
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Don’t waste your time – keep track of how NFP affects the US dollar!
Data Collection Notice
We maintain a record of your data to run this website. By clicking the button, you agree to our Privacy Policy.
Join Us on Facebook
Stay on top of company updates, trading news, and so much more!
Thanks, I already follow your page!Beginner Forex Book
Your ultimate guide through the world of trading.
Check Your Inbox!
In our email, you will find the Forex 101 book. Just tap the button to get it!
Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.
77.93% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.
You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.
Information is not investment advice
The year 2020 started with the EUR/USD touching the bottom of 1.08 as it was making the way for the downtrend through the entire 2019. After a fierce shock easily visible as heavy fluctuation in February-March, the pair reversed and started actively marching upwards. Eventually, the EUR appreciated against the USD as high as 1.20 by December, coming closer even to 1.22. By climbing this high, EUR/USD recovered all the losses of 2019 and came to the heights of January-April 2018.
On the monthly chart, breaking through 1.22 would challenge the decade-long downtrend EUR/USD has been in so far. However, technically, only beating 1.24 would confirm the possibility of this strategic reversal – that’s what may happen in 2021 if bulls keep pressing the EUR against the USD. Fundamentally, there needs to be a persistent weakness of the USD to allow that. Are there factors for the USD’s weakness? There are. The US Fed keeping the interest rates low and possibly maintaining quantitative easing line to keep the US economy marching, the general setting of the American global economic presence gradually giving room to the alternative global powers, and other tectonic movements. Will they be enough to push EUR/USD to 1.24? Very possibly.
This currency pair has spent most of the year 2020 oscillating between 0.89 and 0.91. There were a couple of spikes up to 0.93 but that was more of an exception – and every such spike was followed by a correction down to the same 0.89.
On a monthly chart, coming to the heights of 0.90 roughly completes the five-year-long recovery of EUR/GBP symmetrical to the descent to 0.70 it did during the years 2010-2015. If that assessment is correct, going to 0.93 and above is very likely for this pair in the coming year. Fundamentally, there may be ground for that: the British pound has hardly more factors on its side against those on the euros. The first quarter of 2021 will bring more clarity on that.
After a shockwave in January-February 2020, USD/JPY went into a downward trajectory that stretches from 110.00 to 103.00. Visibly, there is little technical evidence to suggest that this trend would see much change in the future.
From a strategic point of view, coming down from 110.00 to 100.00 is an organic continuation of the large downslope that started above 120.00 in 2015. In the meantime, the area around 100.00 has been providing support to the currency pair movement since before 2015 and after that year. Currently, USD/JPY is exactly at this support so beware: technically, a bounce upwards is very possible in the coming year.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later