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Daily Forex Market Analysis For January 25th 2016

EUR/USD And GBP/USD Market Analysis

I’m going to be combining the text for both the EUR/USD and the GBP/USD to start the week. As far as the EUR/USD goes, I will continue to trade with an open directional bias in regards to short term price action. With that being said I do have a much stronger bias to the downside given the Draghi comments. We need a few days to see how the market is going to react though. What he said was more of a long term perspective and therefore the market might rally before starting to price in future monetary policy. I will have two upper and two lower manipulation points from which I would trade any valid stop run. Going over to the GBP/USD, I think we are in a very interesting position given the massive selloff over the last month. Last week ended pretty much right where it started which was right around the 1.4250 area. I see this point as the short term line in the sand to the downside. This is actually my first lower manipulation point on the Pound and will be watching that level closely. To start the week I’m dropping the previous market cycle we had running at the end of last week. Friday we were looking for the second push to the upside but the large retracement means I would rather go to an open bias and trade any stop run of a valid manipulation point. 


EUR/USD Chart - January 25th 2016


GBP/USD Chart - January 25th 2016

Forex News For January 25th 2016

German IFO Business Climate 4:00 AM Eastern: This is a news item that I would avoid holding a Euro trade into. It is however right on the verge of going off the list as it has been a dud over the last 6 months. Once more month of a lame response and I will be carrying into it. This news has one of worst track records for actually following through in the direction of the news. Should this spike into a major previous turning point you can count on the market reversing. If this news creates a stop run I would love to trade against it. This month the expected number is 108.4


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