Note

Daily Forex Analysis Today (04 Jan 2021) with LCMS Traders

Verified Person
· Views 416

#OPINIONLEADER#

In today's currency Gimmy discusses the upcoming FOMC Meeting coming up at 03:00 GMT+8 this Thursday, DXY analysis and US Economic News for today and tomorrow and the EUR analysis including trade ideas.


Time stamps for today's episode:


FOMC Meeting preview with Gimmy: 03:17


DXY analysis with Scotty: 08:57


EURUSD chart analysis with Gimmy: 12:44


EURGBP chart analysis: 21:14


EURUSD selling off here entry was 1.1290 as mentioned earlier in today's currency call, with a 30 pip stop loss and 60 pip take profit. At 23:00 GMT+8 tonight there is the ISM Manufacturing PMI (Dec) if it comes in as expected or slightly above this could offer a buying catalyst for the USD and offering more selling pressures for the EURUSD. If this initial entry at 1.1290 was missed a sit and wait approach if price can break through the recent lows of 1.1270 is my thought with a 20 pip stop loss and 40 pip take profit. EURGBP still holding below the 0.8400 resistance level, the entry was mentioned at 0.8370 using a 50 pip stop loss and 200 pip take profit or even more if price action shows further weakness to the 0.8080 support level with a longer term bearish thesis in place for the EUR against the GBP.




Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Support
Total 100 FCOIN reward
avatar

Hot

thank you
Verified Person
FxScotty
Author
🙂

-THE END-