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Forex Signals July 23rd Brief: Can Bullish Rise Continue?

US wrap

After a period of weakness, the bullish upswing is back in full swing, with everything from stocks to cryptocurrencies firmly in the green.

The SPX and the other major indices have all plummeted to record highs while the futures markets are already in the green today.

Yesterday we saw a lower than expected number of jobless claims from the US, but that was not enough to dampen sentiment. The ECB made no major changes, but changed its guidelines in order to achieve a higher inflation target.

Bitcoin continues to be history for the week after falling below $ 30,000 as the upswing is picking up momentum.

The data agenda

Quite a lot of data comes from Europe today, with the two most important releases being the German and British manufacturing PMI.

There will also be retail sales data from the UK and Canada, so the majors will again be busy wrapping up the week.

Forex signal update

The FX Leaders team Hit 1 winner out of 4 trades, but we have numerous signals open at the moment.

XRP – Active Signal

XRP had rallied to the $ 0.60 level, which will be a difficult level of resistance to break. We stay here a long time.

AUD / USD – Active signal

The AUD / USD has bounced back but we are short with a strong resistance at 0.7400 which is likely to cause some problems for buyers.

Cryptocurrency update

BTC has rallied strongly over the past two sessions and we have seen the price try to climb back towards the USD 33,000 level.

Most of the trend is down and we should expect the sellers to hit back at some point. So let’s look briefly for another test of the $ 30,000 level.

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