Dear Clients,
Tradeo ceased offering trading services last year in May. Trading and ancillary will not recommence, and the brand/platform will be permanently discontinued.

For the clients with remaining balances, kindly send a withdrawal request through your login or via chat or email. If there are any queries or concerns relating to your account or any other matter, please email us at [email protected]


market review 18 December 20

18 December 20

Economic Data, Brexit, and Capitol Hill to drive the Majors

Economic data puts the EUR, Loonie, and the Pound in focus. Brexit updates and stimulus talks from the U.S will be key, however.

The Day Ahead:

For the EUR

It’s a relatively quiet day ahead on the economic calendar. Germany’s IFO Business Climate Index and wholesale inflation figures are due out later this morning.

Expect the IFO numbers to have the greatest influence, with the markets expecting a marked pickup in sentiment.

Away from the economic calendar, however, Brexit and updates from Capitol Hill will also provide direction.

At the time of writing, the EUR was down by 0.11% to $1.2255.

For the Pound

It’s a relatively busy day ahead on the economic calendar. Key stats included November retail sales figures.

Following the BoE monetary policy decision on Thursday and the impact of lockdown measures, the markets may be forgiving with COVID-19 vaccinations underway.

While any disappointing numbers will test Pound support, direction on the day will ultimately come from Brexit talks. There are less than 2-weeks remaining until the end of Britain’s transition period.

At the time of writing, the Pound was down by 0.23% to $1.3554.

For The USD

It’s a quiet day ahead on the economic calendar. 3rd quarter current account figures are due out of the U.S that will likely be brushed aside.

On the day, the focus will remain on Capitol Hill and COVID-19 news updates

Forex technical analysis and forecast

EUR/USD, “Euro vs US Dollar”

After completing the ascending wave at 1.2200 and then returning to 1.2130, EURUSD is growing again to reach 1.2222. Later, the market may start a new correction with the closest target at 1.2180.

GBP/USD, “Great Britain Pound vs US Dollar”

After forming a new consolidation range around 1.3430 and breaking it to the upside, GBPUSD has reached the target at 1.3550; right now, it is consolidating below the latter level. If later the price breaks this range to the downside; the market may form a new descending structure towards 1.3419; if to the upside – resume trading upwards to reach 1.3620 and then start another decline with the target at 1.3300.

USD/CHF, “US Dollar vs Swiss Franc”

After completing the descending wave at 0.8830 along with the correction towards 0.8880, USDCHF is forming another descending structure to reach 0.8811. After that, the instrument may start a new growth with the first target at 0.8900.

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services.