Forex Daily Analysis : February 25, 2021

The daily forex analysis on February 25, 2021 this time discusses the EURUSD which in yesterday's trading moved stronger against the Euro currency, this strengthening is due to the optimism of market participants about the release of German GDP economic data for the fourth quarter. It turns out that investors' predictions and confidence in the German GDP data have come true, because the data released is good, which is 0.3%. The data was better than the prediction of only 0.1% and from the previous quarterly data of 0.1%. However, for today's trading, Thursday, February 25, 2021, the EURUSD movement is predicted to have the opportunity to weaken for the Euro currency, it is estimated that this weakness will occur in the short term. The US dollar weakened again against several other major currencies. The weakening of the United States currency occurred because in the second speech by the head of the US central bank Jerome Powell still maintained a "dovish" attitude. In his speech on the second day of Wednesday, February 24, Powell also discussed the growing rumors about the US dollar currency in digital form. He stated that in the future, special supervision and authorization will be needed by the central bank in the development and implementation of the digital US Dollar currency. In addition, Powell hopes that this year can be the most important year for the development of the digital greenback currency. Fed Chairman Jerome Powell also reiterated that the central bank will maintain its economic policy until there are clear signs of economic improvement and in line with expectations. The benchmark is still the same as before, which will be seen from the increase in the short-term inflation rate. Powell's statement was not too different from the speech the day before. As we know, Powell gave an accountability report before the House Financial Services Committee for the second day, where he had also given his speech on the first day before the Senate. On the other hand, investors also continue to shift their investments to other risk assets, this is due to the hope that global economic conditions will soon recover. This is reflected in the rapid and targeted distribution and vaccination of Covid-19 carried out by most countries in the world. In addition, there will be plans to launch fiscal stimulus packages by several central banks in the world. The latest news regarding the Covid-19 vaccine, a study conducted by Israel has shown about the vaccine doses given. With 2 doses of the vaccine made by Pfizer Inc./ BioNTech SE Covid-19, it has succeeded in reducing the symptoms of Covid-19. The percentage of success reaches 94% in all groups of different ages. The results of this study have also been published and reviewed in the New England Journal of Medicine on Wednesday local time.

Forex Daily Analysis Predictions 

Today's FOREX prediction on the EURUSD pair is expected to strengthen/rise and the recommended OP (Open Position) is BUY at the level of 1.21750. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
This the daily analysis of forex on February 25, 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.