Jan 11 2021 0
The US winter outbreak hit the economy, and this was evident in last week's NFP data. However, despite this, the USD is still recovering from lows.
- Unexpectedly bad NFP data, the actual number showed that in December, the US employment fell by 140k instead of creating 60k-100k as expected.
- Democrats are still actively pushing actions to try to get rid of Trump as soon as possible, threatening to pursue impeachment of Trump.
- Japan was pessimistic about the growth situation when the government decided to block some places.
- China also blockade a city of 11 million people when an outbreak of 200 people is found.
The price was stopped around 104, but the selling pressure around this zone quickly subsided and now the price has re-tested this zone. If you still have a buy order, consider exit because the price is at the upper boundary of the downtrend, the current resistance range is relatively large, so we can still wait for the signals to return to the downtrend. 104-104.5.
The price has successfully broken the confluence area of 1.225, the sell orders are activated and are profitable, consider exiting the partial order or moving the SL, only adding short orders when the price officially breaks the 1.215 zone then the target will be around 1.20.
The price has not been able to break the threshold of 1,355, but the signs that this is about to happen are quite clear, the sellers continuously pressed prices to this zone, while the buying power was weaker and weaker. We continue to keep the old strategy, hold on to previously profitable exploration short and look for opportunities to replenish sell orders on the successful dumping of 1,355.
Prices are still accumulating and forming a rounding bottom pattern around the low range for many years. However, don't be in a hurry at this time, reversal traders should only consider buying orders when the price breaks down to 1.280.
After attempting to retest the 0.78 price zone, once again the sellers returned and pushed the price down, this price action created a classic head and shoulders reversal pattern, sellers could consider. On sell orders, the initial target will be the lower boundary of the upside channel.