Forex Signals Brief for Jan 22: UK Data in Focus
It has been a quiet start to the trading day after the extended break in the US for the Martin Luther King holiday.
It has been a quiet start to the trading day after the extended break in the US for the Martin Luther King holiday.
While US traders will be back later, there is a bit of news from the UK to get the ball rolling. The main thing on the agenda is UK wage data and the claimant count.
GBP/USD traders might be hoping for some positive news on the back of PM May, reiterating much of the same on her ‘Plan B’ for the Brexit yesterday.
We also get German ZEW economic Sentiment which is likely to move the EUR/USD in the short-term.
Forex Signal Update
There were no new signals closed yesterday, given the quiet session.
Gold – Active Signal
Gold has held the 1300 level strongly to date. While it is under this point we have been looking to the short side and currently, have a new open signal.
EUR/USD – Pending Signal
The EUR/USD remains relatively range bound at the moment but is certainly grinding lower after failing at resistance and then holding under 1.1400. The ECB is the key focus here for the week.
Cryptocurrency Update
Bitcoin is still under $3,600 and is holding below for an extended period of time. Over the weekend there were reports that the OECD has called for more regulation. This comes on the back of other comments, where they suggested cryptocurrency could never become a real currency.
Since that point, we have seen declines and there appears to be more ahead as the technicals also remain very much bearish at the moment.
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