Forex Daily Analysis : January 26, 2021

The daily forex analysis of January 26, 2021 will discuss the Swiss franch currency has moved in recent days experiencing dynamic volatility, this is due to global political turmoil and the domestic situation of Switzerland itself. From these volatile movements, it can be concluded that the Swiss currency tends to strengthen when compared to the US Dollar. As we know that Switzerland is one of the best economically, politically and Covid-19 pandemic sufferers compared to other countries in the world. In addition, as we also know, the condition of the US Dollar also affects the strengthening of the Swiss franch. Ahead of the planned 2-day meeting between the heads of state central banks in the United States, which will start on Tuesday - Wednesday local time, the greenback's movement has strengthened. Market participants predict that there will be no changes regarding its monetary policy. The FOMC meeting is also expected to remain unanimous on the decision to maintain interest rates in the range of 0% - 0.25%. On the other hand, the monthly bond purchase rate is expected to remain in the range of $120 Billion/month. Investors' attention is focused on the economic outlook that will be delivered by the chairman of the Fed. At the previous meeting in December 2020, FOMC members had agreed to maintain their low interest rates until 2023. This week the United States will release quite a lot of economic data, including the Advanced GDP in the 4th quarter. This data is expected to show that the outlook for economic recovery in 2021 is below standard. This is due to a significant increase in Corona virus cases which has forced several countries in Europe and Asia to reimpose strict lockdowns. In addition, the Democratic Party's previous victory in the second round of Senate elections in Georgia, held in early January, has given Democrats full control of Congress. Although the victory further raises investors' hopes that the US $1.9 trillion stimulus package that has been proposed by President Joe Biden will be smooth to approve. But as we know in Congress there are still Republican representatives who are sure to oppose the plan.

Forex Daily Analysis Predictions

Today's FOREX prediction on the USDCHF pair is expected to strengthen/decline and the recommended OP (Open Position) is SELL at the level of 0.88700. 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 26, 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.