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 21 December 20

21 December 20

New covid strain boosts dollar, gold shines on fiscal stimulus deal, Brexit eyed

A new strain of COVID-19 is 70% more transmissible, raises the reproduction rate by between 0.4 and 0.7, and is “out of control” according to UK Health Secretary Matt Hancock. The VIU-202012/01 variant is probably not more dangerous nor vaccine-resistant.

Brexit: The EU and the UK continued trying to negotiate a trade deal also over the weekend and in the latest reports, significant differences remain, especially on fisheries. A potential EU concession on the sensitive topic has angered the sector. Brexit deliberations missed a Sunday deadline set by the European parliament.

US Stimulus: Senate Majority Leader Mitch McConnell announced that Democrats and Republicans reached a deal worth $900 billion, the second-largest in history after March’s CARES act. The deal includes checks to all Americans, unemployment benefits, and aid to small businesses.

A breakthrough became possible after Senator Pat Toomey retreated from demands to curb lending powers of the Federal Reserve. The news is keeping US stock futures afloat despite concerns about the new string. A final vote is due later in the day. Gold has surged above $1,900 in response.

Oil prices have dropped amid concern of falling demand with WTI Crude Oil dropping under $48.


GBP/USD Daily Forecast – British Pound Falls Amid Worries About New COVID-19 Strain

GBP/USD gained strong downside momentum and is trying to settle below 1.3350.

GBP/USD managed to get below the 20 EMA at 1.3380 and is trying to settle below 1.3350. In case this attempt is successful, GBP/USD will head towards the next support level near 1.3320.

A move below 1.3320 will push GBP/USD towards the support at 1.3300. If GBP/USD declines below 1.3300, it will get to the test of the next support level at the 20 EMA at 1.3280. A successful test of this level will open the way to the test of the next support at 1.3250.

On the upside, the nearest resistance level for GBP/USD is located at the 20 EMA at 1.3380. If GBP/USD manages to settle above the 20 EMA, it will head towards the next resistance at 1.3400.

A successful test of this level will push GBP/USD towards the resistance at 1.3440. In case GBP/USD settles above 1.3440, it will move towards the next resistance level at 1.3485.

EUR/USD, “Euro vs. US Dollar”

In the H4 chart, after breaking 8/8 and leaving the “overbought area”, EURUSD is expected to continue falling towards 6/8; this movement may be considered as a correction within the uptrend. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue trading upwards to reach +1/8.

Gold Price Analysis: XAU/USD recaptures $1900, doors open towards $1912 – Confluence Detector

Gold Price Chart: Key resistances and supports

The Technical Confluences Indicator shows that the XAU/USD pair has finally taken out the key $1900 level, which was the confluence of the Pivot Point one-day R3 and Bollinger Band four-hour Upper.

The buyers now target the $1907 barrier, where the SMA100 one-day coincides with the Pivot Point one-month R1.

The next resistance awaits at the Pivot Point one-week R1 of $1912. Acceptance above the latter could open doorways to heaven.

On the flip side, a breach of the $1900 support could put the $1896 cushion at risk. That level is the previous week high.

Minor support is seen at $1892, which is the convergence of the Bollinger Band one-day Upper and 15-minutes Lower.

Bears will then eye a sustained move below $1888, the intersection of the Fibonacci 61.8% one-month and Pivot Point one-day R1, to accelerate the downward pressure.

Further south, the next relevant support is aligned at $1883, which is the Fibonacci 38.2% one-day.

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.