Forex Signals Brief for Jan 11: USD/CAD Keeping Us Busy as ECB Minutes Loom
Rowan Crosby • 2 min read
Forex markets were active but they didn’t present all that many opportunities in trade yesterday. As we come towards the end of the week we have a few major economic events so sometimes it can be best to see how they play out.
The commodity currencies kept us busy though with a winner yesterday in the USD/CAD, and the one early today in the AUD/USD. The Loonie was pretty active and saw a sharp rise. It was also our only trade to end up in the red.
The FX Leaders Team did manage to spot another entry in the EUR/GBP. As it stands we are sitting in a small profit with our short position.
Our longer-term Bitcoin (BTC/USD) signal has been busy, to say the least. While most cryptocurrencies have fallen away, we are still hovering around breakeven which is promising.
The ECB Minutes are due out today so if you’re interested in trading the EUR/USD or a EUR cross, be sure to keep the forex signals page open
Forex Signal Watchlist
NZD/USD – The Kiwi looks to have found resistance so a pullback might be in the works here.
Live Forex Signals
EUR/GBP – Sell the Bounce
We opened a new short signal on the EUR/GBP after the little spike higher in trade yesterday. We’ve been playing the range on this one and it has generally been a good pair for us. As it stands we have a downside target of 0.8829.
Bitcoin – Holding Strong
Cryptocurrencies have been relatively weak over the past few trading sessions. However, it looks like we might have found a bit of a turning point. Despite the overall weakness, we are still around breakeven which to me suggests there is some potential for us to move higher from here. Plus there are a number of good support levels in place. Our upside target remains at 18200.