Dec 30 2020 0

Although there is no economic data that is considered as strong, the volatility in the first session of the week is also quite high and creates remarkable changes.. So let's get ready to change your trading strategies.

Latest updates

  • Tensions between the US and China are hot again. The Trump administration on Monday bolstered an executive order banning U.S. investors from buying securities of companies allegedly controlled by the Chinese military, following disagreement between US agencies over the level of hardness in making an indication.
  • The dollar slumped further on Tuesday as market participants continue to value a strong global economic recovery in 2021, which will benefit the group of cryptocurrencies. interest rates and currency groups in emerging markets.
  • The move to increase risk demand was spurred by the House vote, approving President Donald Trump's initiative to increase the size of direct payments to households to $2,000 from the previous $600.

USD/JPY

Dec 28 USD/JPY

The price did not violate the 104 zone, which means that the previous short orders are still retained. Selling pressure is getting strong again so we keep holding orders with the target of the December lows.

EUR/USD

Dec 28 EUR/USD

After yesterday's short-term trend line breakout signal, price continued to go up and re-tested the upper bound of the accumulation zone. The bearish pin bar pattern around this zone has also been invalidated, so it is highly probable that the price will follow the first scenario, i.e. break the resistance at 1.227 and continue the uptrend. Trend traders need to wait for a confirmation breakout to enter the order. If more careful, we can wait for a slight pullback before placing orders. The target will be zone 1.240.

GBP/USD

Dec 28 GBP/USD

After the strong drop in the first session of the week, the price has recovered slightly in the last session but in general it is not worrying because the bearish patterns are still intact. Hold on those short positions and target around 1.33. We should abandon short-term selling only when the high of December is broken.

USD/CAD

Dec 28 USD/CAD

A set of bullish pin bar candles we were waiting for finally appeared around the 1.280 conversion zone. However, it was not as strong as expected. Therefore, buy orders should only be entered with exploration volume, in case this pattern is invalidated. In case the top of the pattern is broken, you might consider adding long positions. Note that this is the last stop for you to buy. We will temporarily abandon a buy strategy when the 1.280 zone is broken.

AUD/USD

Dec 28 AUD/USD

There are no new signals we can take advantage of on the AUDUSD chart. However, continually retesting the range top in a short time increases the possibility of price breakout and continuing uptrend. In that case, bulls may consider buy orders. However, it is necessary to have confirmation signals. Do not enter the order too early because it's easy to get bull traps.

author

Fanara Filippo

Hey, I’m Fanara Filippo. I’m the founder of this site. I'm currently living in Bangkok, Thailand. I have been trading forex for more than 5 years. You can read my articles about the best forex brokers on this page. Let’s review brokers today.

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