Jan 29 2021 0
Today is not only the end of the week but also the month. There will be surprises. So please trade with cautions and analyze the charts carefully.
- Major stock indices on Wall Street have seen their biggest 3-month drop (%) as hedge funds liquidate positions to increase liquidity after suffering losses on short positions on stocks. other votes in the context of increasing retail speculation activities. This has helped promote the need for safe haven for US currency.
- Together with support for the recovery of the USD, FED was more pessimistic about the economic outlook, worried that the recovery momentum would slow down and monetary policy was maintained.
- German Health Minister Jens Spahn said on Thursday that he predicts a vaccine shortfall will continue until April and the government continues to face criticism over the pace of implementation. vaccination.
- Remarks from ECB policymaker, Olli Rehn continued to put pressure on the euro.
USD/JPY
The price did not see too strong selling pressure around 104.4, and created a new peak, confirming the increasing structure although it is not really clear. Trend traders and breakout traders can consider buying orders to the 105 area. In addition, can also wait to buy around 104 when the price re-test this area and create signals to increase.
EUR/USD
Prices did not change much from the previous session. Those who have sold the flag pattern can continue to hold orders. However, again that the price is showing relatively strong buying pressure. Moreover, it is facing a strong support zone, which is the confluence of the long-term uptrend channel and psychological resistance zone 1.2. Therefore, sell orders will face many risks. Consider selling in the short term only and the target should not exceed 1.2
GBP/USD
The price is once again limited in the sideways range of 1.363-1.375. This accumulation zone lasted for nearly half a month. Note: the longer it accumulates and the narrower the amplitude is, the stronger the disruptive force. We continue our old strategy: wait for a breakout of either band before deciding to trade.
USD/CAD
After getting close to the 1.29 target, the price has taken a standard retest to the 1.28 zone. This is a second chance for you to have time to enter the order. Put Stop Loss below this price zone and the RR ratio is pretty good. The next target will be the zone 1.295. However, if the selling pressure around the trend line becomes stronger, we might consider exiting early.
AUD/USD
Price is doing a standard retest around the 0.767 transition zone. The bearish signal also reappeared on the H4 chart. If you have not been able to sell before, this is your second chance. However, it should be noted that yesterday's rise created a remarkable bullish pin bar pattern on the daily chart, so it is not excluded that the price will continue Going up the upper boundary of the short-term downtrend line. The Stop Loss should be placed carefully.
