Forex market reviews

On Wednesday the 16^th of January, the euro fell slightly against the US dollar and the British pound. It remained under pressure following the comments of ECB head Mario Draghi, who told the European Parliament that the recent economic performance of the eurozone was worse than expected, and that the economy still needs substantial stimulation in the face of uncertain external factors.

Mid-2018 may not have been the best time for gold but the end of the year was awesome. The beginning of January has basically seen a continuation of the positive sentiment on this precious metal, occasionally strengthened by additional factors.

EURGBP finally ended the sideways trend that had been present on the chart since the 7^th of December. The pair was locked inside a rectangular pattern (green lines) with a tight range of 120 pips. Traders finally decided to head south, and in terms of the risk-to-reward ratio, this could provide a great trading opportunity.