Forex Signals Brief for Jan 25: Markets are Firing Ahead of the ECB
Rowan Crosby • 2 min read
It was a very active day in the world of forex trading. The US Dollar was tumbling and the majors all had high volatility. The FX Leaders Team ended the day three and four, which was a good result in tricky conditions.
The EUR/CHF was an active trade which brought in a couple of winners for us. While there were also profits to be had in the EUR/GBP. We closed out all of our short-term positions throughout the session as there was plenty of movement in most pairs.
On the longer-term front, our trades in the AUD/USD and GBP/USD are still active although they didn’t like the USD weakness.
Bitcoin (BTC) has continued to push higher off the key support level at 10,000 which is good news.
Today is a huge day for Euro traders as the ECB has their monthly interest rate decision and policy statement. There is the chance of a big move higher in the EUR/USD so keep the forex signals page open for any trade opportunities.
Forex Signal Watchlist
GBP/JPY – The Pound has been strong in recent times and we are looking for a long position.
CAC – We are still waiting on a short in the CAC as equity markets are gradually slowing down.
Nikkei – The Nikkei has started to fall and we might be able to ride this momentum.
Live Forex Signals
AUD/USD – Resistance in Sight
The Aussie has rallied on the back of continued USD weakness. We are now nearing the very top end of resistance with 81 cents being the most recent high. Hopefully, this will slow things down. The downside target is at 0.7650 in our long-term position.
BTC/USD – Strength Returning
Bitcoin (BTC) has managed to find its feet and rally strongly from 10,000. This is a positive as it shows there is some buying interest around at the moment. Our upside target remains at 18,200.