term trend.

GBP/USD
GBP/USD – 240min.

 

Gold – Pending Signal

GOLD has broken out strongly today and is above the key resistance level that has been holding it down. This is a volatile trade at the moment, but keep it on your watch list today.

Gold
Gold – 240min.

 

Cryptocurrency Update

BTC has seen a little spike higher in Asian trade around the time of the Yuan price being set for the day. The Yuan is currently at 11-year lows. 

That said, the chart is looking bearish as it hasn’t been able to rally in months and it keeps making lower highs.

If the $10,000 level drops in any meaningful way, then we could see more downside here. Price really must reclaim $11,000 to see any further upside. It really does look like a massive triangle pattern which as we know breaks out one way or another and usually does so in a big way.

BTC
Bitcoin – 240min.
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