Forex Signals Brief for Jan 19: Greenback on the Rise
Rowan Crosby • 2 min read
US markets started the week quietly with the Martin Luther King Day semi-holiday, keeping trading volumes subdued.
The main mover yesterday was the Greenback, that saw more upside – a move that put pressure on the other majors.
The USD has been rallying ever since the 6th, which as we know was the day Congress chose to certify the electoral college results.
As I’ve been saying for weeks, I am still expecting more to come on the topic of voter fraud in the US which has not been addressed by the court system on any level. We have also recently heard from Director of National Intelligence John Ratcliffe, who put out a report saying China sought to interfere with the 2020 US Election.
Are we going to see something happen ahead of the inauguration? Let’s see. Time is running out.
The Data Agenda
Data is quiet to get the week underway and on Tuesday much of the attention is on some German numbers.
The main number of interest will be German ZEW which is on the improve, expected to increase to 60.0. While German CPI is also recovering, jumping to 0.5% in December.
Forex Signal Update
The FX Leaders Team grabbed the one win on our GBP/USD signal as the Greenback continues to rebound.
Make sure you follow our live signals as volatility is expected to rise this week.
EUR/GBP – Active Signal
The EUR/GBP is still consolidating around the lows. We’re shorting looking for another leg lower through this support level.
USD – Watching
As mentioned, the Greenback is breaking to the upside after putting in a base under 90.00.
After BTC failed at the $40,000 level we are starting to see that familiar triangle pattern start to form.
As I said, yesterday, we know that this is how Bitcoin likes to trade, moving between these periods of high volatility and low volatility.