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Wednesday, May 15, 2019

Forex Signals Brief for May 15

The US-China trade wars have been all that markets have been talking about this week. However, we might be in for a bit of a change of pace after we saw a slight rebound yesterday.

As the tensions, ease off for the time being and investors wait on the next development, many will be turning their attention to the host of important data set for release today.
The EUR/USD, has a couple of important data points including German and Eurozone GDP. Both numbers have not been impressive of recent times particularly on a yearly level, so watch out for any miss on either count to hit the Euro hard.
Out of the US, Retail Sales will be the big market mover today. And after gaining back some of the lost ground, US President Trump will be on the lookout for signs of an improving economy.
Meanwhile, the USD/CAD will also be on watch as we get CPI. Remember, we have seen a number of countries miss with their CPI prints lately and Canada wouldn’t want to follow suit.
Cryptocurrency Update
BTC has driven hard through the $8,000 level before pulling back. But once again the buyers have stepped up and we are now back above that key area.
Given the momentum is so strong at the moment, it is very hard to be looking to short at the moment as you are just seeing so much strength.
And as I have been saying, price might be vertical, but that doesn’t mean it will slow down anytime soon. This could well go parabolical like the last time.

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