
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
2021-01-22 • Updated
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.
XAG/USD: Silver stands lower on the key retracement area of 38.2%. It seems that bulls lose control for another day.
Asian equity markets traded cautiously after the mixed lead from Wall St where most indices stalled at record levels. European stock markets are seen opening lower Friday, ending a generally positive week on a cautious note amid concerns that growing Covid-19 cases will stunt economic growth. European Central Bank President Christine Lagarde warned Thursday that ever-increasing Covid-19 numbers and restrictive measures, such as lockdowns, to curb the spread of the virus could challenge the region’s economic outlook.
Lagarde also indicated more clearly than ever that the ECB would not use the full amount of its chief bond buying program if it does not need to.
In FX markets, USD remained subdued, EUR/USD held on to yesterday's gains and GBP/USD oscillated around 1.37. Looking ahead, highlights from macroeconomic calendar include UK and Canadian retail sales, EZ, UK, US flash PMIs, existing home sales.
Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
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