Forex Signals Brief for Jan 6: The Race for President
Rowan Crosby • 2 min read
There might not be a bigger day that I can remember than the one we have ahead of us as Congress meets to take a closer look at the electoral college votes.
After widespread talk of voter fraud, the decision to certify the electoral college votes is certainly no guarantee. It is believed that Vice President Mike Pence has the power to throw out any fraudulent votes while at the same time, he can also send them back to the state electors for debate.
Either way, what we are going to be seeing today is the evidence of fraud that has taken place finally come out into the public. If you recall, even the Supreme Court of the United States, threw out the case suggesting there was no standing.
This morning we have also seen that the state legislators from Pennsylvania, have elected not to certify Biden, which is a huge development.
At the same time, we have the Georgia runoff elections underway. While the Democrats led early on the two Republicans have now taken back the lead, in what is an incredibly tightly contested race that can still go either way.
Over 1 million people have converged on Washington and everyone is ready to see how this plays out.
Will Pence come through for President Trump? Will the Republican’s take Georgia? Will the public finally hear the evidence?
Time will tell.
The Data Agenda
We do see a little bit of data due for release today, with both the ADP employment report and FOMC minutes of some interest. However, clearly, the action is elsewhere.
For traders, we must follow the price action. Markets could see incredibly volatility both today and the rest of the week.
No one knows what is going to happen, so buckle up.
Forex Signal Update
The FX Leaders Team grabbed the one win on our USD/JPY signal as the Greenback continues to capitulate.
Make sure you follow our live signals as volatility is rising.
USD/JPY – Active Signal
The USD/JPY was a good win for us yesterday, and we are back in for another opportunity today.
Gold – Watching
GOLD tagged $1950 before easing off. This is one to watch today.
BTC held onto the $30,000 mark and is making another run at the $35,000 level.
Be on watch here as we could see another breakout today.