Forex Signals Brief for Jan 18: It’s a Rollercoaster for Forex Traders
Rowan Crosby • 2 min read
Forex markets put in a wild performance in trade yesterday. Lead by a rate hike in Canada it was a rollercoaster, to say the least. And for the most part, opportunities were tough to find.
In the early hours of trade, we found another nice win in the NZD/USD, which has been on a tear. The guys also had a winner with the EUR/CHF position. Unfortunately, the other positions found their way into the red, including spots in the EUR/GBP, GBP/JPY and Gold. Overall it was some tricky conditions and the team navigated the waters well.
We still have a short-term position in the EUR/CHF that is going along well. And of course our long-term positions in the AUD/USD and GBP/USD.
Our long-term Bitcoin (BTC/USD) trade has bounced off the 10,000 level and is gaining ground in Asian trade.
Markets have seen increased levels of volatility at the moment so don’t miss the very latest updates on the forex signals page, to help navigate a tricky trading environment.
Forex Signal Watchlist
EUR/JPY – We are still waiting for our price in the EUR/JPY, as the Euro has been active lately.
Nikkei – The Japanese Stock Index has been having some large moves in recent times and we are looking for another short in today’s trade.
Live Forex Signals
AUD/USD – Resistance is Strong
The Aussie charged to the 80 cent level in trade yesterday. But despite the momentum, it got whacked straight back down to earth. 80 is strong psychological level for traders and investors and will take some serious buying to breakout. The downside target is at 0.7650.
GBP/USD – Spike and Retrace
The GBP/USD ripped to the upside, before abruptly turning around yesterday. When we see a big spike and a candle with a long wick, that often indicates strong selling pressure. We have a chance to push lower going forward. Our downside target remains at 1.3237.