Forex Signals Brief for Nov 11: Risk Assets Slow Down
US Market Wrap
US markets and risk assets have taken a breather yesterday after all the vaccine news had whipped investors into a frenzy.
The real mover yesterday was the GBP/USD, which is going to be in the limelight going forward thanks to the ongoing Brexit sagas.
While the likes of GOLD and other safe-havens managed to bounce a little after being smashed on the vaccine news.
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The Data Agenda
The data agenda is very thin today with no top-tier releases at all for traders.
The EUR/USD will be watching Christine Lagarde as she speaks, but we aren’t expecting any market-moving news as yet.
The made trade of the day will again be watching the interplay between risk and safety and the unwinding of some positions that come as a vaccine inches ever closer to being released.
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Forex Signal Update
The FX Leaders Team found 1 winner from 1 trade yesterday, but keep watching the forex signals page, as the guys have a number of open positions at the moment.
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USD/CAD – Active SignalÂ
The USD/CAD continues to consolidate at the lows and we remain short here. If this big support level drops price could really fall away.
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AUD/USD – Active SignalÂ
The AUD/USD has not been able to push through the resistance overhead and we are short for the time being, keying off that level.
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Cryptocurrency Update
BTC is still slowly and surely creeping higher towards that $16,000 level.
As we suggested yesterday, price is making a series of higher lows and that is bullish price action while that trend continues.
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