8DC FX Daily Analysis

January 12 2022

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

D1 EURUSD

EURUSD trading higher ahead US CPI data for December.

Resistance is at 1.1390/1.1400 if broken the EUR would target 1.1430/40

Support is now found at 1.1320 and 1.1270

D1 GBPUSD

Immediate resistance is a at 1.3650/60 a break here targets further gains to 1.3680/90

GBPUSD looks a little over extended on the upside, and could see a correction to test support at 1.3570 or 1.3520 if the US CPI comes in as strong as expected above 7%

D1 USDJPY

USDJPY failed to to break 115.70 resistance yesterday, and has subsequently fallen back towards Support at 115.20/115.10

While the USD is below 115.70 it is vulnerable to further losses to 114.70 support. A break back above 115.70 targets a return to 116.20/30.

D1 XAUUSD

Gold is trading above 1820 this morning on a broadly weaker USD, the next important area of resistance is at 1830/1832.

Support will now be found at 1810 and 1800/1798

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.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: