Forex Signals Brief for Jan 20: Trump and Central Banks in Focus
Rowan Crosby • 2 min read
US Market Wrap
The US will take a bit of a breather this week as traders get a break with Martin Luther King Day to start the week.
However, when they return on Tuesday, the focus will continue to be on just how far the rally in the SPX might extend.
On the back of the US-China phase one trade deal, investors have used the opportunity to continue to pile money into equities, while the USD remains steady.
The attention this week will be on a range of different factors, however, it’s likely to be light on economic data.
Meanwhile, US President Trump will be headed to Davos to air his grievances with the Eurozone. Now that China is behind him, the Eurozone and ECB could very well be in the firing line.
Forex Signal Update
The FX Leaders Team finished with six wins from ten signals last week for a 60% strike rate in what was a solid performance.
EUR/JPY – Active Signal
The EUR/JPY has pushed to the upside recently as the safe-haven sell-off has seen the JPY weaken. We are long here looking for another leg up.
EUR/CHF – Active Signal
The EUR/CHF has really broken to the downside recently and has finally started to consolidate. As such we are long looking for a little retracement.
The BTC rally appears to be stopped for now after price tried and failed at $9,000 resistance level.
This is the typical type of price action we see in Bitcoin. Generally, there is a big push through a key level, but that next level is the one that slows the move down.
As such, we can now use the $9,000 level to trade around. If price makes another lower high here under that point, that would be a good short entry.
If price retests and holds, then the door is open for another leg higher into $10,000.