Pair closed last week’s trading session firm higher on FED’s dovish move. The Fed has announced the extension of its bond-buying program beyond 2021 and highlighted that lower rates are here to stay. Another fundamental supporting the continuing devaluation of US Dollar is the pending approval of a pandemic stimulus package from the US Government, comments from both the democratic and republicans, saying that they are very close to approval, has pushed the US Dollar even lower. On the other hand, the European area has shown some outperforming economic indicators last week and this resulted in a stronger Euro.

Going into this week traders will focus on the US fiscal stimulus deal and on the approval of Moderna’s vaccine by the FDA. Traders should closely monitor the increasing cases of covid-19. While Austrian is entering its 3rd full locked down, many other EU countries may follow and this will result in weaker Euro.

On the economic calendar we have on Monday, European consumer confidence with expectations to remain unchanged at -17.6 On Tuesday, German Gfk consumer confidence expected lower at -9.5 and US Gross domestic product unchanged at 33.1% On Wednesday, US core personal consumption expenditure expected higher at 1.5% On Thursday US Durable goods expected lower at 0.6%

Technically, the picture is positive. Pair traded higher registering new multiyear high levels. In this week’s trading session if the pair trades on the upside and breaks above 1,2270 gains will be accelerating with next level in focus the 1.2370 Alternative a rejection and close below 1.2270 may resume downside and test 1.2115 (23.6%) as first reversal point. Our traders are waiting for a pullback around 1.2115 before starting buying the pair and targeting profits at 1.2270.




Pair closed higher last week’s trading session on hopes of a positive Brexit negotiation outcome. Both sides sent positive comments that are very close to a last-minute deal. During the weekend the 2 sides are meeting in order to strike a deal before Sunday midnight. Apart from Brexit outcome, the upside move in the pair was supported by the US Dollar devaluation on FED’s dovish fiscal path and on hopes of the approval of an additional pandemic support package.

As for this week, traders will focus mainly on the Brexit negotiation’s outcome, as during the weekend talks will take place in order to break the differences between the 2 sides and finally strike a deal. In addition, the US aid package approval may push the pair even higher.

In the economic calendar, we have only one event on Tuesday, Gross domestic product with expectations to remain unchanged at 15.5%


Technically the pair is positive after last week’s sharp reversal on the upside. In this week’s trading session if pair continue on the upside, we are expecting as next level 1.3600 Alternative if pair resumes downside move, the first level to be retested is 1.3016 (23.6%) Our traders started selling the pair at 1.3500 targeting profits at 1.3016. We are expecting buyers to appear around 1.3016 targeting profits at 1.3500 and short sellers to continue selling on the way up.



For more detail economic calendar events please visit our live economic calendar on:

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