Forex Signals Brief for Mar 26: USD Breaks Out
US Wrap
US equity markets were mixed yesterday while it was the Greenback that continues to break to the upside.
The NASDAQ was once again the main drag on equity markets as the major tech names continue to soften across the board.
The US Dollar Index was one to watch for another session as it broke out above the most recent highs and again is putting pressure on the majors and commodities alike.
The main news is that the Ever Green is still stuck in the Suez Canal. While the economic impact is big, I wonder if we will find out some more key details about how the cargo ship came to be stuck and what exactly is on board?
The Data Agenda
Yesterday we saw an improving jobless claims number in the US which bodes well for the economic recovery.
Data is scarce on Friday, with German business climate the main top-tier release as we head into the weekend.
Forex Signal Update
The FX Leaders Team grabbed a win in our EUR/GBP signal that we have been riding all week.
Make sure you follow our live signals as volatility could rise to close out the week.
USD – Watching
The Greenback is on the move and this will be the one to watch on Friday.
USD/JPY – Active Signal
The USD/JPY is looking strong and is pushing higher. We are long above that key 109.00 level.
Cryptocurrency Update
BTC continued to see-off yesterday after breaking sharply under the $54,000 level.
That fall saw price push as low as $50,000 before the buyers stepped up. We now turn our attention to that level to see if it can hold. Clearly, it is important from a round number psychological point of view.
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