Forex Signals Brief for Nov 11: Risk Assets Slow Down
Rowan Crosby • 1 min read
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.
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.
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.
USD/CAD – Active Signal
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.
AUD/USD – Active Signal
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.
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.