Trade Set up on EURUSD, GOLD, GBPUSD, USDCHF, DE30 for 18-22 January 2021

Good morning, good morning, good morning everyone. My name is Simon and I will be taking us on the Monday market review for this week. If you can hear me, let me quickly get our yes in the chat box so we can start as soon as possible. If you can hear me, let me get a yes, yes, yes, and then we can start. Okay, from Mr. Jerry, he said yes, I can hear you. Mr. Chukwuma said good morning. Good morning. Thank you, thank you, thank you everyone. Augustine Victor, good morning. Mr. Kano, good morning. Mr. Michael, good morning. Also Anglican Church. Oh, that's fine. So we have the church attending this morning too. That's really beautiful having also Anglican Church join us for today's Monday Markets Review. Um, so since we can all hear me, uh, let's, um, kick off today's analysis by checking out, um, Forex Factory for the major economic event that we'll be looking out for to give us some insight as to what some traders will be taking advantage of this week. Okay, so today is January 18th, being Monday. So early hours of today, that's as at 3 AM today, GDP quarter by year was released from China, and the data showed that the country China has been able to record some growth despite the impact of coronavirus around the world, and that's, that's actually a very good boost. the global economy. If China can do it, it means that every other nation around the world can also emulate China, and they'll be also able to put up a very good fight to defeat coronavirus and then stimulate the economy very, very soon. And then there is an all-day bank holiday in the United States, um, so United States will be on holiday today, so we'll be expecting liquidity on, um, the dollar. So the that will be, um, seeing liquidity on the dollar today because of the bank holiday in the United States. So by 2:30 PM today, to be the turn of, um, the speech by Bank of England's governor, that's, uh, Bailey. So Bailey will be speaking by 2:30 PM. So those of us that will be trading the cable, we have to be on the lookout for the speech by the Bank of England governor. By 2:30 p.m. today. For tomorrow, there's no major economic event, but I would want us to still look out for the ZEW economic sentiment and the German ZEW economic sentiment. The ZEW economic sentiment covers the entire zone, while the German ZEW economic sentiment will be looking at the economy of Germany. And Germany being the powerhouse of the eurozone will give us a very clear, good clue As to the happenings in the Eurozone. Okay, so I have a question here from Mr. Yilabo Oshinon. He said, can one come to Raleigh office today? Yes, all offices are open for training, but I would encourage us to use our face mask when we are coming because we will not be allowed into the premises if we don't have our face mask on. So let's use our face mask and it's when coming around to our training facilities. Our offices in Ibadan, Lagos, Port Harcourt, and Abuja are open for training. So we are very welcome, but our face mask is very important when coming over to the office. Okay, and by Wednesday, uh, we'll be starting off by 2:30 PM with the Consumer Price Index month by month from Canada. Uh, the CPI is a very good indicator for the central bank and in this case, the Bank of Canada, to decide whether to increase or keep constant the interest rate. It's the primary measure of inflation within the economy, and it should be a precursor to the monetary policy reports, the rate statements, and then the overnight rate that we'll be expecting by 4 PM same day. Inasmuch as we'll be expecting the overnight rate to be kept constant, so the Bank of Canada will not either increase or reduce interest rates. That's the overnight rate. But we need to pay more attention to their monetary policy report and then the rate statement from Canada. Uh, what's the view of the Bank of Canada about the economy of Canada? Uh, what's their own economic outlook? They see the economy of Canada recovering within the shortest possible time. So it should be, uh, by that 4 PM on Wednesday that we'll get to know, um, the outlook of the Bank of Canada on the Canadian Economy. Few moments after the rate statement, the press conference by the Bank of Canada will also take place. That will be around 30 minutes after the rate statement is made available. The head of the Bank of Canada will be addressing the press, so we'll be entertaining questions, and a lot of volatility will be expected. On the Luni Pier as at that time. So starting from 4 p.m. till very close to 5 p.m. on Wednesday, we'll have the opportunity to take advantage of a lot of movement expected on the Luni Pier. By 6 p.m., for those of us that trade the cable, would be the turn of the Bank of England Governor Bailey speaking once more. So he's speaking today, and then on Wednesday he would. also speak. Okay, so Mr. David is asking here that what will be the effect of the US holiday— that's the holiday today— on EUR/USD. Will it be a buy or a sell? Well, one cannot just give a direct answer on that due to the holiday. What one would only know is that the bank holiday is going to affect liquidity because when banks are on holiday, banks are the major push for liquidity in the economy. And when there are no liquidity, that means liquidity on that particular currency will be thin for that day. So there might be some sharp movement in the market as a result of low liquidity in the markets. Will it be to the buy side or to the sell side? It depends on the market happenings at such points, but some sharp moves might be noticed in the markets today as a result of the thin liquidity due to bank holiday in the United States. And, uh, the all-important event will also be taking place on Wednesday as, um, the US President-elect Joe Biden will be sworn in on Wednesday. And in recent times, this will be the most guarded ceremony, uh, due to the current situation in the United States. We've seen that Outgoing President Donald Trump is not willing to really relinquish power because he feels he was cheated out of the last presidential election. So this swearing-in ceremony will not be like every other one that we've witnessed in recent time. Looking at even when President Trump was sworn in, when President Barack Obama was also sworn in, a lot of fanfare. that followed such events, but we are not going to witness such funfair this time around. Looking at the state of outgoing President Donald Trump, coronavirus, and then a lot of controversies surrounding the elections in the United States, as well as some protests that might also ensue if people are allowed to gather around Washington. During the swearing-in ceremony. So after the swearing-in, we expect the president-elect, who at that time become the president of the United States, that's Joe Biden, to also speak. So his speech is expected to give a lot of clarity to some of the objectives of his administration because he's going to share with us some of the things he plans to achieve with the $1.9 trillion stimulus that he's planning to give to individuals, businesses in the United States when he finally becomes the President of the United States, and some other plans he'll be having for the United States economy to recover as fast as possible from the impact of coronavirus. And one of the team members of President-elect Joe Biden is the former Federal Reserve Chairman, that's in person of Janet Yellen. Janet Yellen will be serving as Treasury Secretary to Joe Biden. And when, if we can recall, when Janet Yellen was the Fed Chair, we could see the dollar actually gaining some strength during that period. So with Janet Yellen, Powell, and then Joe Biden working towards stimulating the economy, so it's possible for the United States economy to be able to recover as fast as possible. Due to the effort of these 3 key people are working on getting the economy back on track as fast as possible. Um, so Mr. Patrick, um, okay, so from Apple to Everyone, okay, so it's from Apple to Everyone, said, is the holiday going to affect gold on buy or sell? Um, just like I answered the last time on dollar. Uh, one cannot just say because there's holiday, then this is what we are expecting to happen directly on any of the currencies or the commodity one will be trading, that maybe it's going to be a buy or a sell. It depends on reaction of investors towards the holiday. But what we know is that there will be thin liquidity as a result of the holiday, and if there's thin liquidity, we might witness some very sharp move. on the US dollar. And because the price of gold is also quoted in dollar, so we might also see the impact slightly also playing out on the commodity gold. Okay, so Mr. Patrick is asking that what do I think will be the impact of the transfer from Trump to Biden, especially with the security concerns? So security concern is just the major thing going into The inauguration on Wednesday, but I think with the National Guard on ground at in Washington, so that should be able to down some of the tension around and movements in and around Washington will be well monitored ahead of Wednesday. Not just on Wednesday, even up until Thursday because they will not want to take any chances going. Into this swearing-in ceremony on Wednesday. So they are trying to get all things right ahead of Wednesday. So all hands will be on deck to be able to ensure a very successful swearing-in ceremony on Wednesday. Well, as much as fresh security concerns are not raised ahead of. the swearing-in ceremony. So the swearing-in ceremony should be very successful as we are looking forward to it. And, um, with a lot of investors looking forward to having Biden as the President of the United States, we might see the dollar gaining strength, um, en route to Wednesday. So some strength in the dollar is expected towards Wednesday when the swearing-in ceremony will eventually hold. On Thursday, we'll start with, um, the Australian dollar. That's employment change and unemployment rates by 1:30 AM. So the employment change measures the total number of persons employed in Australia in the month under consideration, with a forecast of 50,000 individuals, um, or 50,000 employments have been created in the month under consideration in Australia. So any figure higher than 50,000 is going to give some strength to um, the Aussie, that's the Australian dollar. And then for unemployment rates, the last time, uh, we're able to have the figures stand at 6.8%, but with a forecast of 6.7%, it's showing for us that economists are expecting the actual this time around to be around the 6.7%, at least better than the previous, which was 6.8% we had at the last release of unemployment rate. So any figure better, any figure around 6.7, that's lower than 6.7%, will further support the Australian dollar. And a tentative event, um, on Thursday is the BOJ report. Okay, so Mr. Fijabi Emmanuel is raising his hand. So if you have any question, please kindly drop your question in the chat box. So I quickly affirm to it as I continue with the major events we're expecting for this week. Mr. Emmanuel, if you can hear me— okay, I think you've dropped your message. Let me check. Okay, so Favor to Everyone said, yeah, you just joined. Yeah, you are welcome. Is it madam or Mr. Favor? You are welcome. You are very welcome to today's Monday Markets Review. So BOJ Outlook Report, that's the Bank of Japan Outlook Report, is currently a tentative event even though it's going to hold on Thursday. The Bank of Japan has actually adopted making each of their monetary policy statements and their reports a tentative event ahead of the release. But as at the time it's going to be released, you will get to know when this outlook report, monetary policy statement will be made available. So early on Thursday, we should get to know the time they will make available the outlook report and the monetary policy statement, but it's definitely going to be released on Thursday. Then the press conference will also hold around 30 minutes after the release of The monetary policy statement. Okay, so Mr. Fijabi saying this is his first time. Okay, so Mr. Fijabi, you are welcome to the Monday Market Review. So very welcome to you. And later in the day, that's by 1:45 PM, it will be the turn of the European Central Bank when they would release the monetary policy statement. The monetary policy statements this time around will be very important for the common currencies, that's the euro, looking at the current political crisis in Italy and then the slow vaccine rollout in the eurozone, as well as the growing number of fresh infections in the eurozone. So those 3 concerns means that the monetary policy statements that will be made available by the European Central Bank will be key to the strength of the euro looking forward in the next couple of weeks. Even though they are going to keep the main refinancing rates, which is their interest rate, constant, uh, the main refinancing rate is going to be constant, but all attention will be on the monetary policy statement by 1:45 PM come Thursday. Then later by 2:30 PM, the head of the European Central Bank, that's Ursula Lagarde, she would also face the press and get to explain some of the reasons behind the statements the bank made available some 45 minutes earlier. So some questions and answer session will also hold during the time. Okay, so Madame Victoria is asking that how often do we have this Monday Market Review? Monday Market Review holds weekly, so every Monday by 10 AM, that's when we have, um, the Monday Market Review. Monday Market Review holds every Monday by 10 in the morning, just as you are tuned in. Today. So just tune in next week Monday, upper Monday. Every single Monday we have the Monday Market Review, same time, 2:30 PM. On Thursday we have the Philly Fed Manufacturing Index, and, um, same time we are, we are also expecting the unemployment claims. Unemployment claims are side growing, uh, in recent time, especially the last release came out at 965,000. far, far above the forecast. And this time around, we're expecting a forecast of 832,000. So any figure lower than 832,000, coupled with the euphoria of having a new president in the United States, would, uh, would further strengthen the greenback. If this comes out good, Philly Fed Manufacturing Index also comes out good, with the euphoria of a new president in the United States, everything will be looking good for the dollar on that day. And by 10:45 PM, that's later in the day, to be the turn of, um, New Zealand dollar when the CPI quarter by quarter would be released. So the CPI quarter by quarter from the forecast is already depicting a decline because the last release came out at 0.7% and the forecast this time around is 0.2%. And We all have a reason, or we all know the reason behind this reduction in the forecast. We've seen the impact of the second wave of coronavirus ravaging the world once again. So that has actually led to lower inflation in most countries around the world, and New Zealand economy is not immune to the impact of the coronavirus. Finally, on Friday, Friday will also be a very, very interesting day when it comes to the fundamentals. Okay, so Mr. David, pretty soon we'll be moving to the charts where we'll be looking at some of these instruments you have reached. They said EUR/USD, we are going to look at the chart. And then we get to see if we'll be expecting some bullish move on EUR/USD for this week. But based on the fundamentals expected this week, we should still be tending towards a more bearish EUR/USD for this week. But very soon we get to see the charts, and then we look at the expectation for the week based on what the chart is depicting. So from CoinEx. So what would, would you advise someone already in a sell trade for gold to stop loss now? Okay, someone who already has a trade on gold, uh, once we get to the chart of gold, uh, maybe at that time you can give us the price at which you were able to initiate that trade on gold. We'll check it together and then get to, um, look at the best possible way out of the current trade you have on gold. Next. Okay, so when Friday, which is, um, the final trading day for this week, could be the turn of a lot of PMIs all around the world starting as early as 8 AM. So we have retail sales month by month from Britain as early as 8 AM on Monday. So retail sales is expected to have grown by 0.8%, far above the previous, which is -0.8%. That was a decline the last time. So this time around, we're expecting some growth in retail sales in Britain. So a figure above 0.8% will be very good for the Queen's currency. That's the cable. By 9:15 AM, it will be French Flash Services PMI and French Flash Manufacturing PMI. When one considers the French economy, French economy is more service-driven than manufacturing. So the flash service PMI is more important compared to the manufacturing PMI because the service sector in France is far developed compared to the manufacturing sector in France. So we pay more attention to the flash services PMI by 9:15 AM on Friday much more than the manufacturing PMI released at the same time. By 9:30, it will be the turn of the powerhouse of the Eurozone, that's Germany. They will be releasing German flash manufacturing PMI and German flash services PMI. This time around, these 2 are very, very important because Germany is the powerhouse when it comes to manufacturing in the Eurozone, and the service sector in Germany is still also very, very developed. So the 2 from Germany is really, really important. So positive data from the 2 will be good for the eurozone and would lend some strength to the common currency by 9:30 AM. And by 10 AM, it will be the overall economy. That's the flash manufacturing PMI for the entire zone, that's the eurozone, and flash services PMI for the entire zone. Okay, so Mr. Duremi is asking that at what point can we see the figure for the actual reports to know which markets to place either buy or sell? That's, um, there is a possibility that Mr. Duremi has not been able to attend any of our physical classes or maybe our online classes on fundamental analysis. So the time specified here, so from 12:30, 1:00 AM, 1:30 AM, All these times specified here are the time this actual data will be made available, and it is at that time we will be able to analyze and see if this data that has been released is greater than forecast depending on the actual figure that is made available as at the time specified here. So like the flash manufacturing PMI, and flash services PMI that will be released from Eurozone. So by 10 AM on Friday, 10 AM on Friday, a specified number will be here based on, um, the actual for these 2 data. Once the actual is out, we can now make a comparison with the forecast to see if it is good for the currency or it is bad. for the currency. And by 10:30 AM, uh, we'll be expecting flash manufacturing PMI and flash services PMI from Britain. Uh, the service sector in Britain is more developed than manufacturing sector, so we pay more attention to the services PMI from Britain compared to the manufacturing PMI. What do I mean? If the flash services PMI comes out good and manufacturing PMI doesn't look so good, the data will still be treated as being good because the service sector in Britain is much more developed than the manufacturing sector in Britain. Then 2:30 PM, uh, core retail sales and then retail sales data from Canada. Core retail sales is less volatile compared to the retail sales, so core retail sales is more important compared to the retail sales. So should look out for the core retail sales much more than the retail sales data from Canada by 2:30 PM on, when, on Friday. And, um, to end the week will be the flash manufacturing PMI from the United States by 3:45 PM. Flash manufacturing PMI, that will be the final major economic event for all the medium economic events expected for this week. And for those of us that trade oil, our crude oil inventory has been moved from Thursday to Friday for this week. So Friday by 5 PM, crude oil inventories will be released for those of us that trade crude oil. And by 6 PM, we'll be expecting Baker Hughes recount data, although that data is not usually made available on Forex Factory, but we can check The Beka Yuke website for the recount data. For some of us that are oil traders, trying to analyze the thirty charts. Okay, Mr. Ola, I would definitely get to see D thirty very soon. So we kick off by checking the charts of Euro USD. Is Euro USD going to sell this week? Yeah, that's what we are about to check out now. That's what we're about to check out now, uh, from Apple. Then euro pound from Chukwuma Jonathan. Okay, so from Bro Dufia, if the actual data is out and there is no forecast but the previous is available, can we still understand the strength of the currency? Uh, well, one cannot, um, just compare the actual directly to, um, the previous. You need to compare the actual to the forecast because the forecast deals with the current situation in the market. The previous dealt with what has happened previously in the market, so that cannot be used for our analysis most of the time, except the actual is— after comparison with the forecast, that's where you can go a step further by also comparing the actual with the previous. But first of all, We start with the forecast, which is which has a direct bearing or direct impact on the economic data that is released. Okay, so Mr. Adiremi also talked about US hundred. Hopefully, I will be able to check on US hundred too. Okay, so this is Euro USD on the daily charts. So we see that the instrument got to. A resistance level around this price that was, um, sometime last week or 2 weeks ago. Yeah, that should be 2 weeks ago now. And off that resistance, we were able to get this very sharp retracement from around that— from around the resistance. And the candle that was formed after this particular one got to around the resistance happened to be able to completely engulf the body of this bullish candle. Signaling that there might be some bearish move in the market. So after this signal, the next candle, which also closed lower than the bearish engulfing, giving us more confidence on a sell trade on the instrument. And from then, we could see we've had some very strong bearish move on EUR/USD since around that day. But currently, the instrument is trading around the local resistance At 1.20628, so it's trading around the local resistance on the daily time frame. And the last time we got to around this local resistance, we had this retracement of around that area. Even though the last time we had this retest was a retest on that particular zone, which was a support as at that time and still remaining support at this time. So Euro USD is currently supported at this price level. So with this support, uh, proven to be a fairly strong one, so we should actually check, um, on lower time frame to see what we would be looking out for on EUR/USD. So the last 2 candles here, you could see this very sharp retracement or rejection also around this price level. So until EUR/USD is able to close below this 1.20628 Even though I am expecting a very strong dollar ahead of the inauguration on Wednesday, I still want us to wait on EUR/USD for this moment. Let's wait and allow the current candle either on the hourly time frame or the 4-hour time frame to close outside of or below this price level, 1.20628. So until then that we can have a sell trade on EUR/USD. But for now, let's just wait for reaction around this price level. That's 1.20628. A trade below 1.20628 means we will be able to sell EUR/USD as far as, as far as 1.19735, in as much as it's able to break outside of 1.20628, we'll be able to have a sell trade to 1.19735. That's our first TP, and subsequently this level, 1.19274, and, uh, finally can target this level, 1.18854. But a break below 1.20628 is very important for us to be able to have a sell trade with our first TP at 1.19735, second TP at 1.19274, and then finally 1.18854. So next is, um, USD/CHF. So for USD/CHF, USD/CHF also got to, um, this local support at, um, 0.87643 thereabouts. And around this local support, there was a very strong rejection of that support with the candle closing like an hammer. The next candle was able to close above, um, the rejection candle, which actually confirmed the return of buyers to this market. So this, um, instrument is looking So this is a very strong, uh, bullish trend expected on this instrument even though this is on the weekly chart. So we need to check on lower time frame for very good entry point for us to be able to initiate trade on USD/CHF for this week. So on the daily time frame too, we can also notice Um, the same pattern, uh, and then on 4 hours, still the same pattern. But on 4 hours timeframe, we'll be able to see this local resistance at around the price where USD/CHF is currently trading. That's 0.89200. So there is a local resistance at around this price level. So until USD/CHF is able to close outside of 0.89200 We should not have a buy trade yet, even though I am expecting a strong dollar, which means USD/CHF should continue to trade higher. But it will not be too safe for us to have a buy trade yet. Let's wait for reaction around this price level, 0.89200. So a break outside of 0.89200, that means, um, the candles are able to close outside of 0.89200. That's higher than 89,200, then we can have a buy trade, which is in confirmation of a strong dollar expected for this week, with our TP at 0.90110. So a break outside of 0.89200 means we can buy USD/CHF with our TP at 0.90110. 100. I think I'm having a couple of questions. Let me quickly check the question. Okay, US 100, uh, definitely we are going to check US 100. Uh, Mr. Gerald, they said we should also check silver. Hopefully if there will be time, we might be able to also check out on that. Uh, but silver, gold, platinum, um, most of the time move in similar way, especially gold and silver. If gold is bullish, so we expect silver to also trade bullish, um, around that time. Okay, US30. This one, Mr. David said we should check EUR/USD on the hourly time frame. Okay, let me quickly— I think I did that on the hourly time frame. Yeah, because the price level cuts across all the time frames. So this same price level, which is actually a very strong support level for EUR/USD based on um, the question on the chat box. If it's able to close outside of this price level, that's 1.20628, that is the time we can have a fresh sell trade on EUR/USD. Even though I'm very bearish on EUR/USD for this week, but we cannot sell yet in as much as it is still trading above 1.20628. So it closed below 1.20628, then we sell with our TP at 1.19735. Once that is closed, we can have another sell at 1.19274, and then finally 1.18854. Okay, so Mr. Jeremy said, which time frame is the analysis good? Yeah, we have to first check from the larger time frame to get the trend on the instrument, then we move to the lower time frame for entries. So entry points will be seen on the lower time frame, but we need to check the higher time frame for, um, the trend on the instrument. For pound against, um, the dollar, um, so this also got rejected at 1.36960. So there was a strong rejection around the resistance at 1.36960. With the rejection still very firm in the market, so we still expect pound USD to continue to trade bearish ahead of the inauguration as well as the BOE press conference, and then the speech by Bailey today, and then as well as on Wednesday. So those speeches might actually Just give some minor strength to the cable as at the time. But for GBP/USD for this week, I'm expecting, I'm expecting GU to continue to trade bearish. But let's check on the lower time frame for good entry points for Great Britain pound against the dollar. Okay, so for this one, um, it's only those that are actually looking at, um, taking advantage of opportunity right away that can just have a sell trade right now, but should have their TP before 1.35013 because, um, it should still trade at least to this level first of all. And for the general direction for this week, uh, we need to wait until it is able to go below this price level that's around 1.34498. But for if it trades now, you can place a sell trade now and have our TP at 1.35013. That's just to take advantage of some short movements in the market, uh, but generally for the week, we wait until GU is able to go below 1.34498 With our TP target at first 1.33968, that's the first level, and the final level will be at 1.33366. So we wait until GU is able to go below 1.34498. With our take profit at 1.33968, 33968, and final TP for the week will be at 1.3366. That's for Great Britain pound against the dollar. USD/JPY is currently trading around a local resistance on the daily chart, with some rejection expected around this local support. So this local support is expected to reject So it's trading around a local resistance with a rejection expected, and we can actually see the rejection across the 4 previous candles. So here, here, here, Even though the yesterday's candle was unable to trade to as low as around this price, that's 103.736. So this one is already giving us the opportunity to be able to initiate our trade right away. So we can have our buy trade directly now on USD/JPY. So we buy USD/JPY right away. And we have our first TP at this level, that's 104.073. We have our first TP at 104.073, and eventually for the week we'll be looking at this resistance at around 104. So we can buy USD/JPY right away with our TP at 104.070. And for the week, we'll be looking at reaction around this resistance, that's 104.357. Reaction around that will tell us if we are to continue to buy USD/JPY above this price level. But for now, we can have a buy trade right away with our TP at 104. USD/CAD. USD/CAD is also having a similar move like USD/JPY we have just examined, but there's a local resistance at around this price at 1.27857. So with this local resistance and then another Um, level where some rejection is expected at 1.28306, which means for USD/CAD we can have a buy at this point and then have our TP at 1.28306. So USD/CAD too, we can buy right away with our TP at 1.28306, but eventually for the week we'll be targeting 1.28615, 1.28615 for our TP for the week on USD/CAD. So I expect USD/CAD to continue to trade bullish despite the resurgence in oil prices. AUD/USD also got rejected at, um, 0.78152. So with, um, the rejection expected to continue on This pair, so we expect AUDUSD to continue to trade bearish. But at what point we'll be able to have a trade on AUDUSD on shorter time frame? So checking on the four hours, we can see rejection around this price that was on the fourth of January. So there was a rejection around 0.76411 on AUDUSD on the fourth of January. So until AUDUSD is able to close lower than 0.76411, even though you can have a sell now with your TP before 0.76411. But for every— for the week, I want us to wait for reaction around this price level, that's 0.76411. Then we can have a sell once AUD/USD is able to trade lower than 0.76411. Then we have our TP first at 0.75695. 0.75695. From where it's trading now to that support, how many pips can one catch? Uh, let me check that. It's just around 15 pips. That's too small. So let's just wait for it to go lower than 0.76411. So once it does that, then we can have our sell trade with the target at, um, 0.756 US30. For US30, um, so there was also rejection at 31097. On US30 with an inverted hammer, a candle closing lower than the inverted hammer. And, uh, for especially on a day like today, I expect US30 to be bearish for today and to further confirm the signal we have got on— got, gotten on 2 previous occasions on this instrument. So for US30, we should be looking out for sell opportunity for today. For today, sell opportunity for today. But eventually, from tomorrow, the optimism of the swearing-in ceremony for, uh, the president-elect in the United States should further drive the index back to the upside. So when we are selling the index, we have to sell cautiously, or we just wait for the whole sell today to take effect Then from tomorrow, once we're expecting a rebound on the index, then we can buy from around the support where it is trading as at that time tomorrow. Uh, so maybe it's able to get to, um, this level today. It's able to trade as low as around this price level or around this price level. So from around any of these 2 price levels, depending on where US30 is able to trade to today we can have a buy trade from there because the optimism of the new administration in the United States should be good for the index, especially owing to the fact that they have a very solid plan towards a fresh stimulus to the tune of around $1.9 trillion. That's a lot of money, a lot of free money going to the hands of an average American. which means they will be able to have a lot of money to be able to invest in the stock market as well as some, some other investments that will catch their attention. US D30. Now for D30, so I still expect, even though the current candle is looking bullish still expect DXY to come as low as 13,599.8, and from around that zone it can then push up. So I still expect it to trade slightly lower to around this price for today, and then from that price level it can then push up. So DXY, um, bullish overall for the week, but for today I expect it to trade bearish to around this price level from where the bulls can take charge of the market. Okay, um, so for gold, uh, this, this candle, um, showed a massive rejection around, um, this price level, that's 1823.48, and the current candle is trying to retest, um, this same price zone with A stronger dollar, we expect gold to trade bearish. When dollar is strong, gold is expected to trade bearish in as much as there are no fresh security concerns in the United States. So in as much as we're able to avoid a fresh security concern in the United States and new strain of coronavirus is not also detected in any other country apart from England and So gold should trade bearish, but we can only have a sell trade on gold once it's able to trade below 1823. But if 1823 continues to hold a strong support to gold, then we might see a rebound from around that price level. So we can't sell gold yet until we're able to get a candle that closed outside of 1823.48. So it closed outside of 1823.48 means we can have a sell trade on gold with our TP at around 1766. 1766. Once gold is able to go outside of 1823, that's below 1823, then we can— okay. Um, so Mr. Apple, I don't know the name, but it's Apple I'm seeing here. What do you advise someone that has buy trade Trade on EUR/USD and gold. For someone that has a buy trade on gold, for instance, uh, we are still having a support in view that's at 1823.48. In as much as gold is not able to close below this price level, then it can still rebound. But a close below 1823.48 coupled with expected stronger dollar means gold will likely sell for this week. So the possibility of a sell is higher than its buying. So for US100, too similar move expected. A bearish day is expected today. Um, so US100 is also expected to trade bearish today, and then from tomorrow we'll be looking out for rebound. On the stock market. So rebound tomorrow, but for today, some bearish move will be expected on the index. So oil is rebounding from this price level, that's 54.48. So as this current candle is, is now, if this current candle is able to close above, um, the previous one, so if this one is able to close bullish, this current candle, not as what it's looking like now If it's able to close bullish above the last candle, then we'll be looking at a buy trade on oil with our TP at around 56.41. So I'm expecting oil during the course of this week to retest the 56.41 resistance this week. Okay, so for Mr. Tobi, um, he's asking if it is safe for one to sell D30 at this point. Uh, well, it depends on what you're actually looking at, but what I'm expecting is for D30 to retest this, um, zone that's 13599. So if you are looking at taking advantage of that retest, all well and good. But the best bet would be to wait for the retest around this zone, then one can buy from there. So retest around this zone, then one can buy from there because I'm more comfortable having a buy trade on index than having a sell trade because you have to sell cautiously. You have to sell cautiously. That's the concern with having a sell trade. I think this will be the last instrument to be checking. That's, um, euro pound. Um, euro pound will be the last instrument to be checking for today because of our time. Um, so euro pound also rebounded from 0.886684 but has also been rejected at around this price, that's 0.89240. And in the last couple of days, so since around 13th of January, we've seen euro pound trade just between these 2 zones, that's 0.88684 and 0.89240. Um, so until a major driver in the economy change the fundamentals on this particular instrument, so I still expect this instrument to just trade within this bound for this week until there's a major fundamental to lead to a break either to the upside or to the downside. Which means once euro pound gets to 0.89240, one can have a sell trade with TP at around 0.88684. And once it retests 0.88684, one can also buy with TP at around 0.89240. Okay, I think this will be a convenient point to say thank you very much for everyone that was, um, a path of today's Monday market review. I want to appreciate every one of us, and I wish us a very profitable trading week. So let's get some pips for ourselves from the market this week. Thank you very much and have a great day.