Forex Signals Brief for Jan 13: Pence Refuses to Invoke 25th Amendment

US Wrap

US Markets were mostly flat yesterday with political headlines still the main driver at the moment.

We recently heard that Vice President Mike Pence has refused to invoke the 25 Amendment to remove President Trump. This comes on the back of calls from leading Democrats such as Nancy Pelosi to remove President Trump, despite having days left in his official first term. An interesting move and most are asking why that might be the case.

US President Donald Trump also spoke publicly for the first time since the riots at the Capitol on January 6. President Trump was in Texas and warned that those looking to use the 25th Amendment would be making a big mistake.

The Data Agenda

As I’ve been saying, data is only secondary at the moment, however, there are a few numbers of note today.

The main one is US CPI which is expected to show that annual CPI is sitting at 1.6%.

Meanwhile, we will also get the latest WTI crude oil inventory data. Oil has broken out above the $50 level since that January 6 data, which is interesting.

Forex Signal Update

The FX Leaders Team finished with 3 wins from 6 trades as markets were relatively quiet.

AUD/USD – Pending Signal

The AUD/USD is through 0.7700 once again. We are looking at 0.7800 being a big resistance level. We continue to look to the upside for a long signal.

EUR/CHF – Active Signal

The EUR/CHF has been quiet this week as our signal remains open.

Cryptocurrency Update

BTC has been on a rolling coaster over the last week or two and we saw some more back and forth yesterday.

I’m watching the $30,000 level very closely because if that number drops then I will be very much biased to the downside.