Morning review for EUR/USD on January 28, 2021



It seems that the Fed meeting on Wednesday did not affect the market in any way, but this is not true. The euro was under selling pressure throughout the day yesterday, which is caused by the outcome of the Fed's meeting. As we can see, a strong rebound to the top did not succeed.

Today, there will be a possible downward movement and/or an upward reversal at 13:30 UTC+00, depending on the US data and how the market will react to it.

On the one hand, the Fed announced that it will continue providing $ 120 billion into the U.S. economy per month and according to the classics, this is clearly against the US dollar. But at the same time, if such money injection leads to good economic growth, it will make the United States a more attractive place to invest in the same corporate bonds compared to Europe.

Trading tips:

It is suggested to buy from the level of 1.2180 and maintain sales from the level of 1.2105.

The material has been provided by InstaForex Company -