Forex Signals Brief for Jan 29: Big Week of Data to Rock the Majors
Rowan Crosby • 2 min read
The last week has been a good one for forex traders. The weak USD is putting up plenty of great opportunities for us. However, the week ahead looks massive.
We have both the FOMC Statement and US non-farm payrolls which will keep the majors very active, to say the least. Which is good news for our followers.
We ended the week with a couple of winners in the NZD/USD and EUR/GBP. While there were a couple in the red from Gold and the EUR/JPY.
On Friday we opened a long position in the EUR/USD as it pulled back from the recent move to 1.2500. We are also still in our longer-term AUD/USD and GBP/USD positions.
The week is going to be incredibly busy as we have data coming out left, right and center. So stay tuned to the forex signals page as there are going to be plenty of opportunities on the horizon.
Forex Signal Watchlist
EUR/CHF – There’s a very strong downtrend and any retrace will be a prime point to be selling.
GBP/JPY – This uptrend has been broken and we’ll be waiting on price action.
DAX – The DAX has fallen off the highs and we are looking for a bounce.
Nikkei – The big run-up in the Nikkei looks like it might be ending.
Live Forex Signals
AUD/USD – 81.5 in Focus
A weak USD continues to put pressure on the AUD/USD. And we’ve seen all the majors running hot as a result of the tumbling Dollar. The AUD this week has CPI to contend with along with the big data out of the US. The downside target is at 0.7650 in our long-term position.
EUR/USD – More Upside Ahead
The Euro has been breaking higher by the week. We opened a long position as price pulled back and consolidated. This signal looks good in the short-term and there is likely more upside to follow. Our upside target is at 1.2456.