Daily Analysis

January 6 2022

GBPUSD D1

Yesterday the GBP broke resistance at 1.3550/60 but fell short of our 1.3600 target.

The failure to reach 1.3600 could signal some short term GBP weakness to test support first at 1.3520 and then 1.3470.

USDJPY D1

USDJPY found strong support on yesterday’s corrective dip towards 115.60

Immediate resistance is now found at 116.30/40 a break of this level would target 116.90/117.00

Support remains in place at 115.70/60

EURUSD D1

The EURUSD failed to break above 1.1340 and has fallen back close to 1.1300

The loss of upside momentum could see the EURUSD slip below 1.1300 and test the 1.1270 Support again.

XAUUSD D1

Gold failed to break 1828/1830 resistance.

The yellow metal is under some pressure this morning and is testing support at 1808/1806 a break here opens up 1800/1798 support as an initial target.

Resistance is now found at 1818 and the key 1828/1830

If you want to trade Forex and Precious Metals go to http://www.8dcglobal.com or contact support@8dcglobal.com

Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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