Focus on Yellen’s Testimony

Dear traders,

The U.S. dollar retreated ahead of U.S. Treasury Secretary-designate Janet Yellen Senate confirmation hearing later today. Yellen is expected to affirm the U.S.’s commitment to a market-determined dollar value and her comments may serve as a fresh catalyst for the greenback, giving the green light for the dollar’s long-term downtrend.

EUR/USD: The euro found a halt at 1.2050 from where prices reversed. As written in our analysis from Monday we now see a next resistance at around 1.2150.

GBP/USD: The pound broke below 1.3530 but the downward move was not sustained as the greenback’s momentum ebbed. This morning we see the cable again above 1.36 and pencil in potential further gains towards 1.3640.

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Long @ 1.2120

Short @ 1.2035


Long @ 1.3630

Short @ 1.3565

DAX® (GER30)

Long @ 13980

Short @ 13870


Results 2020:

December 2020: +318 pips

November 2020: +75 pips

October 2020: +432 pips


We wish you good trades!

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