Jan 20 2021 0
The most important political event in the US - the inauguration of the new President - will take place today, you should note the risk issue, the trading orders should be reduced in volume and expanded the SL.
- "Any tax increase should focus on high-income companies and businesses," she said in Senate hearing.
- The number of deaths caused by Covid-19 in the US officially reached 400,000.
- There are still a lot of risks that could come this week, including:
- Concerned about unrest during Joe Biden's inauguration.
- The impeachment trial of President Trump.
- Central Bank of Japan (BoJ) and Europe (ECB) meetings on weekends.
- The International Energy Agency (IEA) said recovery in oil demand would be affected by a spike in new coronavirus infections before the vaccine was widely deployed and the stimulus measures took place. likes to support economies.
The price has yet to complete the reversal pattern, it was rejected once again by the 103.6 zone, however, the selling pressure above is still blocking the upside momentum, no higher high is created so we still have. can follow the old tactics. Continue to hold the existing short positions and wait for additional opportunities as the price breaks through the 103.6 zone, the original target target remains around 103. In case the price breaks down of the 104.4 resistance zone, we will temporarily abandon the sell orders.
A correction occurred as warning, the 1.208 price area has not been broken and the price is returning to retest the 1.215 zone. Hopefully you guys have fixed a part of profits and/or moved SL as recommended. The pin bar pattern rising around 1.21 is quite weak, but the recovery momentum in the last session is very noticeable, so it is likely that it has not stopped yet and may continue testing higher levels. In the new session, we need to closely observe the 1.215 and 1.225 zones. If there are reliable bearish signals around these price ranges, new short orders should be considered. Besides, it is not excluded that the correction has ended and the price might return to the mainstream uptrend.
The price has broken through the 1.36 zone and headed for the 1.37 zone, as noted in the previous comment, the signals are conflicting and it is not a good time to trade GBPUSD. In the new session, continue to observe the area of 1.37, if the price can break this area, trend followers might consider returning to the market, the next target might be around 1.38. In case the sellers successfully defend this price zone, the range is likely to continue and brothers trading sideways can take advantage of the bearish signals if any.
Price has not changed much from the previous session, we still keep our old judgment, price is likely to continue going down with current downtrend. For brothers with a reverse trade, consider buying only when the price breaks the 1.28 zone.
The price has not yet broken out of the 0.77 zone, it is currently fluctuating around the trend line. Continue to wait patiently for the signal to complete the pattern to enter sell orders. Initial target remains around 0.75.