Date : 22-01-2021

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Forex Market Insight

International Currency Buzz

Economic Calendar

GBP/USD Daily Chart

EUR/ USD Daily Chart

Daily Candlestick

EUR/USD

GBP/USD

The Pound US Dollar exchange rate remained just above the $1.37 level today as the pairing re-

mains strong on President Joe Biden’s first full day in office.

The US Dollar was down today as the new administration enjoys its first day in office.

With President Joe Biden expected to announce a $1.9TRN stimulus package to aid the damage of

the corona virus pandemic, risk-correlated currencies cheered as risk appetite increased and de-

mand for the safe-haven was down.

It’s expected that, if passed, rising federal government spending will lead to a wider U.S. budget

deficit and higher inflation.

The US Dollar was slightly supported today as the number of Americans filing for unemployment

declined to 900 thousand in the week ended January 16th, beating forecasts yet still well above

pre corona virus pandemic levels.

.

While markets expect the Eurozone’s coronavirus restrictions to last a while, the Euro US Dollar

(EUR/USD) exchange rate is benefitting from overall market sentiment today. Optimistic develop-

ments this week are dampening safe haven demand.

After opening this week at the level of 1.2075, EUR/USD briefly slipped to a month and a half

low of 1.2055.

Since then though, EUR/USD has been attempting a recovery rebound. A dip on political uncer-

tainty was short-lived yesterday, and EUR/USD is currently trending near the level of 1.2145 –

over half a cent above the week’s opening levels. If these stats impress, there is a good chance the

Euro to US Dollar exchange rate will end the week higher.

Demand for the US Dollar remains weak, as investors are more eager to take risks due to rising

US fiscal policy hopes and the global recovery outlook.

This alone makes the chances of further EUR/USD gains quite good.

Date : 22-01-2021

DAILY I-FOREX REPORT

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ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Iforex Market Insight Report By Epic Research Singa-

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Date : 22-01-2021

DAILY I-FOREX REPORT

EUR/USD DAILY CHART

GBP/USD DAILY CHART

BUY GBPUSD AT 1.3720 TGT 1.3770 1.3820 SL 1.3670

SELL GBPUSD AT 1.3670 TGT 1.3620 1.3570 SL 1.3720

BUY EURUSD AT 1.2180 TGT 1.2230 1.2280 SL 1.2150

SELL EURUSD AT 1.2115 TGT 1.2060 1.12010 SL 1.2165

Iforex Market Insight Report By Epic Research Singa-

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Date : 22-01-2021

DAILY I-FOREX REPORT

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Date : 22-01-2021

DAILY I-FOREX REPORT