| Technical analysis of GBP/USD for January 15, 2021 2021-01-15  Overview : Our view on Sterling is a bullish market in coming days as long as the trend is still moving above the region of 1.3490 - 1.3500. The GBP/USD pair rose from the level of 1.3490 to a top around 1.3710. But, the GBP/USD pair failed to settle above the resistance at 1.3710 and pulled back from the last bullish wave. Today, the first resistance level is seen at 1.3710 followed by 1.3760, while daily support 1 is seen at 1.3490 (61.8% Fibonacci retracement). Yesterday, the GBP/USD pair broke resistance at 1.3583 which turned into strong support yesterday. This level coincides with 78% of Fibonacci retracement which is expected to act as major support today. Equally important, the RSI is still signaling that the trend is upward, while the moving average (100) is headed to the upside. Accordingly, the bullish outlook remains the same as long as the EMA 100 is pointing to the uptrend. This suggests that the pair will probably go above the daily pivot point (1.3583) in the coming hours. The GBP/USD pair will demonstrate strength following a breakout of the high at 1.3583. Consequently, the market is likely to show signs of a bullish trend. In other words, buy orders are recommended above 1.3583 with the first target at 1.3710. Then, the pair is likely to begin an ascending movement to 1.3760 mark and further to 1.3820 levels in coming three days. The level of 1.3820 will act as strong resistance, and the double top is already set at 1.3710. On the other hand, the daily strong support is seen at 1.3490. If the GBP/USD pair is able to break out the level of 1.3490, the market will decline further to 1.3270 (daily support 3). On one-hour chart : The trend of GBP/USD pair movement was controversial as it took place in the uptrend channel. Due to the previous events, the price is still set between the levels of 1.3490 and 1.3710, so it is recommended to be careful while making deals in these levels because the prices of 1.3710 and 1.3490 are representing the resistance and support respectively. Therefore, it is necessary to wait till the uptrend channel is passed through. Then the market will probably show the signs of a bullish market. If the pair fails to pass through the level of 1.3490 (major support), the market will indicate a bullish opportunity above the strong support level of 1.3490. In this regard, buy deals are recommended lower than the 1.3490 level with the first target at 1.3710 . It is possible that the pair will turn upwards continuing the development of the bullish trend to the level 1.3720, then continue towards the next objective of 1.3820. However, stop loss has always been in consideration thus it will be useful to set it below the last bearish wave at the level of 1.3490 (notice that the major support today has set at 1.3490). 
On the way to brilliant heights: $2000 is not the limit for gold 2021-01-15  Experts agree that the coming year will be favorable for gold. Temporary subsidence will be replaced by a rise at the mark of $2000 per 1 ounce. This will be one of the steps on the path of growth of the precious metal. According to the calculations made by analysts of the investment bank Standard Chartered, this year the metal will please investors with a rise above $2000 per 1 ounce. According to experts, in the first half of 2021, a noticeable increase in the price of the precious metal is expected. The bank believes that in the first six months of this year, the US Dollar will continue to weaken, which is favorable for gold. The metal is also supported by the soft monetary policy of the US Federal Reserve. Today, January 15, the precious metal is gaining momentum amid the adoption of a new package of stimulus measures by the Joe Biden administration. At the end of this week, gold is trading near $1851–$1852 per 1 ounce, trying to rise higher.  Last year, the precious metal experienced its finest hour. In August 2020, gold was trading at $2,089 per 1 ounce. However, risk appetites have now increased among investors which is why they are buying less precious metals. As a result, by the end of 2020, gold fell to $1,841. In the coming year, many analysts expect the growth of the precious metal to continue. According to experts, the current correction of Gold was triggered by an increase in the yields of US government bonds. Some analysts expect the price of gold to rise to $2,300 per 1 ounce and maintain high prices in 2021. Support for the metal is provided by the growth of inflationary processes against the background of large-scale fiscal incentives in the United States. This year, demand for gold will remain high due to economic instability and increased volatility in global markets. Experts of the World Gold Council (WGC) hold a similar point of view. According to the forecast for the pricing of the metal for 2021 presented by the WGC, more investors will be interested in gold. For many market participants, the precious metal remains one of the most attractive protective assets, which helps to keep savings in the long-term planning horizon. EUR/USD dips below 1.21 mark. Relies on ECB and Fed's decision on monetary policy 2021-01-15 The US dollar started 2021 on a positive note. The growth in Treasury yields and expectations of the acceleration of the US economy under the influence of large-scale stimulus from Joe Biden allowed the bears on EUR/USD to lower quotes to the bottom of the 21st figure. Judging by the S&P 500 rally, the divergence looks surprising, because the US stock index is an indicator of global risk appetite, and its growth, as a rule, leads to the sale of safe-haven assets. The market even began to circulate rumors that the dollar will change and will strengthen in 2021 in response to the positive global GDP. In my opinion, the main driver of the EUR/USD peak in the first half of January was the "hawkish" comments of the Fed's plenipotentiaries, who did not hesitate to talk about the bright future of the US economy and QE by $120 billion a month. If the Fed begins to tighten monetary policy, and the ECB continues to soften it, the divergence will play into the hands of the bears on the main currency pair. Indeed, the opinion of individual officials is not the opinion of the entire Central Bank. However, the most respected FOMC members, Jerome Powell and Richard Clarida believe that it is too early to talk about a reduction in asset purchases. The head of the Fed said that the most important mistake after the 2007-2009 crisis was the excessively rapid normalization of monetary policy. In 2013, Ben Bernanke's announcement of the end of QE provoked hysteria in the financial markets, which cost the global economy dearly. Most likely, the Fed will continue to sit idly by for a very long time, and there may be problems with the expansion of the scale of monetary stimulus from the ECB. Yes, the eurozone economy is languishing with deflation and is likely to face a double recession, but inflation expectations have risen to their highest levels in almost a year, and the volume of monthly asset purchases in QE is declining. Dynamics of ECB asset purchases 
According to the minutes of the December meeting of the ECB, members of the Governing Council believe that the program for the emergency purchase of bonds may not be used in full. This testifies to the gaining strength of the "hawks", which was held back under Mario Draghi, and was encouraged under Christine Lagarde. I do not think that the European Central Bank should be expected to ease monetary policy in 2021. It is likely to stick to the same strategy of passive contemplation, and that of the Fed. This circumstance makes it necessary to focus on the speed of economic growth when predicting the future dynamics of EUR/USD. If vaccination is successful, it will be higher in the eurozone in the second quarter than in the US, due to the rapid exit from a tougher lockdown. As a result, the main currency pair will be able to continue the rally in the direction of 1.25-1.27. Technically, on the daily chart of EUR/USD, there is a "Surge and Reversal with Acceleration" pattern. To change the trend, bears need to lower the pair's quotes below 1.19, which seems to be a difficult task. I recommend using the rebound from the support at 1.208 and 1.204, as well as breakouts of resistances at 1.218 and 1.221 to form longs. EUR/USD, daily chart 
Technical recommendations for EUR/USD and GBP/USD on January 15 2021-01-15 EUR/USD  Despite the fact that the pair recorded a new low yesterday, it kept its location and moved around the zone of attraction and influence of the all-time level of 1.2170, which is now strengthening the daily Ichimoku gold cross. Currently, the main tasks of the bears are to eliminate the daily cross and execute the weekly correction to the first target – the weekly short-term trend (1.2075). As for the bulls, it is important for them to maintain consolidation and secure the daily cross (1.2238 - 1.2204 - 1.2170) and the all-time level of 1.2170.  The pair is not only below the significant levels in the upper time frames, but also below the key levels of the lower ones, which are located at 1.2174 (weekly long-term trend) and 1.2148 (central pivot level) today. As long as this situation continues, the bears will remain in favor. The intraday downward pivot points are the support of the classic pivot levels (1.2116 - 1.2080 - 1.2048). On the other hand, if a consolidation occurs above the key levels (1.2148-74), it will affect the current balance of power. In this case, the resistance levels of 1.2184 (R1) - 1.2216 (R2) - 1.2252 (R3) will serve as benchmarks. These resistances are strengthened by the levels (daily cross) in the higher time frames, so breaking them will open up new bullish prospects not only on the hourly chart. GBP/USD  The next update of the maximum did not lead to a change in the situation. The bulls did not manage to achieve anything convincing. Therefore, the situation remains controversial without any clear leads and prospects. For bulls, the first target for breaking the weekly cloud (1.3904) looms on the range, while for the bears, the nearest corrective pivots at the daily Tenkan (1.3580) and the weekly Tenkan (1.3422) are considered.  The pair is in deep correction in the smaller time frame, overcoming the central pivot level (1.3670). Therefore, we will continue to the next pivot point for the decline, which is the weekly long-term trend (1.3605). But the balance of power will change in case of a breakdown and reversal of the moving average. Today is the close of the week. It is possible that more significant movements will only appear next week, and this will allow us to talk about the current clear advantage of either side. Ichimoku Kinko Hyo (9.26.52), Pivot Points (classical), Moving Average (120) Technical analysis of EUR/USD for January 15, 2021 2021-01-15  Overview : The EUR/USD pair faced strong resistance at 1.2200 and pulled back closer to the support at 1.2111 while the U.S. dollar gained some ground against a broad basket of currencies. Current price sets at the point of 1.2142. The EUR/USD pair could not manage to settle above the resistance at 1.2200 and pulled back towards the nearest support level at 1.2111. Alos, it should be noted that : The market opened below the weekly pivot point (1.2166). It continued to move downwards from the level of 1.2166 to the bottom around 1.2111. Today, the first resistance level is seen at 1.2200 followed by 1.2255, while daily support 1 is seen at 1.2111. If the GBP/USD pair settles below 1.2200, it will continue its downside move and head towards the next support level at the 20 EMA at 1.2111 again. The GBP/USD pair broke support which turned to strong resistance at 1.2200. Right now, the pair is trading below this level. It is likely to trade in a lower range as long as it remains below the resistance (1.2200) which is expected to act as major support today. In case the GBP/USD pair declines below the support at 1.2111, it will move towards the next support level at 1.2080. This support level has been tested several times in recent trading sessions and proved its strength. This would suggest a bearish market because the moving average (100) is still in a negative area and does not show any signs of a trend reversal at the moment. Amid the previous events, the GBP/USD pair is still moving between the levels of 1.2200 and 1.2053, so we expect a range of 147 pips in coming days. Therefore, the major resistance can be found at 1.2200 providing a clear signal to sell with a target seen at 1.2111. If the trend breaks the minor support at 1.2111, the pair will move downwards continuing the bearish trend development to the level of 1.2080 in order to test the daily support 2. Next objective 1.2053 (support three). Overall, we still prefer the bearish scenario which suggests that the pair will stay below the zone of 1.2200. However, on the upside, the GBP/USD pair needs to get above the resistance at 1.2200 to continue its upside move. The next resistance level for the GBP/USD pair is located at 1.2200. If GBP/USD manages to get above this level, it will head towards the resistance at 1.2255. Trading idea for GBP/USD 2021-01-15  Very weak economic data came out from the UK this morning.  As a result, GBP / USD traded near a price level of 1.37.  Taking this into account, it is best to open short positions today, following this strategy:  In the daily chart, set up sell positions to 1.36 after a pullback. But if the quote undergoes a true breakout (at 1.36), hold positions up to 1.34. Aside from that, risks are needed to be monitored to avoid losing money. Trading is very precarious, but also profitable if the approach used is correct. The strategy above uses Price Action and Stop Hunting methods. Good luck!
Author's today's articles: 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. l Kolesnikova  text Igor Kovalyov  Igor Kovalyov was born on September 24, 1985. Igor graduated from Krasnoyarsk State University with a degree in Philology and Journalism. He has a wide experience as a newspaper and information agency correspondent. He got interested in financial markets in 2001. He also graduated from Moscow State University of Economics, Statistics, and Informatics (MESI) with a degree in Global Economics and then served as an analyst in an investment company. He has been working at InstaForex since 2014. Zhizhko Nadezhda  Graduated from Irkutsk State University. Having acquainted with Forex market in 2008, followed the courses in the International Academy of Stock Exchange Trading. The agenda was so exiting that she moved to St. Petersburg in order to get professional education. Obtained a diploma of the retraining course on the discipline Exchange market and stock market issues, defended the graduation paper with distinction on the subject "Modern technical indicators as the basis of the trading system". At the moment obtains a master degree in International Banking Institute on specialty Financial markets and investments. Apart from trading is occupied with development of trading systems and formalization of the working strategies using Ichimoku indicator. At the moment is working on the book dedicated to the peculiarities of Ichimoku indicator and its operating methods. Interests: yoga, literature, travelling and photograph. "You can only get smarter by playing a smarter opponent" Basics of Chess play, 1883 "Successful people change by themselves, the others are changed by life" Jim Rohn Andrey Shevchenko  Andrey Shevchenko
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