ONLINE FOREX BROKER
The most traded pair is falling. All the moving averages are in descending order, which confirms the current downtrend. Now EUR/USD is heading towards the key psychological mark of 1.2000. The move below it will drive the pair down to the next round number of 1.1950. On the flip side, the move above the intraday high of 1.2050 will push the pair to yesterday’s high of 1.2090.
The kiwi rose on the positive job data, but the upside is limited by the high of January 26 at 0.7250. It has failed to cross this level a few times already, so we can expect that the pair may bounce off again as the USD is quite strong and the pair is forming lower lows. Support levels are 0.7150 and 0.7100.
The British pound has approached the key support of 1.3650, which it has been unable to break so many times this year. If it manages to cross it this time, the way down to the 200-period moving average of 1.3600 will be clear. Resistance levels are 1.3700 and 1.3750.
USD/JPY has just broken through the psychological mark of 105.00, clearing the way up to the 200-day moving average at 105.60. The pair isn’t likely to cross it on the first try. So, when it reaches 105.60, the pullback is expected. Support levels are 104.50 and 104.60.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
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