8DC FX Daily Analysis

February 7 2022

Trade Forex, Metals, Oil, Indices, and 24/7 Crypto at http://www.8dcglobal.com

D! GBPUSD

Support for cable is found at 1.3500 while this holds, there is the potential for an upside move to 1.3580 and possibly 1.3620 in extension.

Alternatively if 1.3500 is broken it will open the door for deeper drop to 1.3440 support.

Di USDJPY

The dollar could not quite make it to 115.60 resistance on Friday, falling short just above 115.40. However while the USD has support at 115.10/00 look for further advances testing 115.60/70 and if broken 116.00.

However, if 115.00 support breaks down, look for further weakness to 114.70 and 114.30.

D1 EURUSD

EURUSD failed in its latest attempt to break 1.1480, while below this level expected some downside drift to test support 1.1410/1.1400 and possible 1.1370.

Resistance is now seen at 1.1460 and of course 1.1480, which if broken will allow an attempt to 1.1520.

D1 XAUUSD

Gold remains trapped within its recent trading ranges Support is going to be found first at 1802 and then 1794.

Resistance is now at 1814 and 1822.

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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