Forex Signals Brief for Aug 13: Can Bitcoin Reclaim $45,000?
US Wrap
Markets were higher once again yesterday in what has become all too familiar price action at the moment, while Bitcoin continues to try and hold onto the $45,000 level.
For the most part, sentiment has been good this week and we are seeing both equities and crypto very strong at the moment. Precious metals are on the back foot at the moment as is the USD.
The majors are rebounding slightly after a long period of weakness and given all the focus on interest rates at the moment, much will depend on the FOMC going forward.
The Data Agenda
Data will be light today, with no real top-tier announcements to speak of. However, the price action is very much in focus and we will be watching closely for any opportunities headed into the weekend.
Forex Signal Update
The FX Leaders Team hit 1 winner from 2 trades, as markets remain bullish.
XRP – Active Signal
XRP has been trying to hold onto the $1.00 level but so far we are starting to see some resistance as well as from the sector.
Gold – Watching
GOLD has continued to recover after Monday’s smashing, but we know that ‘unusual’ things happen as markets close on a Friday in precious metals.
Cryptocurrency Update
BTC is currently under the $45,000 level, however, price certainly hasn’t fallen away too heavily as yet.
If anything $44,000 is providing a fair bit of buying and we will watch to see whether price can make fresh highs. A failure would be bearish and a break, short-term bullish. We are long with a new signal in BTC off that key support level.
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