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  • 🇩🇪 GfK Consumer Confidence (FEB) Actual: -15.6 Expected: -7.9 Previous: -7.5 https://www.dailyfx.com/economic-calendar#2021-01-27
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  • Heads Up:🇩🇪 GfK Consumer Confidence (FEB) due at 07:00 GMT (15min) Expected: -7.9 Previous: -7.3 https://www.dailyfx.com/economic-calendar#2021-01-27
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  • Outside of GameStop and other activist driven stocks, risk markets seem to be struggling for direction. Maybe the Dow and EURUSD will draw direction from the growth forecasts, the FOMC rate decision and key earnings (like TSLA and AAPL). My analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/01/27/Dow-and-Dollar-Steel-for-FOMC-Top-Earnings-and-Growth-Fight-Against-Speculative-Control.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/SqdH9JM6Pu
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in GBP/USD are at opposite extremes with 69.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OeorJgLIJx
  • #DXY carving out a Head and Shoulders pattern suggests that the #USDollar is at risk of extended losses in the near term Clearing range support at 89.95 - 90.05 is needed to validate the pattern, with the measured move implying a push to fresh yearly lows is on the cards $USD https://t.co/fGAQwamrWU
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USD/CAD-Watch Channel for Resistance Again

USD/CAD-Watch Channel for Resistance Again

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD-Watch Channel for Resistance Again

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-The last update noted that “a move back into the channel would suggest that trade in recent weeks was some sort of a ‘blow-off’ top.” USD/CAD has traded back into the channel, which suggests that suspicions of a blow-off top were correct. The implication is that USD/CAD has topped and is heading lower.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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