Forex Daily Analysis : February 18, 2021

Today's forex daily analysis on February 18, 2021 discusses the Euro which moved very volatile in Wednesday's trading. Previously, the Euro strengthened quite well and convincingly, but again weakened and declined sharply. The euro is expected to still weaken due to the strength of the US Dollar which makes other major currencies weaker. The main focus of investors is the agenda of the ECB meeting and the Fed's statement which will be an event to watch in the near future. This is because investors will project the results of the agenda, whether the wheels of the economy can move and also regarding the central bank's policy related to the fiscal stimulus plan. Meanwhile, the US dollar is still moving higher in Asian session trading, Thursday, February 18, 2021. This strengthening is supported by US data that was released positively, this will signal increasing hopes that the United States will soon be able to rise and is expected to be faster than other countries in the world affected by the Covid-19 pandemic. The US economic data released and made the Greenback even stronger is, Core Retail Sales (Core Retail Sales) at 5.9% was released far above the prediction of only 1.1% and in the previous period was only -1.8%. As for other economic data, retail sales (Retail Sales) in the release grew 5.3%, far above the prediction of 1.5% and the previous period -1.0%. On the other hand, regarding the proposed US$1.9 trillion fiscal stimulus package, President Joe Biden on Wednesday met with labor leaders who were useful to seek support from them. Meanwhile, the Federal Reserve is also releasing the results of their meeting, which will essentially make the American economy start to move and grow after the Covid-19 pandemic, in addition to that, the central bank will also maintain its monetary policy and interest rates at the lowest level until an indefinite deadline.

Forex Daily Analysis Predictions

Today's FOREX prediction on the EURUSD pair is expected to weaken/fall and the recommended OP (Open Position) is SELL at the level of 1.20300. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the analysis of the gold daily on February 18, 2021. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.