Forex Signals Brief for May 27: Crypto’s Rolling Over
US Wrap
Markets were quiet yesterday with equities trading in a narrow range, while crypto markets held up quite well.
The USD bounced back hard and that did put some downward pressure on commodities and the majors.
However, today’s Asian session has opened with BTC appearing to roll over and there’s a fair bit of red across the board today in the crypto space.
The Data Agenda
Data has been very light so far this week, but finally, we are going to see some release worth paying attention to.
Once again we get weekly jobless claims from the US, which are slowly edging lower. While we will also see revised GDP numbers as well. Other than that, keep an eye out for core durable goods orders and pending home sales.
Forex Signal Update
The FX Leaders Team grabbed one win in our AUD/USD trade.
We have eight open signals at the moment, so look to the forex signals page for all the latest developments.
XRP – Active Signal
XRP is battling with the $1.00 level, however, price is slipping in Asian trade.
ETH – Active Signal
The ETH price is holding up for now and we can see that it is making its way along the trendline. However, should this break, expect a sharp pullback.
Cryptocurrency Update
So far Bitcoin hasn’t really been able to crack the $40,000 level and this morning in Asian trade we are seeing the sellers hitting back in.
There’s a lot of resistance at that point and slightly above it so price will have a hard time reclaiming that level in my opinion.
There is a high volume area sitting around $35,000 and that’s where I expect price to seek out should the selling increase.
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