Forex Signals Brief for Apr 27: Crypto Bulls are Back - Forex News by FX Leaders
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Forex Signals Brief for Apr 27: Crypto Bulls are Back

Posted Tuesday, April 27, 2021 by
Rowan Crosby • 2 min read

US Wrap

US equity markets were relatively flat to open the new week, while it was crypto that had all the attention.

The buying in crypto started very early and kept on going late into the US session. BTC was up, but it was XRP that was incredibly strong, pushing up to nearly $1.40.

Elsewhere, the USD continues to slide which is propping up the majors, while also helping both GOLD and SILVER.

 

The Data Agenda

There’s a fair bit of attention on the FOMC this week, but I suspect it will be a non-event.

Today, we get the latest consumer confidence figures out of the US which is expected to show another leg higher in the month of April.

 

Forex Signal Update

The FX Leaders Team hit 2 winners from 3 trades, for a strong start to the new trading week.

We have five open signals at the moment, so look to the forex signals page for all the latest developments.

 

XRP – Active Signal

XRP was one of the top performers yesterday rallying strongly all day long. Support at $1.00 was very strong and the bulls have pushed price back up to near-on $1.40. We remain long here and I am fully expecting an attempt at the ATHs in the coming weeks.

 

LTC – Active Signal

LTC has climbed above that key $240 level as the market helped drag it higher.

 

Cryptocurrency Update

BTC has had a strong 24 hours and has pushed away from that $50,000 level for now.

As I spoke about yesterday, Turkey is becoming an interesting test case for the entire crypto sector. We heard that they expect to see regulation in the next two weeks in some for which could mean all sorts of things. Certainly, there could be plenty of volatility ahead.

We also heard about JP Morgan looking to start a Bitcoin fund which is an interesting move to say the least.

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