8DC FX Daily Analysis

January 14 2022

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

D1 EURUSD

EURUSD has so far failed to break 1.1480. However, corrections have been limited to 1.1450/40. Should the EUR manage to break above 1.1480 the target would be 1.1520.

Support is found at 1.1440/30 a break down here opens a test of 1.1400/1.1390.

D1 GBPUSD

The Pound found strong resistance at 1.3740/50 yesterday.

This morning in early trade 1.3700 is providing some support, but if broken you should see a drop towards 1.3670 and possibly 1.3630 in an extended move.

If the GBP can get some upside momentum and break 1.3750 the target is 1.3810

D1 USDJPY

USDJPY keeps breaking support levels, much to the disgust of USD Bulls. This is not about the FOMC and US interest rates, but a new Cold War between Russia and the West. With Poland warning about the threat of war in Ukraine, the JPY has made gains as a safe haven

Immediate support is now 113.90. Strong support will be found at 113.40

Resistance is at 114.40 and 114.80

D1 XAUUSD

Gold trade remains lacklustre, despite US Inflation, and the likelihood of higher US interest rates in March. Maybe traders can’t work out yet which way to jump. Safe Haven or follow the FOMC.

Resistance is still at 1830/1832 a break here could see another run up towards 1850.

Support on the day remains at 1814.00 a break would see a drop to 1806/1804 and possibly 1798.00 in extension.

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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