| EUR/USD: plan for the European session on January 4. COT reports. Buyers have a chance for the euro to rise, but they need to return to 1.2267 2021-01-04 To open long positions on EUR/USD, you need: The euro's sharp decline at the end of 2020 was not very surprising, as was the fact that demand for the US dollar could return as early as 2021, although this phenomenon will be temporary. It is possible that trading volume and volatility will remain low early this week as the market rebounds from the New Year and Christmas holidays. Buyers must regain control over the 1.2267 level, this will make it possible to count on renewed demand for the euro. A breakout and getting the pair to settle above this range along with being able to test it from top to bottom creates a good signal to open long positions. The main task is to update last year's high in the 1.2304 area, the breakdown of which will open a direct path to the area of 1.2339 and 1.2417, where I recommend taking profit. Today's data on activity in the manufacturing sector of the eurozone countries is unlikely to harm EUR/USD buyers, but if the downward correction persists, I recommend opening long positions after a false breakout in the support area of 1.2236. A larger level can be seen already in the 1.2205 area, and I recommend buying EUR/USD on a rebound from a low of 1.2174, counting on an upward correction of 20-25 points within the day. 
To open short positions on EUR/USD, you need: Sellers of the euro aim to regain control of the 1.2236 level, which they missed in today's Asian session. Getting the pair to settle below this range and testing it from the other side will raise the pressure on the pair, which creates a good entry point for short positions. In this case, the main goal is to pull down EUR/USD to support at 1.2205, as well as to update a larger low around 1.2174, where I recommend taking profits. Testing this area will also indicate a continuation of the downward correction and a complete reversal of the upward trend in the euro. An equally important task for the bears is to protect resistance at 1.2267, slightly above which the moving averages are, playing on the side of the euro sellers. Weak data on December activity in the manufacturing sector of the euro countries will certainly put pressure on the euro. Forming a false breakout at 1.2267 will be a signal to open new short positions. In case the pair grows above 1.2267, it is better not to rush to sell, but wait for last year's highs in the area of 1.2304 and sell the euro there, counting on a downward correction of 25-30 points within the day. Let me remind you that the Commitment of Traders (COT) report for December 21 recorded an increase in both short and long positions. Buyers of risky assets continue to believe in a bull market amid news that vaccination against the first strain of coronavirus has begun in Europe. However, there are still quite a few problems due to the quarantine measures taken after the detection of a new strain of Covid-19 that appeared recently in the UK. Thus, long non-commercial positions rose from 218,710 to 222,443, while short non-commercial positions jumped from 76,877 to 78,541. The total non-commercial net position rose from 141,833 to 143,902. Indicator signals: Moving averages Trading is carried out below 30 and 50 moving averages, which indicates the continued likelihood of a downward correction in the euro at the beginning of this year. Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differs from the general definition of the classic daily moving averages on the daily D1 chart. Bollinger Bands In case the pair falls, support will be provided by the lower border of the indicator in the 1.2205 area. A breakout of the average border of the indicator in the 1.2267 area will cause the euro to rise. Description of indicators - Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 50. It is marked in yellow on the chart.
- Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 30. It is marked in green on the chart.
- MACD indicator (Moving Average Convergence/Divergence — convergence/divergence of moving averages) Quick EMA period 12. Slow EMA period to 26. SMA period 9
- Bollinger Bands (Bollinger Bands). Period 20
- Non-commercial speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
- Long non-commercial positions represent the total long open position of non-commercial traders.
- Short non-commercial positions represent the total short open position of non-commercial traders.
- Total non-commercial net position is the difference between short and long positions of non-commercial traders.
GBP/USD: plan for the European session on January 4. COT reports. Pound tries to surpass last year's highs, even against the backdrop of strict quarantine in the UK 2021-01-04 To open long positions on GBP/USD, you need: The British pound is preparing to surpass a major resistance at 1.3690, which was updated late last year. A breakout and consolidation above this level and being able to test it from top to bottom creates a good entry point into sustaining the bull market. The data on activity in the UK manufacturing sector, which will be released this morning, can support buyers in their goal. If the reports turn out to be better than economists' forecasts, we can expect a larger upward movement to the 1.3750 high and its renewal, with an exit to the 1.3803 area, where I recommend taking profit. If the pound is under pressure this morning, and we will not wait for it to be active in the 1.3690 area, then it is best to wait for a downward correction and open long positions only after a false breakout in the support area of 1.3629, where the moving averages are, playing on side of buyers pound. I recommend buying GBP/USD immediately on a rebound from a low of 1.3573, counting on an upward correction of 25-30 points within the day. 
To open short positions on GBP/USD, you need: The pressure on the British pound may return at any moment, as nothing positive is expected at the beginning of this year. Several factors can weigh on the pound, which includes maintaining strict quarantines due to the new Covid-19 strain and the unclear work of supply chains in the UK after the introduction of new rules of the UK-EU trade deal. Therefore, the bears will try to prevent GBP/USD from rising above resistance at 1.3690. Forming a false breakout there in the first half of the day will be a signal to open short positions, while counting on a downward correction to a low of 1.3629, where the moving averages are, playing on the side of the pound buyers. A breakout of this range will quickly push GBP/USD to the 1.3573 low, where I recommend taking profits. If the pound continues to smoothly strengthen its positions after today's reports on manufacturing activity, then it would be best to postpone short positions until the 1.3750 highs are renewed, or to sell the pair immediately on a rebound from resistance at 1.3803, counting on a downward correction of 30-40 points within the day. Let me remind you that the Commitment of Traders (COT) reports for December 21 recorded an increase in interest in the British pound, both among buyers and sellers. Long non-commercial positions increased from 35,128 to 37,550. At the same time, short non-commercial remained practically unchanged and increased only from 31,060 to 31,518. As a result, the non-commercial net position remained positive and grew from 4,068 to 6,032. All this suggests that traders continue to bet on the strengthening of the pound, even in the face of the new Covid-19 strain, which was first recorded in the UK. Everyone believes in the vaccine and that the beginning of this year, will be associated with strong economic growth as soon as the quarantine measures are lifted, which will give the market a new bullish momentum and result in the pound renewing new annual highs. Additional stimulus from the Bank of England may somewhat smooth out the upward trend in the pound, but it may not be there, since the trade deal with the EU was concluded at the very last moment. Indicator signals: Moving averages Trading is carried out above 30 and 50 moving averages, which indicates that the pound will continue to rise. Note: The period and prices of moving averages are considered by the author on the H1 hourly chart and differs from the general definition of the classic daily moving averages on the daily D1 chart. Bollinger Bands A breakout of the upper border of the indicator around 1.3690 will lead to a new wave of growth for the pound. A breakout of the lower boundary at 1.3629 will increase pressure on the pair. Description of indicators - Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 50. It is marked in yellow on the chart.
- Moving average (moving average, determines the current trend by smoothing out volatility and noise). Period 30. It is marked in green on the chart.
- MACD indicator (Moving Average Convergence/Divergence — convergence/divergence of moving averages) Quick EMA period 12. Slow EMA period to 26. SMA period 9
- Bollinger Bands (Bollinger Bands). Period 20
- Non-commercial speculative traders, such as individual traders, hedge funds, and large institutions that use the futures market for speculative purposes and meet certain requirements.
- Long non-commercial positions represent the total long open position of non-commercial traders.
- Non-commercial short positions represent the total short open position of non-commercial traders.
- Total non-commercial net position is the difference between short and long positions of non-commercial traders.
Technical analysis EUR/USD for January 4, 2021 2021-01-04 
EUR/USD has continued to new highs at 1.2310 and is clearly in the final stages of the rally from March 2020, but as long as support at 1.2168 remains intact the uptrend is firmly in place and could continue higher towards the 1.2453 target. If, however support at 1.2168 is broken, then we must conclude that a top is in place and a larger correction should be expected in the weeks/months to come, but for now remain focused towards the upside for the final push higher towards 1.2453 to complete the uptrend since March 20 - 2020 and the be ready for a larger correction towards 1.1602. Remember the trend and patience are your friends Elliott wave analysis of GBP/JPY for January 4, 2021 2021-01-04 
GBP/JPY has jumped to new highs after the Brexit deal finally was agreed in late December. This has paved the way for GBP/JPY to continue to push higher towards the 142.72 target and a break above here confirms a continuation higher towards 147.96 as the next major upside target. Short-term key-support is seen at 139.45 which needs to be able to protect the downside or we will have to look at our alternate short-term counts for GBP/JPY, but for now we stick with our preferred count call for more upside towards 142.72. R3: 142.72 R2: 142.03 R1: 141.42 Pivot: 140.66 S1: 140.24 S2: 139.45 S3: 138.87 Trading recommendation: We bought GBP at 140.71 and we have placed our stop at 139.40 Indicator analysis. Daily review for the EUR/USD currency pair on January 4, 2021 2021-01-04 Trend analysis (Fig. 1). Today, the market from the level of 1.2216 (closing of last Thursday's daily candle), while moving up, can test the pullback level of 85.4% - 1.2274 (yellow dotted line). If this level is tested, the price may continue to move up, with an upper target of 1.2309 - the upper fractal (red dotted line). 
Figure 1 (Daily Chart). Comprehensive analysis: - Indicator analysis - up;
- Fibonacci levels - up;
- Volumes - up;
- Candlestick analysis - down;
- Trend analysis - up;
- Bollinger bands - up;
- Weekly chart - up.
Overall conclusion: Today, the price from the level of 1.2216 (closing of last Thursday's daily candle), while moving up, can test the pullback level of 85.4% - 1.2274 (yellow dotted line). If this level is tested, the price may continue to move up, with an upper target of 1.2309 - the upper fractal (red dotted line). Alternative scenario: the price from the level of 1.2216 (closing of last Thursday's daily candle), while moving down, can test the support level of 1.2177 (blue bold line) and then continue moving up, with the target of 1.2234 - the historical resistance level (blue dotted line). Technical Analysis of EUR/USD for January 4, 2021 2021-01-04 Technical Market Outlook: The EUR/USD pair has made new swing high at the level of 1.2309, but the Monday open was below the level of 1.2250 and the price pulled-back towards the trend line support. The Broadening Wedge price pattern is still in progress, so please notice that this particular pattern is a trend reversal pattern, which indicates a possible major correction on the EUR/USD soon. For now, the zone located between the levels of 1.2154 - 1.2177 remains the key demand zone for bulls. The positive momentum supports the short-term bullish outlook as long as the demand zone is not clearly violated. The next target for bulls is seen at the level of 1.2555, but this might be the last push up for EUR/USD before the correction. Any violation of the level of 1.2154 invalidates this scenario. Weekly Pivot Points: WR3 - 1.2419 WR2 - 1.2360 WR1 - 1.2290 Weekly Pivot - 1.2236 WS1 - 1.2163 WS2 - 1.2103 WS3 - 1.2035 Trading Recommendations: Since the middle of March 2020 the main trend is on EUR/USD pair has been up. This means any local corrections should be used to buy the dips until the key technical support seen at the level of 1.1609 is broken. The key long-term technical resistance is seen at the level of 1.2555. The market might be making the Broadening Wedge trend reversal pattern around the levels of 1.2200 - 1.2300. Any violation of the level of 1.2154 supports the trend change/corrective cycle scenario. 
Indicator analysis. Daily review for the GBP/USD currency pair on 04/01/2021 2021-01-04 Trend analysis (Figure 1). Today, from the level of 1.3658 (the closing of last Thursday's daily candle), the market can continue to move up with a target of 1.3943 which is a pullback level of 85.4% (yellow dotted line). After testing this line, continue to work up with the target of 1.4376 which is the upper fractal (yellow dotted line) and is the daily candle from 17/04/2018.  Figure 1 (daily chart). Comprehensive Analysis: - Indicator Analysis – up
- Fibonacci Levels – up
- Volumes – up
- Candle Analysis – up
- Trend Analysis – up
- Bollinger Bands – up
- Weekly Chart – up
General Conclusion: Today, the price can continue to move up with a target of 1.3801 which is the upper limit of the Bollinger Line indicator (black dotted line). After testing this line, continue to work up with the target of 1.3943 which is a pullback level of 85.4% (yellow dotted line). The final goal of the week is to work up with a target of 1.4376 which is the upper fractal (yellow dotted line) and the daily candle from 17/04/2018. Alternative Scenario: From the level of 1.3658 (the closing of last Thursday's daily candle), the upward movement may continue with the target of 1.3675 which is a pullback level of 76.4% (yellow dotted line). From this level, work downwards with a target of 1.3462 -21 average EMA (black thin line). Technical Analysis of GBP/USD for January 4, 2021 2021-01-04 Technical Market Outlook: The GBP/USD pair has made a new local high at the level of 1.3697, which is just two pips higher than 61% Fibonacci expansion of the last wave up. This level might now act as a target for bulls, so any pull-back towards the level of 1.3624 (intraday support) will be considered bearish. The momentum remains strong and positive despite the overbought market conditions, so another push higher towards the level of 1.3708 or 1.3779. Weekly Pivot Points: WR3 - 1.4033 WR2 - 1.3841 WR1 - 1.3765 Weekly Pivot - 1.3599 WS1 - 1.3521 WS2 - 1.3349 WS3 - 1.3262 Trading Recommendations: The GBP/USD pair might have started a long term up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. All the local corrections should be used to open a buy orders as long as the level of 1.2674 is not broken. The long-term target for bulls is seen at the level of 1.4370. 
Trading plan for the EUR/USD pair on January 4. COVID-19 retreated a bit, and vaccinations are active around the world. Meanwhile, the euro is trying to rise. 2021-01-04 
The latest records suggest that COVID-19 has retreated a bit, having listed only 510,000 cases over the weekend, much lesser than the figures seen in the previous days. In the United States, new infections reached 200,000, while in Europe, everything has progressed for the better, especially after the introduction of strict quarantine measures. Britain, however, is an exception, since the country recorded 55,000 new cases over the weekend. Nevertheless, vaccination is active around the world, and at the moment, Israel is in the lead, with 15% of its population having been vaccinated already. As for the US, the pace of vaccination is normal, while in Europe, the campaign has just begun. 
EUR/USD - the euro is trading in an upward trend. Open long positions from 1.2190. Open short positions from 1.2180. There are a lot of news from the US this week. For instance, data on US employment and indices from the ISM. The ISM industrial index will be published tomorrow, January 5. Simplified wave analysis and forecast for EUR/USD, AUD/USD, and GBP/JPY on January 4 2021-01-04 EUR/USD Analysis: For most of last year, the euro moved up. The unfinished section of the trend has been reporting since November 4. The price has reached the potential reversal zone, along which a correction is being formed. From December 21, a new wave began to develop on the main course. Forecast: Today, the general lateral vector of the pair's movement is expected. In the European session, a decline is possible up to the estimated support. The beginning of price growth can be expected at the end of the day or tomorrow. Potential reversal zones Resistance: - 1.2270/1.2300 Support: - 1.2200/1.2170 Recommendations: Trading on the euro market today is possible only within the intraday reduced lot. Purchases of the tool remain a priority. 
AUD/USD Analysis: Since March last year, the Australian dollar market has been dominated by bullish momentum. The last section counts from November. On December 21, the hidden correction ended, after which a new section of the main wave develops upwards. The price has reached a large-scale resistance zone. Forecast: On the next day, the pair's market should expect a generally downward movement, no further than the calculated support. Alternatively, a sideways drift along the resistance zone is possible. Activation and continuation of the trend are likely not earlier than tomorrow. Potential reversal zones Resistance: - 0.7710/0.7740 Support: - 0.7640/0.7610 Recommendations: Today, there are no conditions for entering the pair's market. It is recommended to refrain from trading during the decline and look for buy signals at its end. 
GBP/JPY Analysis: The pair's market was dominated by an upward trend for most of last year. Its last section started in mid-September. The two-month horizontal flat formed a correction. From December 21, the trend of the price forms the beginning of a new wave of small scale. Forecast: Today, we can expect the formation of a downward vector in the price corridor between the nearest zones. The decline is expected no further than the estimated support. You can expect a return to the upward rate in the coming days. Potential reversal zones Resistance: - 141.10/141.40 Support: - 140.10/139.80 Recommendations: Today, it is possible to sell with a reduced lot. It is worth considering the limited potential for decline. It is safer to refrain from trading during the correction and look for entry points to long positions at the end of it. 
Explanation: In the simplified wave analysis (UVA), waves consist of 3 parts (A-B-C). The last incomplete wave is analyzed. The solid background of the arrows shows the formed structure, and the dotted one shows the expected movements. Attention: The wave algorithm does not take into account the duration of the instrument's movements in time! Technical analysis for EUR/USD pair for the week of January 4-9, 2021 2021-01-04 Trend analysis The price from the level of 1.2216 (closing of the previous weekly candle) may continue to increase this week to the upper fractal of 1.2309 (red dotted line) – the weekly candle from 12/27/2020. Upon reaching this level, the upward movement can possibly continue to the next target at 1.2462 – the historical resistance level (blue dotted line). 
Figure 1 (weekly chart) Comprehensive analysis: - Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
- Monthly chart - up
An upward movement can be concluded based on comprehensive analysis. The overall result of the candlestick calculation based on the weekly chart: the price is likely to have an upward trend this week, without a lower shadow in the weekly white candlestick (Monday - up) and with an upper shadow (Friday - down). The first upper target is 1.2309 (red dotted line) – upper fractal (weekly candle from 12/27/2020). Upon reaching this level, the upward movement can possibly continue to the next target at 1.2462 – the historical resistance level (blue dotted line). An alternative scenario: the price can rise from the level of 1.2216 (closing of the last weekly candlestick) to the target of 1.2309 (red dotted line) – upper fractal (weekly candle from 12/27/2020). After reaching this level, it is possible to decline to the target of 1.2064 – the pullback level of 14.6% (red dotted line). Technical analysis for GBP/USD pair for the week of January 4-9, 2021 2021-01-04 Trend analysis This week, the price from the level of 1.3658 (closing of the last weekly candle) is expected to move up to the target of 1.3941 - the pullback level of 85.4% (blue dotted line). If this line is tested, the upward movement can continue to the target of 1.4284 – the historical resistance level (blue dotted line). 
Figure 1 (weekly chart) Comprehensive analysis: - Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger lines - up
- Monthly chart - up
An upward movement can be concluded based on comprehensive analysis. The overall result of the candlestick calculation based on the weekly chart: the price is likely to have an upward trend this week, without the first lower shadow of the weekly white candlestick (Monday - up) and without the second upper shadow (Friday - high). The first upper target is 1.3941 – the pullback level of 85.4% (blue dotted line). After testing this line, the upward movement will continue to the next target of 1.4284 – the historical resistance level (blue dotted line). An alternative scenario: the price from the level of 1.3658 (closing of the last weekly candle) can decline to the target of 1.3511 – historical support level (blue dotted line). In case of testing this line, the downward movement will continue to the target of 1.3352 – the pullback level of 14.6% (red dotted line). From this level, it is possible to move upwards. GBP/USD. January 4. COT report. The UK is a fully independent country 2021-01-04 GBP/USD – 1H. 
According to the hourly chart, the quotes of the GBP/USD pair on December 31-January 4 performed an increase to the corrective level of 261.8% (1.3698). The rebound of quotes from this level will allow traders to count on a reversal in favor of the US currency and some fall in the direction of the upward trend line. Fixing quotes under the trend line will change the mood of traders to "bearish" and increase the chances of continuing to fall in the direction of the corrective level of 200.0% (1.3499). As we can see, the new year began with another growth of the British currency. Trade negotiations and Brexit are in the past, now the UK is a fully independent country and will build its international relations exclusively as Boris Johnson decides. Throughout 2021, London will probably try to conclude several more trade agreements. The most important agreement is the agreement with America. Potentially, it can be approximately the same in volume as with the European Union. However, for the British pound, the state of the economy will be more important in the coming months. Many economists believe that despite the trade deal with the EU, the British economy will still shrink. That is, the fourth quarter of 2020 may be negative in terms of GDP growth. Do not forget that, in addition to economic problems, the problem of coronavirus also continues to be acute in the UK. Strict quarantine was in November and it continues in December because of a new strain of COVID. Thus, GDP may contract again in the fourth and first quarters. How will the pound react to this? GBP/USD – 4H. 
On the 4-hour chart, the GBP/USD pair performed an increase to the corrective level of 127.2% (1.3701). The rebound of quotes from this Fibo level will work in favor of the US currency and the beginning of the fall in the direction of the corrective level of 100.0% (1.3481). Fixing the pair's rate above the level of 127.2% will increase the probability of further growth in the direction of the next corrective level of 161.8% (1.3977). GBP/USD – Daily. 
On the daily chart, the pair's quotes performed a consolidation above the corrective level of 100.0% (1.3513). Thus, the growth process can be continued in the direction of the next Fibo level of 127.2% (1.4084). GBP/USD – Weekly. 
On the weekly chart, the pound/dollar pair closed above the second downward trend line. Thus, the chances of long-term growth of the pound are significantly increased. Overview of fundamentals: There were no economic reports or other developments in the UK and the US on Thursday. The information background was completely absent. The economic calendar for the US and the UK: UK - PMI index for the manufacturing sector (09:30 GMT). US - index of business activity in the manufacturing sector (14:45 GMT). On January 4, the calendar of economic events in the UK and the US are almost empty. Only the most important business activity reports will be released. COT (Commitments of Traders) report: 
The latest COT report showed that speculators were getting rid of both long and short contracts. The new COT report, which was released last night, showed small changes in the mood of major traders. The "Non-commercial" category of traders opened the reporting week until December 21 - 2,000 new long contracts and 500 short contracts. Such figures do not allow us to draw any serious conclusions about the future of the British pound. It can be noted that speculators again increased purchases of the British, however, this was already 8 days ago. The total number of long contracts focused on the hands of speculators is only 8,000 more than short contracts. For example, the difference in the euro currency is 3 times. Thus, I still can not conclude that the mood for the British is exclusively "bullish" and that the pound will continue to grow. GBP/USD forecast and recommendations for traders: It was recommended to open new purchases of the British dollar in case of consolidation above the level of 1.3618 on the hourly chart with targets of 1.3698 and 1.3800. Now it is recommended to open them if a close above 1.3698 is performed. I recommend selling the pound sterling at a rebound from the corrective level of 127.2% on the 4-hour chart with a target of 1.3618 or with a target of 1.3499 when closing under the trend line on the hourly chart. Terms: "Non-commercial" - major market players: banks, hedge funds, investment funds, private, large investors. "Commercial" - commercial enterprises, firms, banks, corporations, companies that buy currency, not for speculative profit, but to ensure current activities or export-import operations. "Non-reportable positions" - small traders who do not have a significant impact on the price. EUR/USD. January 4. COT report. December 31 gave the dollar a chance to grow, but on January 1, bull traders got down to business again 2021-01-04 EUR/USD – 1H. 
On December 31, the EUR/USD pair performed a fall and consolidation under the upward trend line. Thus, the mood of traders changed to "bearish". However, on Monday morning, the pair's quotes performed a reversal in favor of the euro and began a new growth process in the direction of the level of 1.2272. A rebound from this level will again work in favor of the US currency and the resumption of the fall in the direction of the corrective level of 261.8% (1.2201). The holidays are over, and it's time to return to the usual channel of trade. There was no important news during the holidays. In the European Union – peace. In America, several reports related to the laws adopted at the level of Congress and the Senate. For example, on January 1, senators, following congressmen, overcame Donald Trump's veto on the defense budget. However, traders are unlikely to react to any bill that is passed in the US. The main thing is different. The European currency continues to grow, and the US dollar to fall. This was observed in the last days of 2020, and the same is observed in the first days of 2021. Thus, despite the closing of the pair's quotes under the trend line, the growth can be resumed. As you can see, bull traders continue to trade actively. EUR/USD – 4H. 
On the 4-hour chart, the pair's quotes performed a reversal in favor of the US dollar and a slight drop, but overall growth remains. The upward trend line continues to characterize the mood of traders as "bullish". Thus, the growth process can be continued in the direction of the corrective level of 200.0% (1.2353). Fixing the pair's rate under the trend line will work in favor of the US currency and some fall in the direction of the Fibo level of 161.8% (1.2027). EUR/USD – Daily. 
On the daily chart, the quotes of the EUR/USD pair continue the process of growth in the direction of the corrective level of 423.6% (1.2495). Until the moment when the pair performs consolidation under the level of 323.6%, there are still high chances of growth. EUR/USD – Weekly. 
On the weekly chart, the EUR/USD pair performed a consolidation above the "narrowing triangle", which preserves the prospects for further growth of the pair in the long term. Overview of fundamentals: On December 31, there was no single important news or report in the United States and the European Union. There was no information background. In the US Congress and Senate, interesting events were happening, where deputies adopted several important documents and budgets. News calendar for the United States and the European Union: EU - index of business activity in the manufacturing sector (09:00 GMT). US - index of business activity in the manufacturing sector (14:45 GMT). On January 4, business activity reports will be released in America and the European Union, which are unlikely to arouse strong interest among traders. COT (Commitments of Traders) report: 
The latest COT report from December 15 showed a sharp increase in the number of open short contracts by the "Non-commercial" category of traders, which is considered the most important. Before that, speculators had been building up long contracts for four weeks. And now the new COT report, which was released only today, again shows the build-up of long contracts by speculators. This means that they are once again beginning to believe in the European currency, which has only been growing in recent months. The total number of long contracts focused on the hands of major players is 224 thousand, which is three times more than the number of short contracts. Since speculators do not currently reduce the number of long contracts and do not increase the number of short ones, I conclude that the euro may grow further. However, let me remind you that each COT report is released three days late, and also describes changes that have already occurred. EUR/ USD forecast and recommendations for traders: On Monday, I recommend selling the euro in case of a rebound from the level of 323.6% - 1.2308 (or 1.2272) on the hourly chart with a target of 1.2201. New purchases of the pair can be opened with targets of 1.2308 and 1.2353 when the quotes are fixed above the level of 1.2272 on the hourly chart. Terms: "Non-commercial" - major market players: banks, hedge funds, investment funds, private, large investors. "Commercial" - commercial enterprises, firms, banks, corporations, companies that buy currency, not for speculative profit, but to ensure current activities or export-import operations. "Non-reportable positions" - small traders who do not have a significant impact on the price. Forex forecast 01/04/2021 on EUR/USD, EUR/GBP, AUD/USD and Bitcoin from Sebastian Seliga 2021-01-04 Let's take a look at the technical picture of EUR/USD, EUR/GBP, AUD/USD and Bitcoin at the first trading day of 2021.
Author's today's articles: Maxim Magdalinin  In 2005 graduated from the Academy of the Ministry of Internal Affairs of the Republic of Belarus, law faculty. Worked as a lawyer for three years in one of the biggest country's company. Besides the trading, he develops trading systems, writes articles and analytical reviews. Works at stock and commodity markets explorations. On Forex since 2006. Torben Melsted  Born in November 1962. Graduated from CBS, got Diploma in Finance. Began trading on Forex in 1986 and since that time held various positions such as advising clients, hedging client flows on FX and commodity markets. Also worked for major corporations as Financial Risk Manager. Uses Elliott wave analysis in combination with classic technical analysis, and has been using a Calmar Ratio of 5.0 for over 3 years. Has his own blog, where he uses Elliott wave and technical analysis on all financial markets. Sergey Belyaev  Born December 1, 1955. In 1993 graduated from Air Force Engineering Academy. In September 1999 started to study Forex markets. Since 2002 has been reading lectures on the technical analysis . Is fond of research work. Created a personal trading system based on the indicator analysis. Authored the book on technical analysis "Calculation of the next candlestick". At present the next book is being prepared for publishing "Indicator Analysis of Forex Market. Trading System Encyclopedia". Has created eleven courses on indicator analysis. Uses classical indicators. Works as a public lecturer. Held numerous seminars and workshops presented at international exhibitions of financial markets industry. Is known as one of the best specialists in the Russian Federation researching indicator analysis. Sebastian Seliga  Sebastian Seliga was born on 13th Oсtober 1978 in Poland. He graduated in 2005 with MA in Social Psychology. He has worked for leading financial companies in Poland where he actively traded on NYSE, AMEX and NASDAQ exchanges. Sebastian started Forex trading in 2009 and mastered Elliott Wave Principle approach to the markets by developing and implementing his own trading strategies of Forex analysis. Since 2012, he has been writing analitical reviews based on EWP for blogs and for Forex websites and forums. He has developed several on-line projects devoted to Forex trading and investments. He is interested in slow cooking, stand-up comedy, guitar playing, reading and swimming. "Every battle is won before it is ever fought", Sun Tzu Mihail Makarov  - Vyacheslav Ognev  Vyacheslav was born on August 24, 1971. In 1993, he graduated from Urals State University of Economics in the Russian city of Ekaterinburg holding a degree in Commerce and Economics of Trade. In 2007, he started concentrating on the Russian stock market, trading stocks on the RTS Stock Exchange and futures contracts on FORTS. Since 2008 he has been engaged in analyzing Forex market and trading currencies. He is an author of a simplified wave analysis method. He has also developed a trading strategy. At present, Vyacheslav is a co-author of training materials on two web portals dedicated to Forex trading education. Interests: fitness, F1 "Experience is the best of schoolmasters, only the school fees are heavy." - Thomas Carlyle Grigory Sokolov  Born 1 January, 1986. In 2008 graduated from Kiev Institute of Business and Technology with "Finance and Credit" as a major. Since 2008 has studied the behavior of various currency pairs and their correlation on Forex. In his works and trading practice he uses candlestick analysis and Fibonacci technique. Since 2009 has written analytical reviews and articles which are published on popular Internet resources. Interests: music, computers and cookery. "Out of five deadly sins of business and as a rule, the most widespread, excessive striving to get profit is the worst". P. Drucker
Subscription's options management Theme's:
Fundamental analysis, Fractal analysis, Wave analysis, Technical analysis, Stock Markets
Author's :
A Zotova, Aleksey Almazov, Alexander Dneprovskiy, Alexandr Davidov, Alexandros Yfantis, Andrey Shevchenko, Arief Makmur, Dean Leo, Evgeny Klimov, Fedor Pavlov, Grigory Sokolov, I Belozerov, Igor Kovalyov, Irina Manzenko, Ivan Aleksandrov, l Kolesnikova, Maxim Magdalinin, Mihail Makarov, Mohamed Samy, Mourad El Keddani, Oleg Khmelevskiy, Oscar Ton, Pavel Vlasov, Petar Jacimovic, R Agafonov, S Doronina, Sebastian Seliga, Sergey Belyaev, Sergey Mityukov, Stanislav Polyanskiy, T Strelkova, Torben Melsted, V Isakov, Viktor Vasilevsky, Vladislav Tukhmenev, Vyacheslav Ognev, Yuriy Zaycev, Zhizhko Nadezhda
Edit data of subscription settings
Unsubscribe from the mailing list Sincerely,
Analysts Service | If you have any questions, you can make a phone call using one of the
InstaForex Toll free numbers right now:
|  | InstaForex Group is an international brand providing online trading services to the clients all over the world. InstaForex Group members include regulated companies in Europe, Russia and British Virgin Islands. This letter may contain personal information for access to your InstaForex trading account, so for the purpose of safety it is recommended to delete this data from the history. If you have received this letter by mistake, please contact InstaForex Customer Relations Department. |
No comments:
Post a Comment