ONLINE FOREX BROKER
The market sentiment is mixed, but still, there are some interesting movements. Let’s have a closer look.
The most traded pair surged yesterday after the ECB report but failed to rally above the 1.1900 level. If it manages to jump above the high of September 4 at 1.1860, it will open doors towards 1.1900 again. Support levels are at 1.1800 and 1.1760.
EUR/GBP is edging higher. The move above the high of March 23 at 0.9300 will drive the pair higher to the next resistance of 0.9415. On the flip side, if the pair drops below the low of March 25 at 0.9150, it will fall further to the next round number at 0.9000.
Gold has been recently fluctuating near the $1 950 level. If it manages to cross it, XAU/USD will surge to $1 965. Support levels are at the recent lows of $1 925 and $1 910.
The stock index has started the day on the positive footing. If it jumps above the 200-period moving average at 3 380, it will jump to 3 400. Otherwise, if it falls below the yesterday low of 3 340, the way towards 3 315 will be clear.
Follow the US Core CPI report at 15:30 MT time! As always, if numbers are better than the forecasts, the USD will rise. Otherwise – fall. Stay tuned!
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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