Free Forex Trading Signals For 1.16.2026
From my vantage point here in Hong Kong’s chaotic trading floors—where the coffee’s always strong and the screens never dim—the markets are wrapping up another intense week with the dollar still calling the shots after that stubborn US inflation data refused to cool off. It’s got me reminiscing about those early 2020s volatility spikes, when every data release felt like a landmine. Gold’s hanging tough as a haven, crypto’s on a tear despite the jitters, and the majors are bleeding out. I’ve pieced these signals together from the charts that kept me up last night, drawing on SMA crossovers and the raw feel of sentiment I’ve honed over countless Asian opens. Trade with conviction, but never forget: the market’s a beast that loves to humble even the veterans. Let’s get into it.
EUR/USD
Current Price: 1.1615
The Euro’s clawed back a smidge from yesterday’s 1.1599 plunge, but don’t let that fool you—it’s still trapped in a downtrend that’s been unrelenting since mid-December’s 1.1760 highs, grinding through supports like 1.1650 with barely a pause. The 10-day SMA’s dipped to 1.1610, crossing under the 20-day at 1.1625, signaling bears are firmly in charge amid eurozone stagnation and Fed hawkishness. I’ve traded this pair through enough transatlantic tugs-of-war to know it rarely bounces without a catalyst—like a surprise ECB move—but right now, with yields favoring the greenback, this recovery looks like a dead cat. Watch for a retest of lows if US retail sales disappoint later today.
- Trend: Bearish
- Entry Point: Sell on rally to 1.1630
- Stop Loss: 1.1655 (above SMA resistance)
- Take Profit: 1.1580 (probing deeper lows)
GBP/USD
Current Price: 1.3397
Cable’s edged up from 1.3373, but it’s a feeble attempt in what’s been a brutal slide from January’s 1.3517 peak, consistently failing at resistances like 1.3450. The 10-day SMA at 1.3385 sits below the 20-day at 1.3390, keeping the downward pressure on amid UK political noise and dollar flows. Sterling’s got a knack for surprising me with its grit—remember those post-pandemic rebounds?—but with energy bills still biting households and BOE’s hands tied, this feels like more downside brewing. I’d need a clean break above 1.3420 to even consider switching sides.
- Trend: Bearish with minor rebound
- Entry Point: Sell at 1.3410
- Stop Loss: 1.3440 (capping upside)
- Take Profit: 1.3350 (channel low target)
USD/JPY
Current Price: 158.04
The Dollar-Yen’s retreated from 158.63, pulling back as yen safe-haven bids picked up amid global risk wobbles, but it’s still perched above December’s 156.25 base. The 10-day SMA at 158.10 holds over the 20-day at 157.90, preserving the uptrend despite the dip. This pair’s been my go-to for yield plays since the Abe era, and with BOJ’s ultra-loose stance showing no cracks, I see this as a buying opportunity—though those 159 whispers of intervention keep me on edge, having seen sharp yen snaps reverse fortunes overnight. Bulls might reload if equities stabilize.
- Trend: Bullish correction
- Entry Point: Buy on dip to 157.80
- Stop Loss: 157.30 (under support)
- Take Profit: 158.80 (retesting highs)
Gold (XAU/USD)
Current Price: 4594.63
Gold’s softened from 4615.48, consolidating as dollar strength weighs, but it’s defended gains from early January’s 4420 launchpad amid persistent inflation bets. The 10-day SMA at 4605 remains above the 20-day at 4585, underscoring bulls’ resilience in a choppy tape. Out in these parts, where gold’s as much family heirloom as investment, I’ve watched it thrive in uncertain epochs like this—with geo-tensions bubbling and central banks hoarding. This pullback strikes me as healthy; I’ve added on similar dips before, but RSI cooling from overbought keeps me selective.
- Trend: Bullish consolidation
- Entry Point: Buy at 4580.00
- Stop Loss: 4540.00 (below SMA)
- Take Profit: 4640.00 (eyeing recovery)
BTC/USD
Current Price: 95290.35
Bitcoin’s eased from 96043.05, taking a breather after its explosive run from December’s 88k, but it’s held above key levels like 95000. The 10-day SMA at 95500 sits over the 20-day at 94000, maintaining bullish posture amid ETF inflows and adoption hype. Crypto’s given me more thrills (and spills) than any forex pair, and this dip feels like classic profit-taking before the next leg—though reg risks loom large. I’ve learned to buy these pullbacks when sentiment’s intact; overextended rallies crash hard, but this one’s got legs for now.
- Trend: Bullish with pullback
- Entry Point: Buy at 95000.00
- Stop Loss: 94000.00 (under SMA)
- Take Profit: 96500.00 (round target)
Summary Table for January 16th, 2026
| Asset | Current Price | Trend | Entry Point | Stop Loss | Take Profit |
|---|---|---|---|---|---|
| EUR/USD | 1.1615 | Bearish | Sell at 1.1630 | 1.1655 | 1.1580 |
| GBP/USD | 1.3397 | Bearish with minor rebound | Sell at 1.3410 | 1.3440 | 1.3350 |
| USD/JPY | 158.04 | Bullish correction | Buy at 157.80 | 157.30 | 158.80 |
| Gold (XAU/USD) | 4594.63 | Bullish consolidation | Buy at 4580.00 | 4540.00 | 4640.00 |
| BTC/USD | 95290.35 | Bullish with pullback | Buy at 95000.00 | 94000.00 | 96500.00 |
That’s my wrap on today’s setups—markets evolving as 2026 finds its rhythm, but always one headline away from chaos. If you’re in HK or elsewhere, drop by @topfxbrokers on X for broker tips or share your takes. Trade safe out there.
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Disclaimer: These forex trading signals are for educational purposes only and not financial advice. Trading carries significant risks, including the potential loss of your entire investment. Always consult a professional advisor before jumping in.