Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
Today at 14:45 MT time, the European Central Bank releases its monetary policy statement. Shortly after that, we will hear the comments by the ECB President Christine Lagarde at 15:30 MT time. The expansion of the Pandemic Emergency Purchase Program (PEPP) last month to 1.35 trillion euros put the European markets on more stable ground. The monetary stimulus combined with better economic data (improved CPI for Germany, better-than-expected PMIs for Germany, France, Eurozone in general) pushed the euro levels against the USD to last March’s. Some analysts worry that the regulator will hold its bond-buying program earlier than needed.
It’s all about balance. According to analysts, Ms. Lagarde needs to acknowledge that the data is improving, but, at the same time, to confirm the inevitability of a stimulus until clearer figures on employment and corporate bankruptcies. At the same time, the ECB President will likely ask the European governments once again to provide a joint fiscal stimulus. Some experts suggest that reaching a consensus between the member countries may be the trigger for EUR/USD’s jump towards 1.15.
Therefore, the main focus will be on the press conference with Christine Lagarde at 15:30 MT time.
EUR/USD
Daily resistance levels: 1.1450; 1.1500; 1.1560
Daily support levels: 1.1340; 1.1288; 1.1190
After the test of the 1.1450 level yesterday, the pair corrected lower. There’s a “shooting star” candlestick on the daily chart. Also, we can see a bearish divergence with the MACD oscillator. Technically, we may expect the pair correcting even lower to 1.1340. At the same time, bulls may take action during the ECB meeting. As a result, the retest of 1.1450 is also possible today.
EUR/AUD
Daily resistance levels: 1.6420; 1.6550; 1.6708
Daily support levels: 1.6200; 1.6080
If you trade this pair, you need to focus on a breakout of the long-term descending trendline (the key point lies at 1.6420 – 50-day SMA). The Australian dollar got weaker after the worse-than-expected unemployment rate (7.4% vs. 7.2% expected). If the euro gets stronger, the breakout of the long-term resistance will motivate buyers to push the pair towards the 200-day SMA at 1.6550. The support is placed at 1.62.
EUR/GBP
Daily resistance levels: 1.9178; 1.9315
Daily support levels: 1.8944; 1.8870
The pair keeps trading within the ascending channel. At the moment, bulls keep pair close to the 50 Fibo level. The resistance lies at 0.9178, while 50-day SMA is acting as a dynamic support.
Joe Biden will take the post of president of the USA on the morning of 20 January 2021. Trump is going to skip the inauguration. What will be the market reaction? Let’s find out!
What are the forecasts for silver, platinum and palladium?
USD/CAD continues dipping. Follow US jobless claims and the speech of Fed’s Powell!
Asian equity markets were mostly positive as the region partially sustained the momentum from the tech-led gains on Wall Street.
U.S. stocks are set to reopen higher after the Martin Luther King Day holiday on Monday, with Yellen’s remarks a welcome reminder of the momentum behind economic stimulus measures.
Joe Biden will take the post of president of the USA on the morning of 20 January 2021. Trump is going to skip the inauguration. What will be the market reaction? Let’s find out!
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
