Free Forex Trading Signals For 1.7.2026
Midway through the first trading week of 2026, and the markets are already serving up a mix of reversals and consolidations that keep things intriguing. I’ve been up early scanning the overnight sessions, noting how yesterday’s momentum has fizzled in spots while picking up steam elsewhere—likely influenced by that fresh batch of US employment teasers and lingering eurozone inflation reads. From my perch, this year’s opener is underscoring how intertwined forex is with broader narratives like AI-fueled growth and energy transitions, but today’s setups scream caution with volumes still ramping back up. These calls stem from the price trails I’ve followed since the holidays, weaving in tech levels with my seasoned take on sentiment shifts. As ever, size your positions smartly; one bad news drop can rewrite the script.
EUR/USD
Current Price: 1.1688
The Euro’s given back a bit after yesterday’s bounce, easing from 1.1704 amid renewed dollar bids tied to solid US data previews. Tracking from early January lows around 1.1670 up to 1.1720 peaks, the pair’s now testing the 10-day SMA at 1.1690, just below the 20-day at 1.1695, suggesting the bullish flicker might be dimming. I’ve often found EUR/USD to lag when transatlantic policy gaps widen, and with ECB sounding more accommodative than the Fed, this dip aligns—though a surprise EU growth uptick could spark a quick flip. That 1.1670 support’s held firm lately; breach it, and sellers take over.
- Trend: Neutral with bearish bias
- Entry Point: Sell on rally to 1.1700
- Stop Loss: 1.1720 (above resistance to contain upside)
- Take Profit: 1.1665 (probing lower support)
GBP/USD
Current Price: 1.3484
Cable’s pulled back from 1.3517 highs, consolidating around 1.3480 as UK data came in mixed, tempering the prior rally. Since the new year, it’s ranged from 1.3450 to 1.3520, with the 10-day SMA at 1.3490 dipping toward the 20-day at 1.3470, hinting at fading upward push. In my view, GBP’s vulnerability to domestic headlines—like those energy bill caps—makes this retreat predictable, but resilient sterling flows from exporters could underpin a rebound. Not loving the setup for fresh longs until it clears 1.3500 convincingly.
- Trend: Bullish cooling off
- Entry Point: Buy at 1.3470
- Stop Loss: 1.3440 (below recent lows)
- Take Profit: 1.3525 (retesting highs)
USD/JPY
Current Price: 156.47
This pair’s ticked up slightly from 156.40, attempting to rebuild momentum after yesterday’s yen strength, trading in a narrow band from 156.30 to 156.60. The 10-day SMA at 156.50 sits atop the 20-day at 156.45, keeping the bullish slant intact despite the chop. I’ve navigated USD/JPY through plenty of BOJ-fueled swings, and with yields steady, this feels like a grind higher—unless Tokyo steps in with verbal jawboning, which has tanked it before. Favoring longs, but tightly managed.
- Trend: Bullish
- Entry Point: Buy on dip to 156.35
- Stop Loss: 156.10 (under support)
- Take Profit: 156.80 (aiming for overhead)
Gold (XAU/USD)
Current Price: 4447.16
Gold’s retreated from 4467 peaks, sliding toward 4440 as dollar firmness weighs in, but it’s still riding high from December’s 4340 base. The 10-day SMA at 4430 remains above the 20-day at 4400, preserving the uptrend amid ongoing haven appeals. Gold’s always been my go-to for hedging macro uncertainties, and with 2026’s early geo-flareups, this pullback strikes me as a buy-the-dip moment—though if equities stabilize, it might extend the correction. Watching that 4420 level closely; it’s been a pivot.
- Trend: Bullish with retracement
- Entry Point: Buy at 4440.00
- Stop Loss: 4410.00 (below SMA support)
- Take Profit: 4480.00 (recovering to highs)
BTC/USD
Current Price: 91519.15
Bitcoin’s taken a sharp dive from 94358, shedding value on what looks like profit-taking after the new-year surge, now testing 91000 support. The 10-day SMA’s plunged to 93000, crossing below the 20-day at 92500, flipping the outlook bearish. Crypto’s whims have taught me patience, but this drop smells of overleveraged longs unwinding amid regulatory murmurs—could bottom out if ETF demand returns, but for now, it’s seller’s territory. Stepping aside until clarity emerges.
- Trend: Bearish
- Entry Point: Sell at 91700.00
- Stop Loss: 92500.00 (above resistance)
- Take Profit: 90000.00 (targeting round support)
Summary Table for January 7th, 2026
| Asset | Current Price | Trend | Entry Point | Stop Loss | Take Profit |
|---|---|---|---|---|---|
| EUR/USD | 1.1688 | Neutral with bearish bias | Sell at 1.1700 | 1.1720 | 1.1665 |
| GBP/USD | 1.3484 | Bullish cooling off | Buy at 1.3470 | 1.3440 | 1.3525 |
| USD/JPY | 156.47 | Bullish | Buy at 156.35 | 156.10 | 156.80 |
| Gold (XAU/USD) | 4447.16 | Bullish with retracement | Buy at 4440.00 | 4410.00 | 4480.00 |
| BTC/USD | 91519.15 | Bearish | Sell at 91700.00 | 92500.00 | 90000.00 |
That’s the lay of the land for today—markets evolving as expected in this fresh year, but always ready for twists. If your charts tell a different story or you want deeper dives, chime in below. Onward to tomorrow’s action.
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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.