Forex Signals Brief for Sep 18: The Up and Down USD
It was an up and day session across the board, but once again the USD couldn’t hold onto its early gains.
US Market Wrap
It was an up and day session across the board, but once again the USD couldn’t hold onto its early gains.
This time yesterday, we were all talking about the risk-off moves and money flowing into the USD, but that once again turned around as we headed into the European and US sessions. By days end the Greenback was the weakest once again, which is a trend we are somewhat used to at the moment.
At the same time, there was some positive data released with jobless claims continuing to fall, while the trend is also down for continuing claims.
The BOE was the other interesting one yesterday and the GBP/USD fell away after suggestions the central bank could move rates into the negative.
The Data Agenda
There will be a little bit of top-tier around to end the week and we get underway early in the UK.
Retail sales are due for release out of England and it is expected to show a 4.2% increase last month. While we will wait for more info on Brexit which is still looking uncertain.
Later in the day, we will also get retail sales data out of Canada and the USD/CAD will be watching for sluggish numbers, as the data is from July.
Once again, sentiment will be the big story of the session as we head into the weekend, with tech stocks on watch again after slipping yesterday.
Forex Signal Update
The FX Leaders Team hit 3 winners from 4 trades as the guys put together a solid week of results.
EUR/USD – Pending Signal
The EUR/USD has pushed a little higher and is now nearing 1.1900 and has so far struggled to break through that point. As such we are looking at a potential short.
Gold – Pending Signal
GOLD is in this triangle pattern at the moment, but a break above the downtrend line would be a bullish trigger and long entry.
Cryptocurrency Update
BTC has been knocking on the door of the $11,000 level, but as yet has not really looked like challenging it in any meaningful way.
We do see some large moves on occasional on a Friday in the crypto space, so let’s watch that level with interest today.
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