US: Democratic Concerns Over 'Threats To Democracy' Rise Ahead Of Midterms

• US TSY 52W BILL AUCTION: HIGH 3.390%(ALLOT 29.55%)
• US TSY 52W BILL AUCTION: DEALERS TAKE 25.39% OF COMPETITIVES
• US TSY 52W BILL AUCTION: DIRECTS TAKE 2.32% OF COMPETITIVES
• US TSY 52W BILL AUCTION: INDIRECTS TAKE 72.29% OF COMPETITIVES
• US TSY 52W AUCTION: BID/CVR 3.42

White House Press Secretary Karoline Leavitt is shortly due to brief reporters at the White House. The White House conveyed to the press pool that President Donald Trump is expected join the briefing to discuss his first year in office. LIVESTREAM

• The presser may provide additional details of Trump's agenda for tomorrow's appearance at the World Economic Forum in Davos, Switzerland. His keynote address to the forum is scheduled for 08:30 ET 13:30 GMT. He also has a meeting with corporate executives at 11:25 ET 16:25 GMT.
• It is likely he will meet with several European leaders, including French President Emmanuel Macron and UK Prime Minister Keir Starmer, both of whom have publicly pushed back against his bid to acquire Greenland.
• Today, senior Trump administration officials have lined up behind Trump's claim that sovereignty over the island is crucial to US national security. The most recent argument, first espoused by Trump yesterday and repeated by Treasury Secretary Scott Bessent today, is that a UK decision to cede control over Diego Garcia - an Indian Ocean territory that houses a US military base - is evidence that European NATO partners cannot be relied on to safeguard US national security. 

• RES 4: 1.1919 High Sep 17 and a key M/T resistance  
• RES 3: 1.1848 High Sep 18
• RES 2: 1.1808 High Dec 24 and the bull trigger 
• RES 1: 1.1768 High Jan 20
• PRICE: 1.1732 @ 16:07 GMT Jan 20
• SUP 1: 1.1633/1573 Intraday low / Low Jan 19 and the bear trigger
• SUP 2: 1.1549 76.4% retracement of the Nov 5 - Dec 12 bull leg
• SUP 3: 1.1512 Low Nov 25
• SUP 4: 1.1491 Low Nov 21  

The recovery in EURUSD from Monday’s low alters the technical picture and highlights a reversal of the bear leg that has been in place since Dec 24. Monday’s price pattern is a bullish engulfing candle - a reversal signal. The pair has cleared the 20-day EMA, at 1.1672, strengthening a reversal threat and opens 1.1743 (pierced), the high Jan 6. A clear breach of this level would strengthen a bull theme. Key support is 1.1573, the Jan 19 low.