TEHRAN (Iran News) –It’s was a quiet start to the week on the economic calendar this morning. There were no material stats for the markets to consider in the early part of the Asian session.
The EUR/USD has completed a bearish wave C and is now preparing for a bullish ABC towards 1.22-1.23. The GBP/USD is also looking bullish and is expected to aim at Wizz 7 level near 1.3860. The EUR/USD is expected to move up towards 1.21 to complete a wave A before building an ABC lower within wave B. A bullish bounce should confirm the start of a bullish wave C.
The GBP/USD made a strong bullish bounce at the 233 ema close. A bullish continuation is now also expected. A bearish pullback could offer an opportunity for a potential long setup.
At the time of writing, the Japanese Yen was down by 0.08% to ¥105.47 against the U.S Dollar, with the Aussie Dollar down by 0.07% to $0.7673. The Kiwi Dollar was up by 0.01% to $0.7199.
For the EUR
It’s a relatively quiet day ahead on the economic calendar.
German industrial production figures for December are due out ahead of the European open.
Following some dismal factory order figures, disappointing industrial production figures will weigh on the EUR.
Later tonight ECB President Lagarde is scheduled to speak. Expect any chatter on the economic outlook and monetary policy to also influence.
During the ECB Press Conference, Lagarde had taken a more cautious stance as a result of extending lockdown measures.
At the time of writing, the EUR was down by 0.08% to $1.2036.
For the Pound
It’s a quiet day ahead on the economic calendar. There are no material stats due out of the UK to provide the Pound with direction.
The lack of stats will leave the Pound in the hands of COVID-19 news updates and market risk sentiment on the day.
At the time of writing, the Pound was down by 0.04% to $1.3730.
Across the Pond
It’s a quiet day ahead on the economic calendar.
There are no material stats to provide the U.S Dollar with direction. The lack of stats leaves the market focus on Capitol Hill.
At the time of writing, the Dollar Spot Index was up by 0.05% to 91.089.
For the Loonie
It’s also a quiet day on the economic data front, with no material stats to provide the Loonie with direction.
The lack of stats will leave the Loonie in the hands of market risk sentiment on the day.
At the time of writing, the Loonie was down by 0.07% to C$1.2765 against the U.S Dollar.
- source : FXEMPIRE