Forex Daily Analysis : January 19, 2021

The forex daily analysis for January 19, 2021 currently discusses the EURUSD currency movement ending sideways at the close of trading last Monday (January 18, 2021), although the strengthening of the US Dollar is still occurring. Hopes are high for economic recovery in the eurozone, after several eurozone finance ministers at their meeting promised to provide additional fiscal stimulus support. The additional stimulus will be distributed in their respective countries. The meeting of finance ministers took place in Brussels on Monday (January 18, 2021) yesterday. In addition, the meeting also discussed the Eurozone economic recovery plan after the crisis, this is an attitude to the European Union's warning about the worsening economic imbalance in the Eurozone due to the Corona pandemic. At the meeting, it was agreed on a stimulus amount for Covid-19 relief funds of 750 billion euros to be used jointly by all eurozone member states. The planned stimulus amount of the aid package is also expected to reform funding and investment for the 27 member states that join the European Union, and is expected to boost economic growth potential and can also help to avoid a larger debt buildup in the country members of the Eurozone. The US Dollar currency is still moving near its highest level in almost 1 month. Market participants are hoping for the new US Treasury secretary candidate, Janet Yellen, to further affirm her more professional commitment to the value of the currency set by the market when she is inaugurated on Capitol Hill. Meanwhile, President-elect Joe Biden will be ready to lead the US Treasury and is ready to make the US currency not weaker compared to the previous leader. Because as we know that Trump often comments on the strengthening of the Greenback. At the beginning of 2021, the US Dollar currency has been supported by the increase in the yield of the 10-year US Treasury on Joe Biden's plan and promise to disburse a Covid-19 pandemic relief package worth US $1.9 trillion.

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 1.21000. 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 January 19, 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.