Week ahead December 27th-31st


Pair closed last week’s trading session higher on the lack of any high impact events and any central banks’ comments. Christmas holidays’ low volume and lack of liquidity favored Euro and manages to recover some lost ground in last week’s session. With the Omicron variant treating water between scientist and experts the pair continue to trade higher pricing in a mild omicron variant that has no serious health effects.

As for this week we are continuing to trade into a new year holiday week with low volatility, low liquidity and no high impact economic events. Traders will be focusing only on Governments’ new lock down measures and restrictions, with the travel restrictions most to be affecting due to fast spread of Omicron variant.

On the economic calendar we have only one event on Thursday, US initial jobs claim to remain unchanged at 205K.

Technically, the picture is negative as pair continues to trade below 23.6%. If pair continues to trade on the downside this week and breaks and closes below 1.1190 (0%), will accelerate losses down to 1.1100 Alternative if pair trades on the upside, a close above (23.6%) will change the picture back to neutral and open the road to 1.1450. Our traders are keeping open their long position at 1.1435, 1.1300 and 1.1232 targeting profits above 1.1600 we are expecting more aggressive buyers on the way down and short sellers to appear above 1.1600






Pair closed last week’s trading session firm higher on the lack of any high impact economic events. The pair found some solid ground and traded higher as France announced that Litigation against UK on fishing licenses will be waived in January. As for the omicron spreading UK’s studies show that hospitalizations due to Omicron are fewer compared to delta variant and this boosted sentiment and pushed GBP higher. The approval of Merck’s covid-19 pill was also taken positive from traders.

As for this week traders will be focus on the UK’s rapidly increase of infections and a possible U-turn from Boris Johnson’s decision on adding any new restrictions. PM already warned last week, that after holidays might weigh and decide if more restrictions are needed.

In the economic calendar we have nothing to follow on the GBP side. On the US side on Thursday, the US initial jobs claim to remain unchanged at 205K.


Technically the pair is neutral after last week’s break higher and closed above 23.6%. In this week’s trading session if pair continues on the upside and breaks and close above  38.2%  will open the road to 1.3500, alternatively, if resumes downside and close below (23.6%), will change the picture back to negative and open the road down to 1.3200 Our traders kept open their long positions at 1.3546, 1.3412 and took profit the 1.3200 position, with the remaining targeting profits at 1.3600 we are expecting new buyers on the way down and short sellers above 1.3500




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


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