8DC Daily Analysis

January 20 2022

D1 XAUUSD

Gold managed to break resistance at 1828/1830 and run up to 1843.00

If this is a real break out 1830/1828 will provide a strong area of support if retested. However a failure to hold 1828 would target a drop back to 1812.00.

Immediate resistance is found at 1844/46 a break here target 1850/52.

D1 EURUSD

EURUSD held support at 1.1310 and has recovered to test 1.1360 resistance this morning, if broken clearly further EURUSD strength will emerge to test 1.1390/1.1400.

Failure to hold onto its gains at 1.1360, would signal the resumption of the downside move to 1.1310 and 1.1280.

D1 USDJPY

USDJPY broke support at 114.40 the targeting 114.00/113.90 the next support zone. a break of 113.90 will see another test of 113.50/40 strong support.

If the dollar can get back above 114.40 the sentiment will improve for the greenback, with a target first at 114.80 and then 115.10 in extension.

D1 GBPUSD

Despite UK CPI for December beating estimates, headlining at 5.4%

The GBP has struggled to break above 1.3640/50 resistance. although so far pullbacks from this level have been limited to 1.3610. If cable can break 1.3640 resistance the target will be 1.3680 and possibly 1.3710 in extension.

However, failure to break above this immediate resistance would see the GBPUSD fall towards 1.3600 and 1.3570 support.

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.

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: