Forex Signals Brief for Apr 14: Will Earnings Season Derail Markets
Rowan Crosby • 2 min read
US Market Wrap
Markets in the US put in a mixed start to the week as traders returned from the Easter break.
While equity markets such as the SPX weakened, it appears that investors are trying their best to look for the positive. Stocks have bounced back over the past two weeks, while the other risk-on assets such as the AUD/USD and NZD/USD are also seeing some upside.
While there is economic data rolling out over the course of the week, we are going to start finding out in far more detail how big business is coping.
Earnings season is about to begin and for many companies, the numbers are not going to make for good reading.
Interestingly, the SEC has told companies not to be too worried about the accuracy of their forward guidance as the situation continues to evolve rapidly.
What is for sure though, a host of key names showing poor numbers, will almost certainly weigh on stock markest and filter through to other risk assets.
Forex Signal Update
The FX Leaders Team had two wins from two signals in what was a great session to start the week.
Make sure you follow our live signals as markets could get very active in the coming days.
GBP/USD – Active Signal
The GBP/USD has been pushing right back through the 1.2500 level and this will put some pressure on our stop. We have still got some room, but not as much as we might like.
SPX – Watching
The SPX was a little soft overnight and as mentioned we have a busy few weeks ahead. The reality is that while price is pushing higher, we are still seeing only a 50/50 split of up/down days. Which suggests there is still a level of uncertainty around at the moment.
BTC once again made a failed push through the $7,000 level and that could make for a very key technical development.
For me, that is a failed break and a lower high. Now if price cannot break above that point on a second attempt, we are ripe for a breakdown.