Forex Signals Brief for Jan 16: As the USD Slides the Majors Get Moving
Rowan Crosby • 2 min read
US traders were on holiday on Monday, but that didn’t mean the USD got to take a break. The Greenback kept on sliding and that meant there were plenty of opportunities around in the majors.
The FX Leaders have been busy finding some excellent positions in many of the major pairs and managed to grab some winners along the way. The boys found a nice win in the Kiwi which has been incredibly strong lately. While there was another nice win in the GBP/JPY. The day finished two and two with a couple of the commodities ending up red thanks to a weak USD.
As it stands on Tuesday, we’ve opened a range of new positions. We now have long-term short positions in the AUD/USD and GBP/USD. While we are currently riding a EUR/GBP short.
Our long-term Bitcoin (BTC/USD) has found some strength as it briefly pushed to the 14,000 level on Monday.
US traders will be back from their long weekend fired up and ready for action. So keep the forex signals pagefront and center for all the very latest trade setups.
Forex Signal Watchlist
EUR/USD – The Euro has been on fire lately and has ripped higher over the last week. Any chance at a pullback will be well worth it.
USD/CAD – The USD has really sold off hard and is now offering up some chances for a retrace.
EUR/JPY – The Euro strength continues and we are still trying to find a long entry here.
Live Forex Signals
AUD/USD – Are We Overbought?
The Aussie has rallied hard in the last month. Despite what might be considered weak fundamentals, a sliding USD has seen us push higher. As we approach the 80 cent mark we’ve opened a sell signal. You can read about Skerdian’s thoughts on the trade here. The downside target is at 0.7650.
GBP/USD – Price Consolidating
The GBP/USD has been on a march to the upside like many of the majors. There haven’t been many red candles over the past few sessions, but that appears to be changing now. Price is slowing down and consolidating so hopefully this marks the beginning of a change in trend. Our downside target remains at 1.3237.