
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
EUR/USD may fall further while it’s below 1.2250, said UOB group. If the pair breaks below the recent lows of 1.2140, the way down to the next support of 1.2110 will be clear. Resistance levels are at the 200-period moving average of 1.2170 and the psychological mark of 1.2200.
On the gold chart, we can notice a bearish zero line crossover. The MACD indicator gets below 0 to turn negative. Since the overall trend is also downward, further falling is expected. If the price manages to break below the 200-day moving average of $1 835, the way down to the key psychological mark of $1 800 will be clear. Resistance levels are $1 870 and $1 900.
EUR/GBP is moving down. If it crosses the key psychological mark of 0.8900, the way down to yesterday’s low of 0.8885 will be clear. On the flip side, if it jumps above the 50-hour moving average at 0.8920, the doors towards the next resistance of 0.8935 will be open.
WTI oil pulled back after reaching the fresh high in almost a year. However, the support level of $52.70 stopped oil from further falling. If it manages to drop below this level, it may dip to the low of January 11 at $51.60. Resistance levels are $54.00 and $55.00.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The American CPI is announced on Wednesday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The British monthly GDP is announced on Friday at 09:00 MT time.
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