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Monday, January 25, 2021

Commerce concepts thread – European session 13 January 2021

Day by day thread to trade concepts and to share your ideas

Main currencies are little modified on the day after we noticed turnaround Tuesday play out in what has been a blended begin to the brand new weeks thus far.

WCRS 13-01

The greenback eased whereas Treasury yields fell just a little after a stronger public sale and in addition because the Fed tempered with taper expectations a bit after current remarks had gotten hopes up {that a} change in coverage stance might come by way of later within the yr.

From a technical perspective, the greenback strikes current a little bit of a problem for greenback consumers after the current push increased.

EUR/USD is now again as much as take a look at its 100-hour shifting common @ 1.2211 whereas AUD/USD has moved up above each its key hourly shifting averages (0.7736-41) to 0.7760-70.

In the meantime, USD/JPY did not breach its key trendline resistance ranges above 104.00 and has retreated again beneath the determine stage and beneath the 100-hour shifting common @ 103.94, now buying and selling to 103.70 forward of European buying and selling.

In brief, the greenback run has misplaced some near-term momentum after having did not clear key ranges on the every day chart and the market has to reevaluate as soon as once more.

The pause in yields could also be warranted however with the shortage of observe by way of from the short-end of the curve, there are nonetheless inquiries to how sustainable the current breakout could be – likewise, any potential for the greenback to proceed to strengthen.

What are your views available on the market proper now? Share your ideas/concepts with the ForexLive neighborhood right here.

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