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12 January Daily Forex trading tips USD bearish?
12/01/2017
12 January Daily Forex trading tips USD bearish?

12 January Daily Forex trading tips,  ahead of speeches from FOMC Evans and Harker. Yesterday’s President-Elect Donald Trump’s address was a farce with unclear detailed vision on many areas. Today with Unemployment Claims expected to rise. Will we see USD pullback to 114.00 level? 

12 January, AtoZForex-A brief summary look at the day ahead, with insights into the Daily Forex trading tips.  On the economic calendar today there are one (1) remaining high impact data news events. There are two (2) medium impact news non-data based events. Is GBP on its road to recovery?

12 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 – 12 January Daily Forex trading tips

12 January Daily Forex trading tips USD bearish?

Daily Forex Trading Tips for EURUSD H1 (click to zoom in)

Fundamentals –  Focus will remain on ECB, BoE and elections in Europe.
Economic side  Today we have the ECB Monetary Policy Meeting Accounts Europe today. It is a non-data news release. It’s a detailed record of the ECB Governing Board’s most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.  USD is the current main driver for this currency pair.

Technicals Intraday (H1 chart) – Currently, the hourly 20sma (sloping up) has crossed above the 100sma (slightly sloping up).  Both other indicators MACD and RSI are in bullish territory. Price eased off after almost touching the 1.0665 level.  Yesterday, we shared taking a long from the a clear break of 1.0565 level.  Those who took the long position saw our 60pip target easily achieved.   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 – Buy limit @1.0592; SL of 60pips; TP of 90pips

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 – 12 January Daily Forex trading tips

12 January Daily Forex trading tips USD bearish?

Daily Forex Trading Tips for GBPUSD H1 (click to zoom in)

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- No high impact UK data today. Only those from the US that would impact GBP.

Technicals Intraday (H1 chart) – Sell order 2 did trigger, unfortunately, price hit our stop-loss after price fell short of our 1.2028 target by 10pips. Fx Pending Order 2  : SELL LIMIT  @ 1.2104; Stoploss @ 1.2155; TP1 @ 1.2028;

Currently, we have mixed signals, with price above both moving averages. The hourly 20sma is sloping up and 100sma are sloping down, with the 20sma below 100sma.  MACD histogram and signal line are in bullish territory the neutral level. RSI is above the 60 level in bullish territory.  Price touched 1.2316 and currently at the 61.8% Fibonacci retracement zone at 1.2269 level (at time of writing). The bias for the GBPUSD is leaning on the bullish side, however we would like to see a break above 1.2430 level to shift bias on the bullish side.
The current price movement could be part of a pullback before continuing on the bearish side.  We are 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  : SELL / SELL LIMIT  @ 1.2258; SL at 60pips ; TP1 at 90pips; TP2 at 130 pips;

# 3 NZDUSD – 12 January Daily Forex trading tips

12 January Daily Forex trading tips USD bearish?

Daily Forex Trading Tips for NZDUSD H1 (click to zoom in)

Fundamentals – No current fundamental news expected
Economic side- There are no high-impact New Zealand economic data today.

Technicals Intraday (H1 chart) –  Our buy limit from yesterday was triggered, price went more than half way towards our target before reversing direction. Price reversed from a 110% Fibonacci retracement zone at 0.6963 to its current position. Price is above the hourly two moving averages. The hourly 20sma is sloping up, which is above the 100sma which is sloping up. MACD histogram and signal line are above the zero level. RSI in the bullish territory above 60.

Fx Pending Order  : BUY LIMIT @ 0.6988; Stoploss @ 0.6948; TP1 @ 0.7048 (currently playing out)
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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