| Trading plan for EUR/USD on January 12. Another decline in COVID-19 incidence. The euro may resume growing soon. 2021-01-12 
Latest data suggests that COVID-19 is starting to retreat. Yesterday, global incidence has decreased again, especially in the US, UK and Europe. At the same time, vaccination is active around the world. Its effects will be seen around February. 
EUR/USD - growth is still possible in the euro. Open long positions from the lows or from 1.2200. EUR/USD. Trump's impeachment, Treasury yields' growth and the Taiwan factor 2021-01-12 The US dollar index continues to hold above the 90-point mark, reflecting increased demand for the dollar across the market. The US currency is growing due to a combination of several fundamental factors – political instability in the US, Treasury yields' growth, downturn in the stock market, Taiwan factor and the expectation of additional fiscal stimulus. These are the main reasons for investors' growing interest in the US dollar. However, the main question is whether this interest in the US currency will continue after January 20, when Joe Biden will become the head of the White House. At the moment, the dollar's impulse growth has slightly faded: the market played back yesterday's events in Congress and took a break in anticipation of new information drivers. In general, the events are happening quite predictably. It should be recalled that Democratic representatives want to remove Donald Trump from office (despite the fact that his term ends in a week) using one of two levers of influence: either through the 25th Amendment to the US Constitution or through impeachment. The first option has already been rejected by the country's Vice President Mike Pence, which is quite expected. In this case, the second option remains – impeachment. Yesterday, the Democrats presented a resolution to Congress, in which the head of state is accused of "inciting an uprising." The released document states that President Mr. Trump has put the security of the United States and government institutions at serious risk. 
The resolution to impeach Trump was previously supported by 218 House Democrats. This is already enough to approve the document during a vote in the Lower House of Congress, which will be held on Wednesday. However, the question of the president's guilt and removal from office is decided by members of the Upper House of Congress – Senators. In the Senate, hearings are held on the charges, after which the corresponding verdict is concluded: guilty/not guilty. For example, the Senate (with Republican majority), acquitted Trump by voting against impeachment last year. Now, the balance of power in the Upper House has changed, after the Democrats won the by-election in Georgia. Unfortunately, these congressmen lack time to consider this issue: the Senate will not hold meetings until January 19. In addition, two-thirds of the votes in favor is necessary to make a guilty verdict. The Democrats in the Upper House have 50 votes out of the required 67. So, most experts doubt that 17 Republican senators will support the impeachment of their party member. In other words, the press is actively inflating an "information bubble" that supports the rising anti-risk sentiment on the markets. Moreover, there were reports in the American press yesterday that far-right activists are planning armed actions in all American states and Washington. This was reported by the media companies ABC and Yahoo News, whose journalists got acquainted with the relevant report of the FBI. The official reaction of the department to the media publications has not yet been followed, but Trump already announced a state of emergency in Washington today to ensure the safety of the inauguration of Joe Biden. These fundamental factors only worsened the situation, maintaining interest in the safe dollar. On another note, the Taiwan factor contributed to the continuing anti-risk sentiments. The United States recently decided to remove all restrictions on contacts between American and Taiwanese officials, which had been in effect for decades. In turn, Beijing considers Taiwan to be its province, which can be forcibly unified by mainland China if necessary. Therefore, such a step by the US State Department can be regarded by the PRC as interference in the internal affairs of the state. Another round of political confrontation between the two countries also allows dollar bulls to remain above. Another factor that supports the US currency is the rising Treasury yields. In particular, the yield on 10-year Treasury bonds exceeded 1.10%, amid expectations of additional fiscal stimulus. This is a kind of signal that indicates the growing confidence in this year's US economic recovery. In view of this, it should be noted that the market is increasingly likely to hear doubts that the Fed will keep the interest rate at the current record low level until the end of 2023. And although there are no obvious prerequisites for "hawkish intentions", many expats voiced the above idea. In addition, Fed Vice Chairman Richard Clarida said late last week that the US economy has a shaky year ahead, as the economy will feel the impact of coronavirus vaccination and a potential growth in government spending. 
Thus, the current fundamental outlook allows the US currency to dominate in all major dollar pairs. If we talk about the EUR/USD pair, the downward impulse has currently faded, although the bears continue to control the situation. Here's an important point: the sellers of the pair could not even approach the support level of 1.2100 (lower line of the Bollinger Bands indicator on the daily chart), despite the three-day price decline. Therefore, it is necessary to make trading decisions on this pair by keeping this in mind. If the pair breaks through this target, a trend reversal can be expected. In this case, the main downward target will be 1.1950 (Bollinger Bands middle line on the weekly chart). It is quite risky to open short positions before breaking through the support level of 1.2100 due to the possibility of reaching the bottom of the market. EUR/USD: plan for the European session on January 12. COT reports (analysis of yesterday's deals). Bears aim to surpass 1.2130, but are there any strength left 2021-01-12 To open long positions on EUR/USD, you need: In yesterday's afternoon forecast, I drew attention to the 1.2174 level and recommended opening short positions from it. Let's take a look at the 5-minute chart and figure out what happened. The bears went beyond 1.2174, and the bulls made several unsuccessful attempts to regain this range, afterwards a signal to sell the euro was created, which pulled down the pair to the support area of 1.2130. For the sake of fairness, take note that if you missed the sale from 1.2174, then you did the right thing, since a couple of points were literally not enough before the real update of this level and its test from the bottom up. I also recommended opening long positions from the support of 1.2130, which brought about 30 points of upward correction to the middle of the US session. 
This morning, buyers of the euro still need to think of a way to regain the 1.2174 level as soon as possible. There is a high likelihood that the euro could fall further as long as trading remains below this range. The absence of important fundamental reports in the first half of the day can play into the hands of sellers, therefore, being able to surpass and test the 1.2174 level from top to bottom will lead to a signal to open new long positions, in hopes for EUR/USD to rise to the resistance area of 1.2224, which is where the moving averages are located, on the side of sellers. Buyers will still aim for a high of 1.2281, where I recommend taking profits, however, you need a fairly good reason for such a large growth. If the bears continue to pull down the euro, I recommend not to rush into buying, but to wait until support at 1.2130 has been updated and form a false breakout there. It is best to open long positions immediately on a rebound from the low of 1.2083, counting on an upward correction of 20-30 points within the day. To open short positions on EUR/USD, you need: Euro sellers need to defend resistance at 1.2174. Being able to confidently test this area from the bottom up, similar to yesterday's sale, which I analyzed above, will result in forming a signal to open short positions in euros. It is important to understand that immediately when the 1.2174 level has been tested, the goal is for the pair to actively fall in order for it to reach support at 1.2130, where buyers will try to return to the market. An equally important task, amid the lack of fundamental reports on the eurozone countries in the morning, is to be able to go beyond and settle below 1.2130. Testing this level from the bottom up will open a direct road to the lows of 1.2083 and 1.2042, where I recommend taking profits. If sellers are not active after resistance at 1.2174 has been tested, it is best to refuse to sell at this level, since buyers might attempt to regain control of the market. In this case, you can take a closer look at short positions only after updating the resistance of 1.2224, or sell EUR/USD immediately on a rebound from the high of 1.2281, counting on a downward correction of 20-30 points within the day. 
The Commitment of Traders (COT) report for January 5 recorded an increase in both long and short positions. Buyers of risky assets continue to believe in a bullish trend despite the euro's decline earlier this year, which will make it possible for new major players to enter the market. News on the ongoing vaccinations against the first strain of coronavirus in Europe will also support euro buyers. Pressure on the euro will come from isolation measures and quarantines in several European countries. Thus, long non-commercial positions rose from 222,443 to 224,832, while short non-commercial positions jumped from 78,541 to 81,841. Due to the larger increase in short positions, the total non-commercial net position decreased from 143,902 to 142,991 weeks earlier. The insignificant change in the delta at the beginning of the year is unlikely to indicate a change in the tactics of euro buyers, who count on bringing back the single currency's growth after the abolition of quarantine measures in the EU countries. Indicator signals: Moving averages Trading is carried out below 30 and 50 moving averages, which indicates that the euro would decline further. 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 D1 daily chart. Bollinger Bands A breakout of the lower border of the indicator around 1.2130 will increase pressure on the euro. A breakout of the upper border of the indicator in the 1.2174 area will lead to a new upward wave in 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.
- 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 12. COT reports (analysis of yesterday's deals). Pound continued a downward correction. Fight for 1.3531 will be a defining moment 2021-01-12 To open long positions on GBP/USD, you need: In yesterday's afternoon forecast, I drew attention to the 1.3503 level and recommended to act based on it. Let's take a look at the 5-minute chart and talk about where you can and should enter the market. I said that before selling, you need to wait for a false breakout, which happened. We see that following the bulls' unsuccessful attempt to regain control over resistance at 1.3503, the trade had once again moved under this range. Then, several unsuccessful attempts at growth were also made, which created a downward wave for the pound. The fall was around 40 points, but we did not get to the key target. 
At the moment, I have revised the nearest support and resistance levels again and a rather interesting picture has turned out. Although the news on the lockdown will continue to weigh on the pound, and it is possible that we will see a continuation of the downward correction, buyers of the pound still have an excellent chance to take control of the market. The initial goal is to settle above resistance at 1.3531, testing it from top to bottom creates a good signal to open long positions in hopes to reach the middle of the sideways channel at 1.3594, where I recommend taking profits. Surpassing 1.3531 might be abrupt, as the moving averages also pass at this level, this limits the pound's growth in the short term. We can finally speak about restoring the bullish trend only when we have updated the 1.3661 high, which buyers will strive for in the middle of this week. If GBP/USD is under pressure this morning, then the bulls will have to think of a way to protect support at 1.3452. Forming a false breakout there creates the first signal to open long positions. In the absence of activity at this level, it is best not to rush into longs, but wait for an update of the larger support area of 1.3372 and buy the pound there immediately on the rebound, counting on an upward correction of 30-40 points within the day. To open short positions on GBP/USD, you need: The pound could be under pressure at any moment, since we don't expect anything positive from a new lockdown. The bears will try to prevent GBP/USD from rising above the 1.3531 resistance. However, forming a false breakout there in the first half of the day will be a signal to open short positions, in hopes for a downward correction to the area of a low of 1.3452, which suddenly appeared yesterday. An equally important task is to go beyond and settle below this range, testing it from the bottom up (similar to yesterday's sales, which I analyzed above), creates a convenient entry point into short positions, which will quickly pull down GBP/USD to a low of 1.3372, where I recommend taking profit. It is too early to talk about reaching 1.3308 and 1.3193 in the near future, but it will be possible if the situation with the coronavirus worsens and the lockdown in the UK extends. If bears ignore resistance at 1.3531, and since we do not expect any important fundamental reports from the UK today, then it is best to postpone short positions until new highs in the 1.3594 and 1.3661 areas have been updated, counting on a downward correction of 30-40 points within the day. 
The Commitment of Traders (COT) report for January 5 recorded a slight decline in interest in the British pound, but this does not affect the overall picture. Long non-commercial positions decreased from 37,550 to 35,526. At the same time, short non-commercial positions remained practically unchanged and only increased from 31,518 to 31,861. As a result, the non-commercial net position, although it decreased, remained positive and reached 3,665 against 6,032 a week earlier. All this suggests that traders continue to bet on the strengthening of the pound, even in the face of the new Covid-19 strain, for which there is no vaccine yet. The demand for the pound is limited by quarantine measures in the UK, which will sooner or later be canceled after the infection stabilizes. Additional stimulus from the Bank of England, which economists will soon talk about, may also somewhat smooth out the upward trend in the pound. Indicator signals: Moving averages Trading is carried out in the area of 30 and 50 moving averages, which indicates an attempt by buyers to regain control of the market. 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 D1 daily chart. Bollinger Bands A breakout of the upper border of the indicator around 1.3550 will lead to a new wave of growth for the pound. In case the pair falls, support will be provided by the lower border of the indicator at 1.3455. 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 of GBP/USD for January 12, 2021 2021-01-12 Technical Market Outlook: The GBP/USD pair is back trading inside of the descending channel after the bounce from the lower channel line around the level of 1.3449. The next target for bears is seen at the level of 1.3634 and if the price will hit this level, then it will trade out of the channel. The momentum is positive and the market is bouncing from the oversold conditions, so traders should expect the bounce to continue. The weekly time frame trend remains up. Weekly Pivot Points: WR3 - 1.3811 WR2 - 1.3757 WR1 - 1.3642 Weekly Pivot - 1.3588 WS1 - 1.3474 WS2 - 1.3415 WS3 - 1.3307 Trading Recommendations: The GBP/USD pair keeps developing the up trend and the trigger for this trend was the breakout above the level or 1.3518 on the weekly time frame chart. The recent top was made at the level of 1.3702. 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. 
Technical Analysis of EUR/USD for January 12, 2021 2021-01-12 Technical Market Outlook: The EUR/USD pair has fallen out of the Rising Wedge pattern and hit the level of 1.2132, where the long term trend line support line is located. Another wave to the downside might break below the level of 1.2154, so then the road towards the level of 1.2088 is open. The nearest technical resistance is seen at the level of 1.2177, 1.2215 and 1.2250. Weak and negative momentum supports the short-term bearish outlook for this pair. Moreover, there is a Shooting Star candlestick pattern on the Weekly time frame chart, so the market might be starting the corrective cycle inside of the up trend. Weekly Pivot Points: WR3 - 1.2446 WR2 - 1.2395 WR1 - 1.2293 Weekly Pivot - 1.2204 WS1 - 1.2134 WS2 - 1.2082 WS3 - 1.1981 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 made the Falling Wedge trend reversal pattern around the levels of 1.2200 - 1.2300 and now the corrective cycle might have started. Any violation of the level of 1.2154 supports the trend change/corrective cycle scenario. 
Indicator analysis. Daily review for the EUR/USD currency pair on January 12, 2021 2021-01-12 Trend analysis (Fig. 1). On Tuesday, the market from the level of 1.2150 (closing of yesterday's daily candle) in the morning will try to make an upward movement with the target of 1.2177 - the resistance level (blue bold line). After testing this level, the price can continue to work up, with the target of 1.2234 - the historical resistance level (blue dotted line). 
Figure 1 (Daily Chart). Comprehensive analysis: - Indicator analysis - up
- Fibonacci levels - up
- Volumes - up
- Candlestick analysis - up
- Trend analysis - up
- Bollinger bands - up
- Weekly chart - up
General conclusion: Today, the price from the level of 1.2150 (closing of yesterday's daily candle) in the morning will try to make an upward movement with the target of 1.2177 - the resistance level (blue bold line). After testing this level, the price can continue to work up, with the target of 1.2234 - the historical resistance level (blue dotted line). Unlikely scenario: the price from the level of 1.2150 (yesterday's closing daily candle) will try to make a downward movement with the target of 1.2063 - the price from the level of 1.2150 (yesterday's closing daily candle) will try to make a downward movement with the target of 1.2073 - historical support level (blue dotted line). GBP/USD. January 12. COT report. Britain is losing its investment appeal. 2021-01-12 GBP/USD – 1H. 
According to the hourly chart, the GBP/USD pair quotes fell to the corrective level of 61.8% (1.3458) on January 11. The pair's rebound from this level worked in favor of the British currency and the beginning of a new growth process in the direction of the downward trend line, which characterizes the current mood of traders as "bearish". Thus, the rebound of the pair from this line will allow traders to count on a reversal in favor of the US currency and the resumption of the fall in the direction of the level of 61.8%. According to the latest research conducted by the ZEW Institute, the UK has lost first place in the ranking of attractiveness for doing business. Its place was taken by the United States. The reason for this is called Brexit. But still, Britain continues to hold second place in the rating, that is, it is more attractive compared to other countries. Thus, a drop in the ranking can't be considered bad news. But the situation with COVID-2019 continues to worsen. The chief medical officer of England, Chris Witty, believes that in the coming weeks the situation will only get worse, and the health system is already loaded as much as possible. According to Vitti, there are now about 30,000 coronavirus patients in hospitals, almost twice as many as during the first wave of the pandemic. On January 9, a thousand deaths per day were recorded in the UK for the first time since the outbreak of the epidemic. The average daily number of new cases is now 60-70 thousand. GBP/USD – 4H. 
On the 4-hour chart, the GBP/USD pair fell to the corrective level of 100.0% (1.3481) and rebounded from it. Thus, there was a reversal in favor of the British, and new growth began in the direction of the corrective level of 127.2% (1.3701). However, the consolidation of quotes under the level of 100.0% (1.3481) will again work in favor of the US currency and the resumption of the fall in the direction of the corrective level of 76.4% (1.3291). 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 resumed at any time in the direction of the Fibo level of 127.2% (1.4084). Only the closing of the pair below the level of 100.0% will work in favor of a further fall in quotes. 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 important economic reports in the UK and the US on Monday. There was no economic background. The economic calendar for the US and the UK: On January 12, the calendars of the UK and the USA are empty, so the background information will also be absent. COT (Commitments of Traders) report: 
The latest COT report from January 5 showed the same minimal activity of major players as in the case of the euro currency. During the New Year's week, the "Non-commercial" category of traders opened 1,028 long contracts and 1,111 short contracts. That is, almost an equal number. Thus, I cannot conclude that during the reporting week, the mood of speculators became more "bullish" or more "bearish". Judging by the total number of open contracts in this category, the mood remains more "bullish". However, on December 1, the situation was exactly the opposite, and the pound sterling was growing even then. In general, there are no strong changes in the mood of major players. GBP/USD forecast and recommendations for traders: It was recommended to buy the British dollar when the pair rebounds from the level of 100.0% (1.3481) on the 4-hour chart with the aim of the trend line on the hourly chart. Thus, now these positions can be held. It is recommended to sell the pound sterling when quotes bounce off the trend line on the hourly chart with targets of 1.3522 and 1.3458. 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. Indicator analysis. Daily review of GBP/USD for January 12, 2021 2021-01-12 Trend analysis (fig. 1) On Tuesday, the price will try to rise from 1.3509, the closing level of yesterday's daily candlestick, to the target at 1.3676, the 76.4% retracement level (the yellow dotted line). If the price reaches the level, the next target will be at 1.3702, the upper fractal (the red dotted line). 
Daily chart (fig. 1). Comprehensive analysis: - indicator analysis - uptrend - Fibonacci levels - uptrend - volumes - uptrend - candlestick analysis - uptrend - trend analysis - uptrend - Bollinger bands- uptrend - weekly chart - uptrend General conclusion: Today, the price will try to rise from 1.3509, the closing level of yesterday's daily candlestick, to the target at 1.3676, the 76.4% retracement level (the yellow dotted line). If the price reaches the level, the next target will be at 1.3702, the upper fractal (the red dotted line). Unlikely scenario: If the price moves in the uptrend and reaches the level of 1.3634, the upper fractal (the daily candlestick from January 8,2021), the pair will try to extend the downward movement to the target at 1.3450, the lower fractal (the daily candlestick from January 11, 2021). In case the price reaches this level, the next downward target will be seen at 1.3367, the 14.6% retracement level (the red dotted line). Analytics and trading signals for beginners. How to trade EUR/USD on January 12? Plan for opening and closing deals on Tuesday 2021-01-12 Hourly chart of the EUR/USD pair 
The EUR/USD pair resumed its downward movement after a slight correction last night. This round of upward correction was clearly not enough for the MACD indicator to have time to discharge to the zero level. Moreover, the pair's quotes have been falling for about ten hours, and the MACD indicator has been pointing up all this time. There is a discrepancy between the directions of price movement as well as the indicator (also called a divergence). However, this does not make it easier for novice traders. Although the trend in the last four days has been quite strong, we do not have strong sell signals at our disposal. Thus, we believe that it is not worth taking unnecessary risks in the current situation. It is better to expect strong signals and be sure that they will be worked out by at least 70-80% than to enter the market when it is not clear why the dollar began to grow now, when a new political crisis is brewing in the United States, and their president falls under impeachment procedure for the second time. Earlier, we have repeatedly said that the dollar should not have fallen in recent months, but the question now stands as follows: why did it start growing at this particular time? What was the reason? Or did traders just finally get enough long deals and start taking profits? In terms of foundation, there is still little to say. No important reports scheduled for Tuesday both in the US and the EU and, as we mentioned earlier, this does not matter anyway, since market participants are still ignoring any events and reports. Yesterday we said that this is for the best, since only one factor needs to be analyzed - the technical one. But this morning, it is clear that this factor is also not very helpful in trading. If the euro/dollar pair really falls due to the closure of long positions, then it will continue to move down for another 100 or 200 points without retreating. Nevertheless, we still expect a correction to the area of the upper border of the descending channel. This should be enough for the MACD indicator to discharge and be able to create strong signals. Possible scenarios on January 12: 1) Long positions are currently irrelevant, since the upward trend line has been overcome. Therefore, those who wish to buy the EUR/USD pair on such a market should wait for a new upward trend or the downward trend to end (the quote settling above the descending channel). In this case, you can consider long positions with targets around the 1.2270 level. 2) Trading for a fall is more relevant now, since a downward channel has been created. Thus, you are advised to open new short positions with targets at the support levels of 1.2123 and 1.2080, if a new MACD sell signal is generated, which should be discharged to zero before that. Also, rebounding from the upper border of the descending channel can be considered as a sell signal. If the price settles below the 1.2131 level, beginners can also sell the pair in small volumes, but this signal is more risky. On the chart: Support and Resistance Levels are the Levels that serve as targets when buying or selling the pair. You can place Take Profit near these levels. Red lines are the channels or trend lines that display the current trend and show in which direction it is better to trade now. Up/down arrows show where you should sell or buy after reaching or breaking through particular levels. The MACD indicator (14,22,3) consists of a histogram and a signal line. When they cross, this is a signal to enter the market. It is recommended to use this indicator in combination with trend lines (channels and trend lines). Important announcements and economic reports that you can always find in the news calendar can seriously influence the trajectory of a currency pair. Therefore, at the time of their release, we recommended trading as carefully as possible or exit the market in order to avoid a sharp price reversal. Beginners on Forex should remember that not every single trade has to be profitable. The development of a clear strategy and money management are the key to success in trading over a long period of time. Forex forecast 01/012/2021 on EUR/GBP, GBP/USD, USD/JPY and US Dolar Index from Sebastian Seliga 2021-01-12 Let's take a look at the technical analysis of EUR/GBP, GBP/USD, USD/JPY and US Dolar Index on daily time frame chart. Technical analysis of AUD/USD for January 12, 2021 2021-01-12  Overview : Intraday bias in the AUD/USD pair remains bullish for the moment. On the upside, break of 0.7690 pivot will indicate short term topping. On bullish divergence condition in one-hour RSI. Intraday bias will be turned back to the upside for deeper correction to 0.7763 resistance first. On the upside, break of 0.7720 will resume larger up trend from 0.7720 (61.8% Fibonacci retracement levels) to the double top 0.7821. In coming three days, The AUD/USD pair will continue to move upwards from the level of 0.7690. Yesterday, the pair rose from the level of 0.9866 (the level of 0.9866 0.7658 coincides with a ratio of 38.2% Fibonacci retracement) to a top around 0.7718. Today, the first support level is seen at 0.7658 followed by 0.7620, while daily resistance 1 is seen at 0.7763. According to the previous events, the AUD/USD pair is still moving between the levels of 0.7658 and 0.7821; for that we expect a range of 163 pips (0.7821 - 0.7658). On the one-hour chart, immediate resistance is seen at 0.7763, which coincides with a ratio of 78% Fibonacci retracement. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish trending market. The price is still above the moving average (100), Therefore, if the trend is able to break out through the first resistance level of 0.7763, we should see the pair climbing towards the daily resistance at 0.7821 to test it. Rebuy orders are recommended above 0.7821 with the third target at 0.7875. Then, the pair is likely to begin an ascending movement to 0.7875 because the level of 0.7875 will act as strong resistance, and the double top is already set at 0.7821. It would also be wise to consider where to place stop loss; this should be set below the second support of 0.7620.
Author's today's articles: Mihail Makarov  - Irina Manzenko  Irina Manzenko 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. 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 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. 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 Stanislav Polyanskiy  Graduated from Odessa State Economic University. On Forex since 2006. Writes analytical reviews about international financial markets for more than 3 years. Worked as a currency analyst in different finance companies for a long time including the biggest companies of Russia and Ukraine. Mourad El Keddani  Was born in Oujda, Morocco. Currently lives in Belgium. In 2003 obtained B.S. in Experimental Sciences. In 2007 obtained a graduate diploma at Institut Marocain Specialise en Informatique Applique (IMSIA), specialty – Software Engineering Analyst. In 2007–2009 worked as teacher of computer services and trainer in a professional school specializing in computer technologies and accounting. In 2005 started Forex trading. Authored articles and analytical reviews on Forex market on Forex websites and forums. Since 2008 performs Forex market research, and develops and implements his own trading strategies of Forex analysis (especially in Forex Research & Analysis, Currency Forecast, and Recommendations and Analysis) that lies in: Numerical analysis: Probabilities, equations and techniques of applying Fibonacci levels. Classical analysis: Breakout strategy and trend indicators. Uses obtained skills to manage traders' accounts since 2009. In April 2009 was certified Financial Technician by the International Federation of Technical Analysts. Winner of several social work awards: Education Literacy and Non-Formal Education (in Literacy and Adult Education in The National Initiative for Human Development).
Languages: Arabic, English, French and Dutch.
Interests: Algorithm, Graphics, Social work, Psychology and Philosophy.
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