8DC FX Daily Update

February 9 2022

D1 GBPUSD

Cable remains well supported on dips, and is looking to test resistance at 1.3570/80 which if broken would see a run up to 1.3620.

Support is at 1.3520 and 1.3490 and if broken a drop to 1.3450 is the likely outcome.

D1 USDJPY

USDJPY has yet to break resistance at 115.70, a failure here would see a corrective down move to 115.10 possibly 114.80 in extension.

If the Dollar can get some upside momentum to clear 115.70 the next target would be 116.00 and possibly 116.30.

D1 EURUSD

EURUSD remain rangebound between support at 1.1400/1.1390 and resistance above 1.1460 to 1.1480. A break to the downside which we favour, would see a drop back 1.1360 possibly 1.1340 in extension.

Alternatively, above 1.1480 would see a run to 1.1500 and 1.1530.

D1 XAUUSD

Gold is knocking on the door of 1830/32 resistance, a break here would see a move up to 1840 and possibly 1846 in extension.

Support is found at 1818 if broken, the downside target would be 1812 and then 1808

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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