Forex Signals Brief for Jan 15: A Tumbling USD Giving Us Opportunities
Rowan Crosby • 2 min read
There was a lot of action around on Friday as forex markets got really active. The USD fell in a landslide as a big wave of selling hit hard. Fortunately, that gave us some great opportunities to enter new positions and secure some excellent prices.
The FX Leaders Team didn’t close any signals in Friday trade, however, they were on the lookout for some bargain buys. We managed to enter some new positions in the NZD/USD, GBP/USD and the USD/CAD.
As it stands on Monday, we’ve opened another position in Gold, which is a favourite of ours. The short-term trade in the Kiwi just hit our TP target, while the USD/CAD signal finished in the red as Asia opened.
Our long-term Bitcoin (BTC/USD) trade is still holding up as we flirt with 13000. While the GBP/USD was a good opportunity for a short as we really spiked higher on Friday and look a bit overbought.
Monday is Martin Luther King Day in the US, however, there will still be plenty of action in Europe so keep watching the forex signals page for all the very latest trades.
Forex Signal Watchlist
USD/CAD – The USD is strong and a pullback here will give us an opportunity to buy.
EUR/JPY – The Euro has started to gain strength since the ECB minutes last week. We are looking for a long entry if we get a chance.
LTC/USD – Most of the cryptocurrencies have been holding up at key support levels. Any weakness will open the door for a Litecoin trade.
Live Forex Signals
GBP/USD – Long-Term Opportunity?
The GBP/USD got a really big spike on Friday and that opened the door for a long-term sell signal. Much of the action around the pound has been focused on the politics of the Brexit deal. But we feel there is some weakness to come. You can read more about Skerdian’s thoughts on the trade here. Our downside profit target is set at 1.3237.
Bitcoin – Support is in Play
The Cryptocurrencies were weak over the last seven days and Bitcoin (BTC) was no exception. However, it’s pleasing that 13000 has continued to hold up as a major support level. For the most part, we are in a trading range between 13000 and 17000. Most recently 15000 has been holding us down. Much has been based on news out of South Korea, so anything positive might actually see us break out. Our upside target remains at 18200.