Jan 22 2020 0
Check out the latest updates on daily charts of the most common pairs to see what trading strategies we should choose for today, January 22:
- The newspaper published by Bundesbank earlier this week showed that German exports may bottom out earlier this year. Investor confidence has continued to improve. Specifically: ZEW's expectation index for the next six months rises to 26.7 in January - the highest level in 4 years.
- Facing the possibility that the Bank of England may lower interest rates within this month. Today, the labor sector data showed a surprise which helped GBP recover.
- The trial of President Donald Trump's impeachment in the Senate begins Tuesday amid intense debate over the rules set by the Republican majority. However, given that his side is in the majority in the Senate, the chances of him being convicted are low.
USD/JPY is still falling well but has not been able to overcome the confluence zone 109.7, we now have more bearish signals of bearish engulfing models on both daily and H4, continuing to hold the bearish view and short positions for this pair.
The signal that the battery bar increased on daily seems to have failed, the price only recovered in the first half of the session, then dropped again and could not cross the MA20 line on H4. With such price action, the high probability of the zone of 1.107 will be broken. However, it may be just an SL scan to shake off the fledgling traders on the big frame, I am still inclined to buy one last chance at the lower boundary of the descending channel.
Labor data unexpectedly made GBP/USD recover but could not break through the downtrend line. Therefore, there has not been much change to make us change the view decrease for this pair. Those who have short, they can "try to eat away" but no order, you should wait for the breakout signal from the compression and then decide.
Price has broken out, this is a signal that you can consider long orders. However, the front is a relatively stiff 1.312 resistance area so the trade becomes quite risky, you should consider.
The price is strongly decreasing to the 0.682 zone, as mentioned, this is the last stop of the buying side so we will have two scenarios: 1/if the price creates a rising candle, you can consider buying with RR very well. 2/If the breakout price is successful, the probability of a return to 0.675.