Forex Daily Analysis : January 27, 2021

Forex daily analysis on January 27, 2021 discussed the Euro in Wednesday's trading today in the Asian session is expected to weaken against the US Dollar currency. This is due to the action carried out by market participants, this action they carried out by selling their ownership of the Euro currency to buy a safe haven currency, namely the US Dollar. In addition, at noon at 14:00 WIB, the Gfk survey agency will release data on confidence at the German consumer level. On the other hand, as we know, Germany is still under a strict lockdown, due to the increase in Covid-19 patients. While the US dollar strengthened compared to other major currencies, this strengthening was due to concerns about the timing of the launch of the US stimulus which could weigh on market sentiment. This can be seen from the value of the Dollar Index which rose to the level of 90.547. But this strengthening was limited as investors awaited the FOMC meeting and comments from Federal Reserve Chairman Jerome Powell, who is expected to revise fiscal policy in the future. The results of the meeting of the heads of state Central Banks in the United States will be released on Thursday morning, starting at 02:00 WIB. Doubts are beginning to arise about when and to what extent the US$1.9 trillion stimulus package proposed by US President Joe Biden, which is largely sourced from loans, will be passed by Congress as some Republican lawmakers reject the bill. On the other hand, regarding the Corona patients who continue to soar, it is not in line with the release of US economic data which actually describes weakness and far from signs of economic recovery. Therefore, the FOMC meeting in the early hours of the morning is the first Federal Reserve meeting in 2021 and also the first in the era of the leadership of the new US president, Joe Biden. The Fed has pledged to continue to support economic movements in any way possible, therefore it is predicted that low interest rates will remain low and what policy views will be taken to revive the American economy.

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 1.21500. 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 27, 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.