The daily forex analysis of January 11, 2021 will discuss the single currency of the eurozone country which moved weaker against the US dollar in Monday trading earlier this week. This weakness was caused by the poor economic data of the eurozone that was released, namely the decline in Germany's trade balance in November. For today, investors' focus will be on the release of Sentix Investor Confidence data for the Eurozone at 16:30 WIB, and the speech of European Central Bank (ECB) President "Christine Lagarde" at 21:40 WIB. The greenback's strength surprised the market, as the release of NFP data and the monthly unemployment and hourly wages were terrible. The driver of the strengthening of the US Dollar is the increase in the value of US securities (bond yields) for 10-year tenors which increased by around 1.1%. In addition, expectations of a deterioration in the US economy in the first quarter of this year were strengthened, following the release of negative Non-Farm Payrolls data in December. As a result, market participants sold safe haven assets in the form of gold to get cash. This investor activity caused the US Dollar index to rebound from its weakness. On the other hand, the US President-elect "Joe Biden", stated that he would immediately prepare fiscal stimulus programs in the near future. The stimulus plan will be announced on Thursday this week. If these aid and stimulus programs are approved, it will result in a weakening of the US Dollar.

Forex Daily Analysis Predictions

chart EURUSD analisa harian 11-01-2021 Today's FOREX prediction on the EURUSD pair is expected to decline and the recommended OP (Open Position) is SELL at the level of 1.21600. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
Preference BEARISH
Target Profit 1 1,21500
Target Profit 2 1,21400
Stop Loss 1 1,21650
Stop Loss 2 1,21700
This the daily analysis of forex on January 11, 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.