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 28 January 21

28 January 21

Fed fails to cheer Gamestop-ped markets, US GDP, vaccine news eyed

The Federal Reserve has left its policies unchanged as expected, acknowledging recent weakness and remaining optimistic about a vaccine-fueled recovery in the second half. Fed Chair Jerome Powell stressed that any talk about withdrawing stimulus is “premature” and committed to supporting the economy. Nevertheless, his dovish words failed to cheer investors.
Facebook and Tesla reported results on Wednesday, falling short of investors’ expectations. These disappointments added to the sour market mood. The safe-haven US dollar is on the rise.
Stimulus: President Joe Biden’s team continues discussing his proposed $1.9 trillion stimulus bill with lawmakers, but is reportedly also ready to go it alone. Treasury Secretary Janet Yellen is involved in deliberations.
The US releases Gross Domestic Product figures for the fourth quarter on Thursday. An annualized increase of 3.9% is projected after sharp changes beforehand. Durable Goods Orders for December mostly missed expectations, somewhat lowering GDP expectations.
US jobless claims are also of interest on Thursday. Applications are set to drop from 900,000 recorded last week, but they remain worrying – especially as the latest figures have shown that the economic misery is spreading beyond pandemic-sensitive sectors.
EUR/USD is on the back foot due to the risk-off mood and also warnings from European Central Bank about the euro’s high exchange rate. Officials also opened the door to further lowering the ECB’s deposit rate, which stands at -0.50%. Germany and Spain release preliminary inflation figures for January.
Gold is on course to close January with a loss, the first such event since 2013.

EUR/USD, “Euro vs US Dollar”

After reaching 1.2055, EURUSD has returned to 1.2111; right now, it is falling towards 1.2040. Earlier, the asset completed the descending wave at 1.2110, formed a narrow consolidation range, and broke it to the downside. Possibly, today the pair may extend the current correction. Later, the market may complete the correction and start a new growth to break 1.2111. After that, the instrument may continue trading upwards with the target at 1.2200.

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

After reaching 1.3666, EURUSD has returned to 1.3720; right now, it is falling towards 1.3644. Earlier, the asset completed the correctional wave at 1.3700, formed a consolidation range around this level, and broke it to the downside. Today, the pair may reach 1.3644 and then resume trading within the uptrend with the target at 1.3777.

DAX 30 UK 100 Elliott Wave Analysis

DAX 30 | UK100 | Technical Analysis Elliott Wave Trading
Overview: Bullish Impulse wave through higher price levels
DAX 30 Elliott Wave: Wave (v) top?
Trading Levels: 13,500 level of support, if this becomes the resistance then expect a move to 13000
DAX30 Trading Strategy: See video

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