Forex Signals Brief for Feb 17: Markets Roll Over - Forex News by FX Leaders
Investors are Nervous

Forex Signals Brief for Feb 17: Markets Roll Over

Posted Wednesday, February 17, 2021 by
Rowan Crosby • 1 min read

US Wrap

US markets opened higher, before starting to slowly roll over and ultimately ending red across the board.

This is the first time we’ve seen any hint of weakness after weeks of steady buying as volatility has been all but crushed.

Interestingly, the USD did jump, which added to more pressure on the metals market. At the same time, a freeze in Texas is adding to the resurgent price of WTI.

All the news is still surrounding BTC and its test of $50,000, however, I am still not convinced about it.

 

The Data Agenda

There is a little bit of data around that is worth paying attention to in the short term, led by the latest US retail sales data and PPI.

We will also be getting the minutes of the FOMC and ECB, however, as I’ve been saying for some time, the Central Banks are now bordering on irrelevant.

Earlier in the session, we will also get CPI out of the UK.

 

Forex Signal Update

The FX Leaders Team hit 6 winners from 7 trades yesterday for a 86% strike rate in what was a very strong day from the guys.

Keep watching the forex signals page as there could be plenty of action as markets are getting active.

 

EUR/USD – Active Signal

The EUR/USD  couldn’t crack resistance and has pulled back. We are long on the retrace.

 

USD/CHF – Watching

The USD/CHF got a boost from the bounce in the Greenback. We are shorting the pop higher.

 

Cryptocurrency Update

BTC tested the $50,000 level for the first time yesterday and is very strong still along with the entire sector at the moment.

That said, I am somewhat nervous about the Bitcoin outlook for a few reasons that I recovered briefly today.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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