| Indicator analysis. Daily review for the EUR/USD currency pair on 19/01/2021 2021-01-19 Trend analysis (Figure 1). Today, from the level of 1.2076 (the closing of yesterday's daily candle), the market will try to make an upward movement with the target of 1.2177 which is the resistance level (blue bold line). After testing this level, the market can continue to work up with the target of 1.2234 which is the historical resistance level (blue dotted line). 
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, from the level of 1.2076 (the closing of yesterday's daily candle), the price will try to make an upward movement with the target of 1.2177 which is the resistance level (blue bold line). After testing this level, the price can continue to work up with the target of 1.2234 which is the historical resistance level (blue dotted line). Alternative scenario: From the level of 1.2076 (the closing of yesterday's daily candle), the price will try to make an upward movement with the target of 1.2102 which is a pullback level of 76.4% (yellow dotted line). After testing this level, the price can make a downward movement with a target of 1.1975 which is a pullback level of 50% (red dotted line). Indicator Analysis. Daily review for the GBP/USD currency pair 01/19/21 2021-01-19 Trend Analysis (Figure 1). Today, the market will try to start moving up from the level of 1.3582 (the closing of yesterday's daily candle) with a target of 1.3676 at the retracement level of 76.4% (yellow dotted line). If this level is reached, it will go up with the target of 1.3702 at the upper fractal (red dotted line). 
Figure 1 (daily chart). Comprehensive Analysis: General Conclusion: Today, the price will try to start moving up from the level of 1.3582 (the closing of yesterday's daily candle) with the target of 1.3676 at the retracement level of 76.4% (yellow dotted line). If this level is reached, it will go up with the target of 1.3702 at the upper fractal (red dotted line). Unlikely scenario: when moving up and reaching the retracement level of 76.4% at 1.3672 (yellow dotted line), the price will try to continue moving down with the target of 1.3519 at the lower fractal (daily candle from 01/18/2021). If this level is reached, it will go down with the target of 1.3372 at the retracement level of 14.6% (red dotted line). Trading plan for EUR/USD and GBP/USD on January 19 2021-01-19 It can be noted that there is nothing on the macroeconomic calendar for two consecutive days. We are witnessing a clear stagnation, which is apparently due to a holiday yesterday in the US. However, this does not clear up what is happening in the pound, which was declining quite noticeably yesterday. Moreover, today's trading opened with a rebound and a return to the values from which it began the trading week. There is also growth in the single European currency, but this movement's scale is simply absurd. All of this is because of tension and anxious anticipation. The market is waiting for tomorrow's inflation data in Europe, which may clarify what to expect from the result of the European Central Bank's board meeting on Thursday. This is precisely the reason for the uncertain upward trend of European currencies. The market usually goes in the opposite direction when anticipating significant news. Thus, if European currencies are showing slight growth, then investors clearly expect extremely negative news. Another thing is that everyone is even more afraid to take risks, so the scale of movements is extremely small. In addition, investors are clearly worried that the forecasts for Europe's inflation will become a reality, which means that the ECB's further steps to ease monetary policy can be expected. The starting point will be tomorrow's consumer price data, which could show that deflation in Europe has been dragging for five consecutive months. In this case, the price's rate of decline may remain unchanged for four months in a row. In general, the forecasts are disappointing, and there is too much at stake. This is what fears the markets. 
The EUR/USD pair, after correcting from the high of 1.2349, reached the level of 1.2053, from which a stop occurred and resulted in a pullback of around 45 points. We can assume that the quote will remain in the correction low, forming a variable amplitude within the limits of 1.2055/1.2105. 
The GBP/USD pair, showing active downward interest, found a pivot point in the area of 1.3519 on Friday and Monday morning, where there was a slowdown and a pullback. We can assume that the coordinates of 1.3620 will prevent the pullback from happening again, which may lead to a stop, and then followed by a slowdown in amplitude of 1.3570/1.3630. 
AUD/USD. Janet Yellen's speech to Congress, Biden's inauguration and Australia's labor market 2021-01-19 The Australian dollar only gained slight support from Chinese data: China's GDP for Q4 exceeded its annual forecast. This fact was initially ignored by AUD/USD pair traders, amid general tension associated with the process of transferring power from Trump to Biden. Nevertheless, investors still made good use of this fundamental factor during today's Asian session – The Australian dollar left the weekly lows and returned to the level of 0.77. The US dollar index, in turn, remained in a flat, namely within the middle of the 90th mark. In this case, the upward impulse has clearly faded. At the beginning of the current trading week, the US dollar was moving clearly by Friday's inertia, amid an almost empty economic calendar and closed US trading floors in celebration of Martin Luther King Day. 
Today, the currency market has started working fully. There is an assumption that the dollar's general decline is associated with two factors. First, the overall demand for protective tools, which include dollars, has declined. It is possible that the market has changed its attitude to the events that are currently taking place in the States. The unusual tightening of security measures in Washington also initially triggered anti-risk sentiment. Thousands of soldiers who hovered around the streets of the American capital, as well as the barricades around the Capitol, alarmed investors. Thus, the initial growth of the US dollar was very justified. But the growth of the dollar index has taken a pause at this time, although the military in Washington has not become less. Perhaps, the market has assessed what is happening from a different angle: given the preventive measures taken, the probability of the implementing attacks that could prevent the inauguration of the newly elected US President is reduced to zero. According to CNN, the ceremonial procedure will be guarded by a total of about 25 thousand soldiers of the National Guard. This number is more than three times the number of active American troops currently in Afghanistan, Iraq and Syria combined. Given this fact, it is difficult to imagine a repetition of the resonant and tragic events that occurred on January 6, when Trump supporters stormed the Capitol. Here, it should be noted that the dollar bulls did not retreat, but only delayed their progress on the wave of declining interest in defensive assets. This circumstance allowed the buyers of AUD/USD to partially regain their lost positions. However, it is too early to talk about the priority of long positions in the pair. First, Janet Yellen will make a speech in the Congress today. Secondly, traders still need to endure Biden's inauguration, which will take place tomorrow. Lastly, key data on Australia's labor market growth will be released on Thursday. This release is critically important for the Australian dollar, so it may also affect the dynamics of the AUD/USD pair. In view of today's almost empty economic calendar, traders in dollar pairs will be focusing their attention on the speech of the future US Treasury Secretary Janet Yellen, who is known to be the Fed's Chairman before Jerome Powell. According to the results of today's hearings in the relevant committee, senators must approve her candidacy for the proposed post. Most experts believe that Ms. Yellen will provide background support to the US currency, as she will lobby for a massive aid package (the so-called $ 1.9 trillion "salvation plan for America") in Congress, which Biden presented recently and will abandon the practice of the Donald Trump administration in relation to the US dollar, declaring her commitment to market regulation of the national currency. On the one hand, the above rhetoric can really inspire dollar bulls to another price breakthrough. On the other hand, the content of Yellen's opening speech has been in the American press for the second day, so it is unlikely that traders will react too much to this. But the intrigue remains, as the former head of the Fed will answer additional questions from senators, which may excite the markets. In my opinion, the US currency will react to Janet Yellen's speech either positively or neutrally – there is a low probability of a negative reaction. In addition, a large-scale recovery of AUD/USD is unlikely to be talked about until Joe Biden actually takes office or until the inauguration. Despite the unprecedented security measures, the market will still be wary of this event, due to a strong escalation of the situation. Due to this, the US dollar index is not showing a downward trend, but remains in flat. Lastly, the Australian dollar still has to pass another kind of test. Australian key data on labor market growth will be released on Thursday. This release is important not only in the context of short-term and medium-term growth prospects for the AUD/USD pair, but also in the long-term. At the December meeting, RBA members expressed concern that labor market indicators are recovering at an "uneven" pace. And almost immediately after it, November data were published, which favored the AUD. First, the unemployment rate rapidly declined to 6.8%. Secondly, the growth rate in the number of employed soared by 90,000 against the forecasted 40,000, which is due to the growth of the full employment component. If the December figures confirm November's trends (positive dynamics will continue based on preliminary forecasts), then the Aussie will receive a very strong reason for its recovery. 
Therefore, the US dollar is likely to prove itself once again in the short term, given the above fundamental factors. In the context of the AUD/USD pair, this means that the bears will retest the level of 0.7660 (lower line of the Bollinger Bands indicator on the daily chart). Sellers tried a lot of times to move under this target throughout this month, but it ended unsuccessfully every time. In this case, it is better to change short positions with long ones in this price area, with a mid-term target of 0.7780 (local high). EUR/USD: plan for the European session on January 19. COT reports (analysis of deals). Downward trend stalls, but today's eurozone data may bring back sellers to the market 2021-01-19 To open long positions on EUR/USD, you need: Low volatility and lack of activity on the part of players amid the celebration of Martin Luther King Day in the United States - this was the main reason for the lack of signals to enter the market on Monday, January 18. The only thing that was formed in the afternoon was a false breakout and being able to return to the 1.2064 level. However, it was very difficult to determine this signal on the "live" market, so I missed it. Before talking about the prospects for the pair's movement, let's see what happened in the futures market and how the Commitment of Traders (COT) positions changed. Judging by the presented chart, the euro's decline at the beginning of this year had a very strong impact on the positions of traders, returning the appeal of risky assets. The COT report for January 12 recorded a sharp increase in long positions and a reduction in short ones. Buyers of risky assets continue to believe in a bullish trend, especially after such a large decline in the euro earlier this year, which made it possible for new large players to enter the market. Vaccination against the first strain of coronavirus continues in Europe, leading to new buyers for the euro. The likely approval of the next $1.9 trillion bailout plan for the US economy is likely to further erode the dollar. A limiting factor for the euro's growth is the risk of extending quarantine measures in February this year, both in Germany and in a number of other European countries. Thus, long non-commercial positions increased from 224,832 to 228,757, while short non-commercial positions fell from 81,841 to 72,867. Due to the sharp drop in short positions, the total non-commercial net position increased from 143,902 to 155,890 a week earlier. Now for the technical picture of the pair. EUR/USD buyers must protect the support level of 1.2064, which was rather widespread yesterday. But, despite this, the actions of buyers are clearly visible on larger timeframes, and they coped with their task, not allowing a real breakdown of this range. If the pair falls to 1.2064 in the first half of the day, forming a false breakout there creates a buy signal. If bulls are not active at this level, and the MACD indicator has already returned to zero, then it is best to postpone long positions until the test of the next monthly low in 1.2026 and 1.1986, from where you can buy EUR/USD immediately on a rebound, counting on a correction of 20- 25 points within the day. An equally important task for the bulls is to return control to the 1.2102 level, around which the main trade is currently being conducted. A breakout and being able to settle above 1.2102 and testing this area from top to bottom creates a convenient entry point into long positions in hopes of returning and updating resistance at 1.2142, where I recommend taking profits. The 1.2142 area will be the next target for the middle of the week. 
To open short positions on EUR/USD, you need: The initial task of the sellers is to protect resistance at 1.2102, in the area of which the moving averages also pass, playing on the side of the bear market. Forming a false breakout there will result in bringing back the downward trend, and its purpose is for the quote to surpass support at 1.2064, which was not done yesterday. The lower limit of the current descending price channel is just below this area. Getting the pair to settle below this range and testing it from the bottom up will open a direct road to a low of 1.2026, where I recommend taking profits. Bears will still aim for 1.1986, which will be the defining level in the current downward momentum. Today there are a number of important fundamental reports on the eurozone economy, which is expected to be rather negative, and may put even more pressure on the euro. If the bulls find the strength in themselves and manage to surpass resistance at 1.2102, I recommend not to rush to sell. The optimal scenario would be a test of the 1.2142 high, from where you can sell EUR/USD immediately on a rebound, counting on the pair's correction down by 20-25 points. 
Indicator signals: Moving averages Trading is carried out below 30 and 50 moving averages, which indicates that sellers are in 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 daily D1 chart. Bollinger Bands A breakout of the upper border of the indicator in the 1.2102 area will lead to a new wave of euro growth. A breakout of the lower border of the indicator around 1.2060 will increase the 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.
- 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 19. COT reports (analysis of deals). Pound is bought at every opportunity. Bulls are preparing for the 1.3611 rush 2021-01-19 To open long positions on GBP/USD, you need: Yesterday, several signals to sell the pound were created at once during the first half of the day. I marked the breakout and the 1.3567 level was tested from the bottom up, which resulted in creating a convenient entry point for short positions. Immediately after that, the pound fell to the first target (1.3539), bringing around 30 points of profit. After some time, the bears achieved a breakout and the 1.3539 level was also tested from the bottom up, which results in creating another entry point to short positions. However, in this case, there was no major fall, and after a 20-point decline, the bulls returned the pound to the 1.3539 level. The technical picture was revised in the afternoon, but to my regret, there were no signals to enter the market. The only moment is a breakout and getting the pair to settle above 1.3557, however, this level was not tested from top to bottom, which forced me to miss this entry point. Before examining the technical picture of the pound, let's take a look at what happened in the futures market. The demand for the pound continues to gradually increase as it decreases. The Commitment of Traders (COT) report for January 12 recorded an increase in both long and short positions, but there were more of the first ones, which caused the delta to increase. Long non-commercial positions increased from 35,526 to 47,935. At the same time, short non-commercial positions increased from 31,861 to 34,993. We can see that sellers turned out to be much less than new buyers. As a result, the non-commercial net position rose to 12,942 against 3,665 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 situation stabilizes. The Bank of England's recent refusal to introduce negative interest rates and the pound's decline earlier this year have brought many large medium-term buyers back into the market, expecting a continuation of the bull market this spring. As for the technical picture of the pair, the pound is still in demand in today's Asian session, which may result in a new upward movement, however, the bulls need to work very hard for this. A breakout and consolidation above resistance (1.3611) with a test of this level from top to bottom creates a good entry point for long positions. As an example, we can take yesterday's trade, after surpassing resistance (1.3557), however, this level should be tested from the other side. In this case, we can count on the larger upward trend to take the quote to the 1.3658 (high) and expect an update of the annual resistance (1.3701) in the long term, where I recommend taking profits. If the GBP/USD is under pressure in the first half of the day, then buyers must maintain control over the 1.3571 level. Forming a false breakout there will be a signal to open long positions in hopes for the pound to recover in the short term. You can open long positions immediately on a rebound after testing yesterday's low at 1.3531, counting on an upward correction of 30-40 points within the day. 
To open short positions on GBP/USD, you need: The task is quite difficult for the bears. Forming a false breakout in the resistance area of 1.3611 will return pressure to the pair and result in its succeeding decline. A more important goal is a breakout and being able to settle below support at 1.3571, where the 30-day moving average passes, which is already playing on the side of pound buyers. In general, take note that trading is carried out within the moving averages, which indicates the balance of buyers and sellers. Testing the 1.3571 level from the bottom up creates a good signal to open short positions in GBP/USD, in order to pull it down to a low of 1.3531, where I recommend taking profits. We can finally speak about bringing back the downward trend when the quote has finally surpassed 1.3531, which will open a direct road to the low of 1.3480. If the bulls manage to regain the 1.3611 level in the morning, then it is better not to rush with short positions. The optimal scenario for selling the pound is when the 1.3658 high has been updated. I also recommend opening short positions immediately on a rebound in the resistance area of 1.3701, counting on a downward correction of 30-35 points within the day. 
Indicator signals: Moving averages Trading is carried out in the area of 30 and 50 moving averages, which indicates the sideways nature 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 daily D1 chart. Bollinger Bands A breakout of the upper border of the indicator around 1.3625 will lead to a new wave of growth for the pound. A breakout of the average border of the indicator in the 1.3571 area will increase the 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.
Daily trading plan for EUR/USD 19/01/2021 2021-01-19 The first pattern that needs to be considered today is the continuation of the downward momentum after testing the WCZ 1/4 1.2098-1.2094. If the zone test leads to a continuation of the fall, then the probability of updating the weekly minimum will remain equal to 75%. This model will be a continuation of the weekly pattern absorption formed in the first half of January.  Going in the downward direction has a higher probability of working out since the continuation of the trend always occurs more often than its reversal. An alternative model for today will be developed if the closing of European trading occurs above the level of 1.2098. This will open the way for corrective growth to the WCZ 1/2 1.2142-1.2134. The WCZ 1/2 test will allow you to get the most favorable prices for the sale of the instrument.  Daily trading plan for GBP/USD 19/01/2021 2021-01-19 Friday's drop created the conditions for a downward movement in the first half of this week. The main resistance is the WCZ 1/4 1.3637-1.3627. Testing this zone will allow you to get favorable prices for sale. The target of the bearish model remains WCZ 1/2 1.3494-1.3473. When it is reached, full or partial sales fixation will be required.  The generated model has an 80% chance of working out. It makes the sales made above the current maximum the best on the course. To cancel the downward momentum, it will be necessary to close today's trading above WCZ 1/4. This will open the way for continued growth in the medium term, as the bullish momentum has yet to be broken at higher levels.  Trading plan for EUR/USD on January 19. 2021-01-19 
Another decline has been observed in terms of global COVID-19 incidence. Perhaps, this is a sign that the pandemic is now retreating. Even the US has recorded a significant decrease in new infections. With regards to vaccinations, the pace is still very slow. Large countries have vaccinated only less than 4% of the population. 
EUR / USD: Market participants are awaiting the report of ECB, as well as upcoming data for US employment. Open short positions from 1.2110. Open long positions from 1.2180. Technical Analysis of GBP/USD for January 19, 2021 2021-01-19 Technical Market Outlook: After the GBP/USD pair had tested the recent swing high located at the level of 1.3698, there was no follow through in form of any breakout higher and the market reversed towards the local technical support seen at the level of 1.3524. This level had been violated as well and new low was made at the level of 1.3519 (at the time of writing this analysis). The next target for bears is seen at the level of 1.3450, which is the recent swing low. The immediate technical resistance is seen at the level of 1.3615. The weak and negative momentum supports the short-term bearish outlook for Cable. Weekly Pivot Points: WR3 - 1.3982 WR2 - 1.3839 WR1 - 1.3718 Weekly Pivot - 1.3586 WS1 - 1.3464 WS2 - 1.3322 WS3 - 1.3204 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 19, 2021 2021-01-19 Technical Market Outlook: The EUR/USD pair has hit the lower channel boundary, seen at the level of 1.2065 and bounced 53 pips during the last 20 hours. The lower channel line is located very close to the key technical support, located at the level of 1.2060. If this level is clearly violated, then the corrective cycle will get deeper and the next target for bears will be at the level of 1.2000. In order to bounce higher and resume the up trend, the bulls must break through the level of 1.2141 (overbalance level). The weak and negative momentum supports the short-term outlook for this market. Weekly Pivot Points: WR3 - 1.2304 WR2 - 1.2263 WR1 - 1.2147 Weekly Pivot - 1.2111 WS1 - 1.2005 WS2 - 1.1985 WS3 - 1.1848 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. 
Elliott wave analysis of EUR/JPY for January 19, 2021 2021-01-19 
EUR/JPY dipped to a low 125.06 demonstrating that the decline from 127.48 couldn't be red wave iv/, but rather red wave ii/ and more upside pressure should be expected in the coming days towards 127.48 and ultimately closer to the 129.06 target. We expect the the 125.06 low will be able to protect the downside as red wave iii/ gathers upside momentum. That said, a short-term pull-back into support in the 125.40 - 125.50 area should be expected before the next solid push higher through minor resistance at 126.54 towards 127.48 and above. R3: 126.54 R2: 126.17 R1: 125.96 Pivot: 125.83 S1: 125.61 S2: 125.50 S3: 125.40 Trading recommendation: We are long EUR from 125.75 and we have moved our stop higher to 125.05. Daily review for EUR/USD on January 19, 2021 2021-01-19 
Daily review for EUR/USD pair: We continue to sell from the level of 1.2110. There is an upward reversal from 1.2180. However, a possible closer new upward level will be considered, in case the euro pulls back down. On Thursday, a lot of information will be released – European Central Bank's monetary policy meeting and employment report in the United States. Thus, it is likely that the euro will wait for these news. Technical Analysis of AUD/USD for January 19, 2021 2021-01-19  Overview : The AUD/USD pair continues to move upwards from the level of 0.7660. Yesterday, the pair rose from the level of 0.7660 (the level of 0.7660 coincides with the last bearish wave) to a top around 0.7725. Today, the first support level is seen at 0.7660 followed by 0.7625, while daily resistance 1 is seen at 0.7751. According to the previous events, the AUD/USD pair is still moving between the levels of 0.7660 and 0.7806; for that we expect a range of 146 pips (0.7806 - 0.7660). On the one-hour chart, immediate resistance is seen at 0.7751, which coincides with a ratio of 61.8% 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) and (50), Therefore, if the trend is able to break out through the first resistance level of 0.7751, we should see the pair climbing towards the daily resistance 2 at 0.7806 to test it. It would also be wise to consider where to place stop loss; this should be set below the second support of 0.7625. Conclusion : The daily pivot pint sets at the point of 0.7733. If the trend is able to break out through the first resistance level at 0.7751, we should see the pair climbing towards the double top (0.7806) to test it. Therefore, buy above the level of 0.7733 with the first target at 0.7751 in order to test the daily resistance 1 and further to 0.7806. Also, it might be noted that the level of 0.7806 is a good place to take profit because it will form a double top. On the other hand, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7625, a further decline to 0.7603 can occur which would indicate a bearish market. Elliott wave analysis of GBP/JPY for January 19, 2021 2021-01-19 
The correction in green wave ii/ held nicely above short-term key support at 140.34. The following rally of the 140.36 low is strong a does look impulsive in nature indicating more upside pressure after a temporary set-back into the 140.81 - 140.96 support-area. Ultimately we will be looking for a break above the former peak at 142.26 towards 147.96 and likely even closer to 156.23. Only a break below 140.34 will call for a revision of our bullish outlook. R3: 142.72 R2: 142.24 R1: 141.58 Pivot: 141.45 S1: 141.11 S2: 140.96 S3: 140.81 Trading recommendation: We are long GBP from 140.71 and we have moved our stop higher to 140.30. Analytics and trading signals for beginners. How to trade EUR/USD on January 19? Plan for opening and closing deals on Tuesday 2021-01-19 Hourly chart of the EUR/USD pair 
The EUR/USD pair began to correct to the upper limit of the descending channel last night. And so, the pair, first of all, slightly corrected, and secondly, the MACD indicator slightly discharged. The indicator went above the zero level, so the condition for creating a new strong sell signal has been met. Thus, novice traders are lucky that a new signal did not appear during the evening. Of course, it isn't certain that it will be created. The price can, for example, overcome the descending channel, but in this case a signal will be formed, but for a purchase. Thus, wherever you throw it, there is still a wedge everywhere. The most negative scenario assumes that there is no clear rebound from the upper channel line, no clear break, no clear signal from MACD. You should only open positions if there is a clear and accurate signal. In the meantime, the downward trend continues, so we still expect the dollar to strengthen, which was hit hard in 2020. In terms of foundation, there is still nothing to expect for today. Yesterday, the low volatility from the pair was partly due to the celebration of Martin Luther King Day in America, so today's trading may be more volatile. However, we still do not expect news, reports, and events today. As we said earlier, there are several topics that are interesting and can be tracked by traders, but all of them do not have an immediate impact on the pair's movement and the mood of the markets. We would say that the most important event will take place tomorrow. After all, tomorrow is Joe Biden's Inauguration Day. On this day, riots are possible, for which the special services and the US National Guard are already actively preparing. But, perhaps, everything will be quiet and peaceful. One way or another, the markets simply have nothing to react to now. Therefore, we recommend focusing all your attention on technical factors. Possible scenarios on January 19: 1) Long positions are still irrelevant at the moment, as the downward trend remains in force. However, the price is already in the immediate vicinity of the upper limit of the descending channel, therefore, it is possible to settle above it. And this will be a buy signal with targets at 1.2125 and 1.2160. All support/resistance levels are too close to each other, because they are based on the previous day's trades. And yesterday the volatility of the pair was 34 points... 2) Trading bearish is still more relevant. You are advised to open new short positions with targets at support levels 1.2059 and 1.2040 after a sell signal from the MACD indicator, which has already been sufficiently discharged, or when the price has rebounded from the upper line of the descending channel. 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. Forecast for EUR/USD, January 19. Will EUR grow above 23 pattern? 2021-01-19 
The wave marking of the upward trend has taken a completed five-wave form. Thus, the current wave marking implies the construction of a new downward trend section. If so, the pair may decline to the levels around the 19 and 18 patterns. However, do not forget that in recent months, demand for the US dollar has been extremely low, so the upward trend may well resume and become more complicated. 
The wave marking of a smaller scale also indicates the completion of the upward trend channel. The estimated wave 5 in 5 is finished. If it breaks the low of wave 4, it may build a three-wave downtrend. So far, everything looks like the beginning of a new section of the trend. I expect a further decline in the pair. On top of that, there is no significant news for the EUR/USD pair that may somehow affect its movements. Maybe investors are waiting for only one event. They want the era of Donald Trump to end as soon as possible. So, everyone is expecting Joe Biden's inauguration. It is scheduled for tomorrow. Despite the fact that nothing peculiar will happen on Inauguration Day, traders are still a little nervous. Yet, it does not have an impact on the movements of the quote. Nevertheless, many investors feel some kind of uneasiness. For this, we need to thank Donald Trump, who fueled the mob of the Capitol on January 6. Now Washington is under close surveillance of the military. Notably, all these events have no effect on the movement of the instrument. Many investors are now trying to figure out whether it makes sense to buy the euro again? Discussions about the state of the American economy never stop. There are always experts who make grim predictions for the US economy due to growing public debt and budget deficit. However, the US is still a world power. Besides, the government is not so concerned about the growing public debt as it is sure that it can be dealt with. However, why has the US dollar been falling in recent months, especially at a time when it is very unfavorable for the European Central Bank? Christine Lagarde, who usually does not comment on the euro exchange rate, has changed this rule and said that the current rate is may have a negative impact on inflation and exports. It seems that the ECB did not conduct any interventions, otherwise the US dollar would not have continued to grow steadily. The reason why it is better to wait for the completion of the euro increase is wave marking. Now it indicates the beginning of a new downward section of the trend. However, I draw attention to the fact that it is not the wave markup that drives the market, but the big players, central banks, and so on. The US government, for example, intends to inject trillion dollars into the economy. So, the Fed will again print more money. Thus, the US currency may resume its downward movement. Recommendations: The EUR/USD pair presumably completed the construction of an upward trend section. Thus, at this time, I recommend opening short deals on the pair with targets located around 20 and 19 patterns for each new downside signal of the MACD indicator. It does not look like a simple correction wave but like the end of the upward trend section. Therefore, several waves down are likely to appear. Forex forecast 01/19/2021 on USD/CAD, US Dollar Index, SP500, DJIA and DAX from Sebastian Seliga 2021-01-19 Let's take a look at the technical analysis of USD/CAD, US Dollar Index, SP500, DJIA and DAX at the daily time frame chart.
Author's today's articles: 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. Alexandr Davidov  No data 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. Sergey Mityukov  Sergey Mityukov was born on September 18, 1981. He holds degrees in: - Process Engineering from Irkutsk State Technical University; - Psychology from Irkutsk State Technical University. Forex trading experience: 5 years. Sergey is a professional educational psychologist, the author of trading methods based on adjacent markets interrelation and developer of alternative approaches to Fibonacci sequence in trading. He has a 2-year experience in carrying out live and online trading conferences. His portfolio includes dozens of training courses and methods. He developed several indicators, which are widely used by traders on futures and spot markets. Mihail Makarov  - 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 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. 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. 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. Alexander Dneprovskiy  Graduated from Kiev State University of Economics. On Forex market since 2007. Started his work at Forex as a trader. Since 2008 is working as a currency analyst.
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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
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