8DC Daily Analysis

January 18 2022

D1 EURUSD

EURUSD tested daily support at 1.1390/1.1400, while this level holds you should expect another upside attempt to 1.1440 and the recent high 1.1480.

However, if 1.1390 support is broken the next area of support is 1.1350

D1 USDJPY

USDJPY found strong support on the dip below 114.00 to 113.50. The resurgent USD is now facing resistance at 114.60/70 a break here would target 115.10/20 and possibly 115.50 in an extended move up.

If resistance at 114.60/70 holds firm, you will see some renewed downside pressure targeting support at 114.00/113.90.

D1 GBPUSD

1.3640/30 Support has held up the USD recovery against the GBP, while this area holds you could see another move up towards 1.3690/1.3700 resistance, and possibly 1.3740/50.

If 1.3630 is broken then expect further GBP weakness to 1.3580 and 1.3550.

D1 XAUUSD

Gold trading seem to be getting tighter every day, and although we are stuck in the same old ranges, you should not be complacent. The market will break out soon.

Resistance remains at 1830/1832 while support is found 1814/1812 and then 1804.00.

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

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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