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11.01.202116:27 Forex Analysis & Reviews: EUR/USD analysis for January 11 2021 - Bullish divergence on the oscillator and potential for the rally towards 1.2200

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BOE's Tenreyo: Work on feasibility of negative rates is still in progress

It's possible that more stimulus will be needed

If negative rates are in the toolbox, that will be very important
There's no evidence that negative rates will hurt bank profits, possible that the current structure of UK banking system could lead to a less-positive outcome
My decisions on stimulus will depend on the outlook at the time of voting
All else equal, looser monetary policy can help the economy recover faster
Experiences of other countries suggest negative rates effective
We have a very large degree of spare capacity
Resurgence in virus likely to mean a significant loss in jobs
Even if UK vaccinates quickly, a slower rollout in trading partners could weigh in UK
Speed of rebound will depend on the speed that savings are released
QE more effective to offset disruption rather than providing net additional stimulus

Further Development

Analyzing the current trading chart of EUR/USD, I found that the sellers got exhausted today and the upside rotation would be probably to correct strong downside movement from recent few days.

1-Day relative strength performance Finviz :

Based on the graph above I found that on the top of the list we got VIX and Soybean meal today and on the bottom Ethanol and Platinum,

EUR is negative on the list but with potential for the upside movement.

Key Lvels:

Resistance levels: 1,2183 and 1,2200.

Support level: 1,2140

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