Daily Strategy - Geopolitics instead Fundamental for the Forex trading forecasts

World-Signals Team World-Signals

EURUSD (1.2330)
Trend: Neutral
Support/Resistance: 1.2215 - 1.2395
Retail Sales is on focus today as we expect positive report. Also expect today Empire Manufacturing, Business Inventories and Net Long-Term TIC Flows.
The expecting new sanctions against Russia and the escalating conflict in Syria may soon influence over the Dollar therefore we will focus over the geopolitics that may start leading for the Forex markets.
As overall already two months Euro/Dollar is in consolidation process in the levels of 1.2150 and 1.25.
The Dollar may make small gains against the Euro to levels of 1.22 in the next few days. World-Signals.com trading strategy for today is to trade into neutral direction and try to open short positions with gains of 25-40 pips.

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World-Signals Team

World-Signals

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.