Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
Dollar retreats from highs ahead of Yellen's testimony
2021-01-19 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver breaks down many support levels but recently buyers achieved to send price above 23.6% retracement area.
EU Market View
Asian equity markets mostly rallied with risk appetite spurred as trade picked up from Monday’s holiday. Treasury Secretary nominee Yellen is expected to call for big action to spur a recovery. Looking ahead, highlights from macroeconomic calendar include German ZEW, Yellen's Treasury Secretary confirmation hearing, BoE's Haldane, earnings from GS and Netflix.
EU Key Point
- Europe car sales plunged by the most on record in 2020
- Germany December final CPI comes at -0.3% vs -0.3% y/y
- USD/JPY continues to face stiff resistance just above the 104.00 area
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...