Risk-on momentum remains strong

Risk-on momentum remains strong

2021-01-20 • Updated

2021_01_20_10_16_13_Template1_Autosaved_PowerPoint.png

AUDJPYM30.png

2021_01_20_10_19_13_Template1_Autosaved_PowerPoint.png

EURJPYM30.png

Ichimoku Kinko Hyo

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

USDJPYM30.png

Fibonacci Levels

XAG/USD: Silver bulls return and send price at the 38.2% retracement area.

XAGUSDH4.png

EU Market View

Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall Street. Looking ahead, Asian shares climbed to a record high on Wednesday after US Treasury Secretary nominee Janet Yellen advocated for a hefty fiscal relief package to help the world's largest economy ride out a pandemic-driven slump. US President Donald Trump, in a farewell address released on Tuesday, touted his legacy, and wished luck to the new administration even though he steered clear of acknowledging his successor by name.

Highlights from macroeconomic calendar include UK, Eurozone, Canadian inflation, BoC rate decision and press conference, US Inauguration Day, BoE's Bailey speeches.

EU Key Point

  • Dollar nerves starting to be more evident as the session gets underway.
  • Germany discovers new coronavirus variant in 35 hospital patients.
  • Germany reports 15 974 new coronavirus cases, 1 148 deaths in latest update today.

 

TRADE NOW

Similar

How will the reporting season affect US indices?
How will the reporting season affect US indices?

Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.

Stocks to trade in July
Stocks to trade in July

When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.

Top Stocks to Trade this Earnings Season
Top Stocks to Trade this Earnings Season

The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.

Latest news

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

XAUUSD: Will Gold Continue to Rally?
XAUUSD: Will Gold Continue to Rally?

Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera