The pair forms a “descending flag” pattern within an ascending trend. The decline in risk appetite after the recent strong rally weighs on the markets. The pair is expected to continue to consolidate further.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA …
Thursday, January 21st, today’s news—global markets are optimistic as Joe Biden takes office, and more stimulus is expected in the US. Investors await the ECB monetary policy meeting, dollar continues to weaken. The price of Brent oil is $55.66, WTI—$52.93, EUR/USD is at 1.2136, GBP/USD—1.3742, gold is $1,870.10 per ounce. …
Cisco's stock continues its upward movement, as the price tries to break the resistance level at 45.25 and stabilize above it, and continue the upside path.
Trading continues above the 20-50 moving averages, as the price moves directly above the 7-20 averages, which support the price to achieve more gains, …
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