The daily forex analysis of January 29, 2021 will discuss the Australian Dollar versus the Greenback, which is expected to continue its weakness. This has an impact on the strength of the US Dollar compared to other major currencies. In addition, market participants are again selling several currencies that are categorized outside of safehaven currencies, and the Australian dollar is a non-safehaven currency. In addition, the Ausralia economic data this morning has been released, namely PPI and Private Sector Credit, although it was released well from the previous data, but it has not been able to withstand the weakening of the Aussie against the US Dollar. The US dollar strengthened in Friday morning trading in the Asian session and continued to stay above the 90 level, the US dollar's strength was boosted by an increase in higher US Treasury yields. In addition, market participants are still waiting for the realization of the planned stimulus relief package that has been promised by the US president-elect Joe Biden. This is due to concerns that the proposed US$1.9 trillion aid will not match the expected amount. Although the US dollar strengthened this morning, analysts expect the greenback to still be in a weakening trend. "The high expectations of the issuance of debt securities and the unleashing of a large stimulus package are seen as factors that could weaken the US dollar further," said Michael McCarthy, chief strategist at CMC Markets in Sydney.

Forex Daily Analysis Predictions

Chart AUDUSD analisa harian 29-01-2021 Today's FOREX prediction on the AUDUSD pair is expected to weaken/fall and the recommended OP (Open Position) is SELL at the level of 0.76400. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points.
Preference BEARISH
Target Profit 1 0,76300
Target Profit 2 0,76200
Stop Loss 1 0,76450
Stop Loss 2 0,76500
This the daily analysis of forex on January 29, 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.