Friday 13 January Daily Forex trading tips USD bearish?


Friday 13 January Daily Forex trading tips,  ahead of speeches from MPC member Saunders and FOMC Harker. Markets are expecting positive economic news out of USA later today. Will USD bears relinquish control? 

AtoZForex-A brief summary look at the day ahead, with insights into the Daily Forex trading tips.  On the economic calendar today there are four (4) remaining high impact data news events. There are two (2) medium impact news non-data based events. As GBP recovers, will be see further downside today?

Friday 13 January Daily Forex trading tips

AtoZforex Hint: Do not trade on a single news event, look at the total picture when news releases are at similar times. 

 # 1 EURUSD – Friday 13 January Daily Forex trading tips

Fundamentals –  Focus will remain on ECB, BoE and elections in Europe.

Economic side  There is no news from the European side today except for UK.  USD continues to be main driver for this currency pair.

Technicals Intraday (H1 chart) – Currently, the hourly 20sma (sloping down) and above the 100sma (slightly sloping up).  MACD is in bullish territory and RSI are in the neutral zone.  Price eased off after respecting the 1.0685 resistance level.  Yesterday’s pending order was not triggered.  Order was cancelled.   On the down side, we would like to see a clear break below the 1.0480 support level to shift our bias on the bearish side.

Fx Pending order – none

Please use correct risk and money management in line with your account size and draw down plan. These are not recommendations, you must carry out your own due diligence. 

AtoZ Forex Daily Free Forex Signals

#2 GBPUSD – Friday 13 January Daily Forex trading tips

Fundamentals –  Brexit negotiations still main driver for the GBP and will remain so for the next two years. This month we expect a Supreme Court ruling on the High Court decision, that gave the UK parliament a input into the Brexit negotiations details.

Economic side- There is a BoE Credit conditions survey and MPC Member Saunders speaking today.

Technicals Intraday (H1 chart) – Yesterday’s Sell order did trigger, price hit our TP1 target and closed entire position.

Currently, we have mixed signals, with price above both moving averages. The hourly 20sma and 100sma are sloping down, with the 20sma above 100sma.  MACD histogram and signal line are in bearish territory below the neutral level. RSI is in the neutral zone at the 50 level .  Price respected the 61.8% Fibonacci retracement zone at 1.2269 level, reported yesterday this was a pullback before continuing on the bearish side.  We are remain confident that  clear break below and retest of the 1.2110-1.2105 zone would test the next support at 1.1985 level, however expect some resistance at the 1.2000 support level.

Fx Pending  :  none

# 3 NZDUSD – Friday 13 January Daily Forex trading tips

Fundamentals – No current fundamental news expected

Economic side- There are no high-impact New Zealand economic data today.

Technicals Intraday (H1 chart) –  The following order see below first reported earlier this week, closed out with a profit.

Fx Closed Order  : BUY LIMIT @ 0.6988; Stoploss @ 0.6948; TP1 @ 0.7048; target achieved. 

Price is below/near the hourly 20sma and is sloping flat, which is above the 100sma which is sloping up. MACD histogram and signal line are above the zero level. RSI in the neutral zone.

Fx Pending Order (new) : BUY LIMIT @ 0.7062; Stoploss at 55pips; TP1 at 78pips 

Fx Pending New Order  : SELL LIMIT @ 0.7158; Stoploss at 50pips;  ; TP1 at 75pips 

Please use correct risk and money management in line with your account size and draw down plan. These are not recommendations, you must carry out your own due diligence. 

Think we missed something? Let us know in the comments section below.

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