Daily Trading Analysis 26.01.2021

Technical & Fundamental analysis

Trading Analysis of USD/JPY The Bank of Japan published the minutes of the December 17-18 monetary policy meeting. The only notable thing in it was that some Central Bank members pointed out a moderate weakening of the US dollar against the yen and urged to keep a close eye on the movements in the markets, including the foreign exchange market. The Central Bank should not hesitate to soften policy if pandemic developments warranted it: Some members believe the Bank should analyze the effects of its policy to assess its ability to meet its inflation target; The majority believes that the evaluation of measures taken by the regulator should be based on the assumption that the current political course will continue. Our Analysis: Provided that the currency pair is traded below 103.90, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 103.72 Take Profit 1: 103.60 Take Profit 2: 103.45 Alternative scenario: In case of breakout of the level 103.90, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 103.90 Take Profit 1: 104.05 Take Profit 2: 104.20 Learn More Trading Analysis of S&P 500 Index On Monday, the American stock indices closed with mixed dynamics, at which the S&P 500 and Nasdaq Composite reached record closing levels. The Standard & Poor's 500 rose 13.89 points (0.36%) to 3,855.36 points. Our Analysis: Provided that the index is traded above 3815.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3850.00 Take Profit 1: 3861.00 Take Profit 2: 3900.00 Alternative scenario: In case of breakdown of the level 3815.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3815.00 Take Profit 1: 3785.00 Take Profit 2: 3750.00 Learn More Fundamental Trading Analysis of Citigroup  Like most major banks in 2020, Citigroup faced challenges related to high credit costs and ultra-low rates caused by the pandemic. The bank has also been and continues to deal with regulatory issues related to its internal compliance, data, and risk management. Our Analysis: While the price is above 60.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 61.00 Take Profit 1: 64.00 Take Profit 2: 67.50 Alternative scenario: If the level 60.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 60.00 Take Profit 1: 58.00 Take Profit 2: 54.65 Learn More ‌ ‌ ‌ Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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