Best Forex Pairs to trade today, based on DXY and USD movement – 13th Jan 2020 – Forex Forecast
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Forex Forecast Overview:
With this months and the first NFP data release of the year behind us, we now look at the areas to focus on throughout today and the rest of the week.
Following on from last weeks videos, I am still looking at potential in the EURUSD, USDJPY, GBPUSD and Silver.
Even though I believe that overall, the DXY will continue to rise, today shows potential trades against the Dollar. I already have buy trades on Silver and the EURUSD. Plus, as sell trade on the USDJPY.
Make sure you are watching out for Trumps tweets, as well as any news or developments regarding the US and Iran conflict.
Keep in mind, the UK government are busy trying to meet the January deadline for Brexit. I have been asked many times, how can I trade Brexit? What pairs are best to trade throughout Brexit?
My answer is, the GBP has the potential to keep rising, however, this won’t be one smooth upward trend. We need our entry point to be at the bottom of the swings. Like it is at the moment.
The EUR will gain through Brexit proceedings too, so don’t ignore a bull run for the EURUSD. This in turn will weaken the DXY, giving greater potential for other trades against the Dollar. Like the USDJPY sell trade I have active.
News Sources Below:
Economic Calendar (provided by Forex Factory) –
Top 5 Things to Watch This Week –
Forex Opinion & Analysis –
What are the technicals are signalling in the Forex Market today –
Forex Trade Setups based on the DXY –
What forex pairs to watch this week, EUR/USD, GBP/USD, USD/JPY –
CNBC World News –
US Tensions with Iran could overshadow US and China Trade Talks –
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