Forex Signals Brief for Feb 19: Markets Start Turning
Rowan Crosby • 2 min read
US markets were red yesterday in what was the first decent fall we’ve seen in quite some time.
While the percentage fall from all the big indeed was still minor, we have now seen three sessions in a row where markets appear to be running out of steam and turning over to seme degree.
At the same time, we have also started to see the USD fall away sharply once again and interestingly the metals market also falling. It is staggering to me that GOLD could possibly be falling at the moment and to me, this is clearly an opportunity. Even more so in the SILVER market.
BTC is still holding above the $50,000 for now and as I’ve been saying this is making me very nervous. I suspect we will be seeing more about Bitcoin in the coming weeks.
We also got to hear all about Robinhood and its role in the Gamestop short squeeze. I suspect this won’t be the end of it for Robinhood and their days could well be numbered.
The Data Agenda
Yesterday, we saw a big jump in jobless claims as the fallout from Biden continues to be clear for all to see.
Today, there is a host of economic data, but the main ones are likely to be German Manufacturing PMI and along with retail sales out of both the UK and Canada.
Forex Signal Update
The FX Leaders Team hit 2 winners in a row, with a nice result in our silver trade.
Silver – Pending Signal
ETH – Pending Signal
ETH has been coming along for the ride as Bitcoin surges. We are looking for long positions here for a short term trade.
BTC is still holding above the $50,000 level as the hype grows by the day.
Interestingly, we are starting the hear more stories emerging of illegal mining operations from across the globe.