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Forex Signals Brief for Jan 17: Markets Continue to Grind Higher

US Market Wrap

Markets continued to do what they’ve been doing lately with equities finishing the day higher.

After the phase one deal was signed on Wednesday, the focus turned back to the fundamentals and overall data was strong.

While at the same time, earnings data is continuing to roll out, which will likely be the key driver of the SPX over the next few weeks.


Today’s Agenda

There is likely to be a few small moves today on the back of a bit of top-tier data due for release.

The first one to watch for will be UK retail sales which will impact the GBP/USD. Next in line is Eurozone CPI, which is known to be sluggish of recent times. There are hopes of some improvement here so the EUR/USD will be worth trading on any beat.

As we turn back to the US timezone, there are building permit data as well as JOLT job openings, which will potentially continue to trend of strong data of recent times.


Forex Signal Update

The FX Leaders Team closed only the one signal yesterday, with the AUD/USD hitting our stop.


USD/CAD – Active Signal

The USD/CAD has been holding above 1.3000 and we are back in a long position here hoping to see some more upside.

USD/CAD – 240min.


Gold – Pending Signal

GOLD keeps holding below the recent swing high and safe-havens have been soft lately, so we keep looking for a possible short position.

Gold – 240min.


Cryptocurrency Update

The BTC rally appears to be gaining some momentum as price holds under the $9,000 resistance level.

One of the key developments has been the fact that price has reclaimed the 200-day SMA. This is often a line in the sand investors use to determine whether an asset is bullish or bearish and will likely bring in new buying here.

Again we should focus on the fact that price remains under key resistance, but a break of that level could lead to a short rally.

BTC – 240min.
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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