Daily Analysis

January 11 2022

Trade Forex, Crypto, Precious and Industrial Metals and much more at http://www.8dcglobal.com

D1 GBPUSD

Yesterday GBPUSD fell back to support at 1.3530 after it failing to break 1.3600

While 1.3600/10 caps there is a risk of another attempt to break 1.3530 and possibly 1.3480 in extension, above 1.3610 opens up a run higher to 1.3650/60

D1 USDJPY

USDJPY broke support at 115.60/70 was subsequent sold down to 115.10 support.

While the USD stays below 115.70 further losses are likely with 114.60/70 the target. Above 115.70 would likely see another test of last weeks 116.20/30 highs.

D1 EURUS

The EURUSD is finding some support at 1.1310/1.1300 after testing the downside in European trade yesterday.

1.1360 is immediate resistance this morning, that needs to be broken to allow further progress towards a target of 1.1390/1.1400. Another failure at 1.1360 would see a deeper pullback towards 1.1270 and possibly 1.1230 in extension.

D1 XAUUSD

Gold is trading again in familiar ranges back above 1800 on a slightly softer USD.

Resistance will be found next at 1808/1810 and then at 1820.

Support is at 1798 and 1790.1788

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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