Daily Analysis

January 10 2022

The US Dollar is starting the week with a small hangover from Fridays NFP, however USD bulls with have high hopes the release of US CPI will give the greenback a lift.

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D1 GBPUSD

The NFP data miss has given cable some upside momentum, and is testing 1.3600 resistance in early Asian trade today.

A break of the 1.3600 resistance this morning would see GBPUSD target 1.3650/60. However, if the GBP runs out of steam, any pullbacks would find support first at 1.3530/20 and then 1.3480/70

DI USDJPY

USDJPY sitting right on support at 115.60/50, a break down would target 115.10/115.00 and possibly 114.70 in extension.

Resistance is found at 115.90 and 116.40

D1 EURUSD

EURUSD testing the highs of its recent range, creeping up towards 1.1380/1.1400 resistance. A break of 1.1400 would target a run up to 1.1430/40

Support will be found at 1.1320 and 1,1270.

D1 XAUUSD

Gold is a little subdued trying to bounce off 1788.00 support. However, resistance at 1798/1800 has limited gains. If we can break resistance it would target 1806 and possibly 1810 in extension.

Failure to overcome 1800 would see further downside probes towards 1788 and if broken you would look to target 1784.

Contact us at support@8dcglobal.com for more information on how to trade Forex, Metals, Crypto and other Financial Markets with 8DC FX.

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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