January 7 2022
It’s the first NFP Friday in 2022. The forecast is for an increase of 400K in December’s payroll and a drop in the unemployment rate to 4.1%. However, what are the technical levels we need to watch.
EURUSD immediate support remains at 1.1270 a break will open a test of 1.1220 support and possibly 1.1180 in extension.
Resistance remains at 1.1340 if broken you should see another run up towards 1.1390/1.1400 resistance.
While GBPUSD remains below 1.3560 there is a risk of a deeper correction to 1.3440 and possibly 1.3380 in extension.
If the pivotal resistance is broken at 1.3560 then 1.3610/20 would be the target.
USDJPY consolidating above 115.60/50 support, a break of this support could see a move to target 115.20 or 114.80 in extension.
Resistance remains at 116.40 a move above here would see a test of 116.80/117.00
Downside momentum continues to weigh on Gold
Resistance is now found at 1798.1800 and if broken you could see a move to 1808 or possibly 1818 should NFP disappoint.
Support is at 1786/1784, if broken the target will be 1774 or 1766 in extension.
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