Please disable Ad Blocker before you can visit the website !!!


by SignalFactory   ·  January 22, 2021 | 09:21:46 UTC  


by SignalFactory   ·  January 22, 2021 | 09:21:46 UTC  

EUR/USD eases towards 1.2150, as the US dollar bounce gathers pace amid souring market mood. Markit´s preliminary PMIs for January are set to show a robust manufacturing sector and struggling services one. The ECB stood pat but sounded more upbeat on the economy.

EUR/USD is showing resilience to losses in stock markets, with investors eyeing key data releases, which are expected to show a continued expansion of the manufacturing sector in Germany and across the Eurozone.

At press time, the pair is trading at session highs near 1.2175, representing a 0.12% gain on the day. The anti-risk greenback is struggling to draw bids, keeping EUR/USD bid despite the 0.37% decline in the S&P 500 futures and the pullback in the major Asian stock market indices.

Expectations for generous US fiscal spending under Joe Biden’s presidency look to be overshadowing the risk-off tone in stocks and keeping the dollar under pressure.

Focus on PMIs
The preliminary German Manufacturing Purchasing Managers’ Indices (PMI) is seen falling to 57.5 in January from December’s 58.3. A reading above 50 indicates expansion.

In other words, the data, due for release at 08:30 GMT, is expected to show continued expansion in the activity despite the coronavirus-induced lockdown restrictions. The broader Eurozone PMI is forecast to paint a similar picture.

EUR/USD will likely extend gains if the data prints in line with estimates or beats expectations.

The European Central Bank’s all talk and now walk approach on the exchange rate is another factor that favors a continued rise in the single currency. On Thursday, President Lagarde avoided any direct criticism of the currency, saying only that FX appreciation is a drag on inflation, as noted by BK Asset Management’s Kathy Lien.

Apart from PMI figures, the new US President Joe Biden’s speech at 19:45 GMT could inject volatility into the currency markets.

EUR/USD Long (Buy)
Enter at: 1.22277
T.P_1: 1.23506
T.P_2: 1.26934
S.L: 1.20590

All information on this website is of a general nature. The information is not adapted to conditions that are specific to your person or entity. The information provided can not be considered as personal, professional or legal advice or investment advice to the user. This website and all information is intended for educational purposes only and does not give financial advice. Signal Factory is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities. Signal Factory does not offer, operate or provide financial, brokerage, commercial or investment services and is not a financial advisor. Rather, Signal Factory is an educational site and a platform for exchanging Forex information. Whenever information is disclosed, whether express or implied, about profit or revenue, it is not a guarantee. No method or trading system ensures that it will generate a profit, so always remember that trade can lead to a loss. Trading responsibility, whether resulting in profits or losses, is yours and you must agree not to hold Signal Factory or other information providers that are responsible in any way whatsoever. The use of the system means that the user accepts Disclaimer and Terms of Use. Signal Factory is not represented as a registered investment consultant or brokerage dealer nor offers to buy or sell any of the financial instruments mentioned in the service offered. While Signal Factory believes that the content provided is accurate, there are no explicit or implied warranties of accuracy. The information provided is believed to be reliable; Signal Factory does not guarantee the accuracy or completeness of the information provided. Third parties refer to Signal Factory to provide technology and information if a third party fails, and then there is a risk that the information may be delayed or not delivered at all. All information and comments contained on this website, including but not limited to, opinions, analyzes, news, prices, research, and general, do not constitute investment advice or an invitation to buy or sell any type of instrument. Signal Factory assumes no responsibility for any loss or damage that may result, directly or indirectly, from the use or dependence on such information. All information contained on this web site is a personal opinion or belief of the author. None of these data is a recommendation or financial advice in any sense, also within the meaning of any commercial act or law. Writers, publishers and affiliates of Signal Factory are not responsible for your trading in any way. The information and opinions contained in the site are provided for information only and for educational reasons, should never be considered as direct or indirect advice to open a trading account and / or invest money in Forex trading with any Forex company . Signal Factory assumes no responsibility for any decisions taken by the user to create a merchant account with any of the brokers listed on this website. Anyone who decides to set up a merchant account or use the services, free of charge or paid, to any of the Forex companies mentioned on this website, bears full responsibility for their actions. Any institution that offers a service and is listed on this website, including forex brokers, financial companies and other institutions, is present only for informational purposes. All ratings, ratings, banners, reviews, or other information found for any of the above-mentioned institutions are provided in a strictly objective manner and according to the best possible reflection of the materials on the official website of the company. Forex trading is potentially high risk and may not be suitable for all investors. The high level of leverage can work both for and against merchants. Before each Forex investment, you should carefully consider your goals, past experience and risk level. The opinions and data contained on this site should not be considered as suggestions or advice for the sale or purchase of currency or other instruments. Past results do not show or guarantee future results. Neither Signal Factory nor its affiliates ensure the accuracy of the content provided on this Site. You explicitly agree that viewing, visiting or using this website is at your own risk.

Signal Factory is now on Telegram

make sure to join our Telegram channel now and you will not miss any update