Forex Signals Brief for Nov 24: German Data Ahead
Rowan Crosby • 1 min read
US Market Wrap
Markets and risk assets continued to grind higher, while the USD also bounced back.
The rising Greenback did put some pressure on the major risk-on forex pairs, however, we are seeing those very same pairs back in the green once again today.
The same ongoing themes continue to play out at the moment, while stocks it seems, just bounce back at every occasion. Perhaps pointing to the fact, there are not many other options to park significant amounts of cash.
The Data Agenda
Most of the data focus today comes out of Europe and more specifically Germany.
The EUR/USD will be eyeing off German GDP, as well as business climate figures.
Out of the US, we get consumer confidence data, which is still mixed at the moment but higher than some of the lows we’ve previously seen.
Forex Signal Update
The FX Leaders Team hit 2 winners from 3 trades yesterday, in what was a quiet session, as markets continued to move back and forth.
BTC – Active Signal
BTC has been one of the major stories in the past month and price is looking very bullish. We are long here looking for a test of those highs.
DAX – Pending Signal
The DAX is still setting up really nicely and we can see price really knocking on the door of resistance now.
Bitcoin has been the big mover this year, but we can’t forget the other cryptos as well which are charging higher.
The likes or XRP, have literally doubled in the past few weeks, which is to be expected given their market cap. These smaller coins are more volatile but do offer plenty of bang for your buck.