Forex Signals Brief for Jan 12: US CPI to Get the Majors Moving
Rowan Crosby • 2 min read
Forex markets have started to get busy this week. The majors have been moving and it’s thanks to more weakness in the Greenback.
The FX Leaders Team were all over it and managed to find a number of good trades in the majors. The boys scored wins in the AUD/USD, the USD/CAD and the EUR/JPY cross. Some Yen strength hurt our USD/JPY position, while our awesome run of Gold trades came to an end. We ended the day three and three which was a good result given the conditions.
As it stands we are only sitting in our long-term Bitcoin (BTC/USD) trade. The cryptocurrencies have been weak over the last few sessions, but key support at 13000 is holding strong.
US CPI is scheduled for release today and any change on current expectations will have a huge impact on the USD. So keep watching the forex signals page for all the very latest opportunities.
Forex Signal Watchlist
NZD/USD – The Kiwi was once again the strongest performer of the day. It’s now almost vertical and finding a pullback has been tough, to say the least.
LTC/USD – Litecoin has been grinding lower, like most cryptocurrencies this week. Major support stands around the 215.00 level which might be a nice long entry.
Live Forex Signals
Bitcoin – Support is Strong
The Cryptocurrencies have continued to fall away over the course of the week thanks mostly to regulatory concerns. There is talk around that South Korea will be banning all cryptocurrency trading on exchanges. So that has been weighing on our position. However, 13000 is a major support level which is holding up well. For the most part, Bitcoin (BTC) is a long-only trade for many. You can’t obviously short physical Bitcoin. So these dips are what buyers are looking for. Our upside target remains at 18200.
NZD/USD – Vertical Market
The FX Leaders Team have been trading the Kiwi dollar a fair bit in recent months. That’s because it has been one of the strongest trending currencies. When you have a strong trend in place it makes identifying potential setups a whole lot easier. We’ve been waiting for a pullback for a few session, but the Kiwi has just been too strong. But patience is a virtue and that’s especially true in forex trading.