EUR/GBP targets with confidence higher

EUR/GBP targets with confidence higher

2021-01-18 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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Fibonacci Levels

XAG/USD: Silver breaks down many support levels and stands just above 23.6% retracement area.

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EU Market View

Asian equity markets began the week cautiously after Friday’s losses on Wall St. Mixed Chinese GDP added to the tentative mood for stocks.  European stock markets are seen opening marginally lower Monday, starting the week on a downbeat note given Covid-related concerns, and not reassured by healthy-looking Chinese economic growth. China reported Monday that its economy grew 2.3% last year, as its gross domestic product rose by 6.5% in the fourth quarter from a year ago. Today's calendar sees a lack of tier 1 releases. US markets are closed for Martin Luther King Day.

EU Key Point

  • UK vaccine deployment minister: Everyone will be offered a vaccine by September
  • Japan's Nishimura says economy to return to pre-pandemic levels this coming fiscal year
  • Germany reports 7,141 new coronavirus cases in latest update today

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