Forex Signals Brief for Apr 30: US Earnings Driving Sentiment

US Wrap

US equity markets finished the session higher on the back of some big name earnings that continue to trickle through.

Interestingly, after the close of the US session, we saw earnings from two names that we need to pay attention to, Twitter and Amazon. Amazon recorded a record profit which comes on the back of widespread lockdowns and a need from many to shop online.

While Twitter has been embroiled in widespread censorship of its users and saw a significant decline in user numbers as a result. On the back of new platforms being rolled out such as Mike Lindell’s Frank, the big tech companies could well be coming to the end of their bull run.

Elsewhere GDP growth in the US came in strong, while the number of people receiving unemployment benefits continues to fall.

The Data Agenda

We have a mixture of data points to close out the trading week with German GDP being the first number of note to get the session started.

From there we need to watch for Eurozone CPI, while Canadian GDP is set to be released later in the day.

Forex Signal Update

The FX Leaders Team hit 2 winners from 2 trades, while we have multiple crypto signals open at the moment.

XRP – Active Signal

XRP is holding above the $1.40 level and this pullback does look bullish to me. Ripple has another important session ahead as the case against the SEC will see more developments on Friday, so pay close attention to the price action today.

LTC – Active Signal

LTC has been quiet for the past 24 hours and we have multiple signals open in this one presently.

Cryptocurrency Update

BTC hasn’t been able to reclaim the $55,000 level over the past 48 hours and as such the sellers took control.

However, price has bounced and as yet the weakness hasn’t really dragged the broader market lower just yet. We will watch closely headed into the weekend, where we have seen some action in recent months.