empty
 
 
22.01.2021 11:18 AM
Trading recommendations for starters of EUR/USD and GBP/USD on January 22, 2021

The US dollar felt a local pressure yesterday. As a result, its position weakened in the markets.

The main event in the economic calendar was European Central Bank (ECB)'s meeting, where the regulator expectedly kept the base interest rate on loans at 0%, and the deposit rate at -0.5%.

The Central Bank and its head were expected to talk about specific future actions and words regarding long-term deflation in European Union, however, the regulator did say nothing new. The ECB just reiterated what was reported during the last meeting in December.

The market hardly made a reaction to the ECB meeting, which resulted in a below average activity.

In terms of statistics, there was a publication of weekly values on unemployment claims benefits in the US: the number of initial claims declined from 926 thousand to 900 thousand, against the forecasted decline of 910 thousand. On the other hand, the volume of repeated applications fell by 127 thousand, which was expected to rise by 129 thousand. Thus, this is considered a very good result.

The market did not react to the positive US statistics, maybe because they paid attention more to the ECB meeting.

What happened on the trading chart?

The EUR/USD pair showed an upward interest yesterday, but the movement was still limited to the range of 1.2130/1.2170. The quote slowed down the growth, resulting in an accumulation within the values of 1.2170.

The GBP/USD pair also managed to show an upward interest. The buyers successfully updated the high of the mid-term upward trend, but traders failed to keep their positions above the level of 1.3750. As a result, the price returned again below 1.3700.

This image is no longer relevant

Trading recommendations on EUR/USD and GBP/USD for January 22, 2021

Today, the United Kingdom published its retail sales data, where there was growth from 2.4% to 2.9%. However, there was a pessimistic reaction among the market, since retail sales were expected to rise to 4. 0%.

This disappointment of investors led to the pound sterling's weakness.

There will only be preliminary data on the business activity index of Europe, Britain and the United States. In general, a decline is expected.

If we analyze the current trading chart of EUR/USD, the pair can still be seen within the upper border of the range 1.2130/1.2170, while showing an upward interest.

In this situation, it is suggested no to hurry, but wait for the price to consolidate above 1.2190 in the H4 time frame, in order to confirm the upward trend signal. Otherwise, the quote may continue to fluctuate by 10-15 points within the range of 1.3130/1.3170.

This image is no longer relevant

As for the current trading chart of the GBP/USD, we can see that the area of 1.3700/1.3750 still puts pressure on buyers, which leads to a price rebound and a hold below the level of 1.3700. The quote must continue to be held below 1.3700, in order for the natural basis associated with the area of 1.3700/1.3750 to continue to be demonstrated in the market through short positions.

The mid-term upward trend will continue if the price is kept above the level of 1.3750 in the daily time frame.

This image is no longer relevant

Gven Podolsky,
Chuyên gia phân tích của InstaForex
© 2007-2024
Kiếm lợi nhuận từ những biến đổi giá của tiền điện tử với InstaForex.
Tải MetaTrader 4 và mở giao dịch đầu tiên của bạn.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $8000 nhiều hơn!
    Trong Tháng 3 chúng tôi xổ $8000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Các bài báo được đề xuất

Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.
Widget callback