January 10, the dollar index (DXY), which tracks the value of the US currency against a basket of six world peers, lost 0.3% to 101.64 points, on the eve of the press conference of the elected US President Donald Trump on Wednesday. This is his first press conference, after winning the elections in November. USD / JPY: Quotes of the USD / JPY currency pair are moving down against the background of growing demand for assets of the asylum, awaiting the speech of the newly elected President Donald Trump. The MACD indicator continues to decline, showing the growing potential of bears. At the same time, moving averages point to a persisting bullish trend, while USD / JPY quotes have dropped below MA25 and are heading towards MA100, a breakout of which will give a bearish signal. Against the background of the current situation, we can expect the bearish movement to continue towards the level of 114.14 (26.3% Fibonacci), the breakdown of which will allow the bears to continue the downward movement to the level of 11.35 (38.2% Fibonacci).

AUD / USD: During the Asian session, the quotes of the AUD / USD currency pair continued their upward movement, after yesterday’s breakdown and consolidation above the level of 0.7305, or 23.6% in Fibonacci. The pair is growing, despite the weak economic data from Australia, where retail sales grew less than expected. The dollar weakened on the eve of the press conference of the elected President of the United States Donald Trump on Wednesday. The MACD indicator continues to grow, after crossing the zero line, showing the growing potential of bulls. At the same time, moving averages point to a continuation of the bearish trend. Maturing divergences are not observed on the chart. In this situation, we can expect the continuation of the development of the bullish trend to the level of 0.7395 or 38.2 Fibonacci, the breakdown of which will open the way for the bulls to continue to grow.

NZD / USD: Quotes of the NZD / USD currency pair continue to move higher, after yesterday’s breakdown and consolidation, above the level of 0.7007, amid a weakening dollar on the eve of the press conference of the elected US President Donald Trump on Wednesday. The MACD indicator is growing after crossing the zero line, showing the increasing potential of the bulls, while quotes have broken through the MA25 and are heading towards the MA100. In this situation, we can expect the continuation of the bullish movement to the level of 0.7098 or 38.2 Fibonacci, the breakdown of which will allow the bulls to continue the ascent with targets at 0.7172 and 0.7246.

XAUUSD: During the Asian session, gold quotes continued to rise, while breaking through and consolidating above 1182.02, amid increased demand for asylum assets, awaiting a Donald Trump press conference to be held on Wednesday. The MACD indicator continues to grow after crossing the zero line, showing the growing potential of bulls. At the same time, moving averages show a persisting bearish trend, and the Stoch indicator has entered the overbought zone. Overcoming divergences are not observed. Having broken through and consolidating above the level of 1182.02, the bulls can continue their upward movement to practice the level of 1288.88, breaking down of which will allow the bulls to continue the ascent with targets at 1218.88 and 1248.66.

EUR / JPY: During the Asian session, the quotes of the EUR / JPY currency pair remained almost unchanged, after yesterday’s decline and rebound from the upper boundary of the horizontal channel. One of the reasons for the strengthening of the JPY, was the growing demand for asylum assets, ahead of the Donald Trump press conference on Wednesday. The MACD indicator is falling after crossing the zero line, while moving averages indicate a persisting bearish trend. On the daily chart a bearish divergence has formed, between currency quotes and the MACD indicator. In this situation, the bears will probably be able to continue the downward movement, to work out the lower boundary of the horizontal channel, the breakdown of which may be the beginning of a long bearish movement. Trading recommendations. In case of breakdown and consolidation below 120, 96 (23.6% Fibonacci), sales can be considered, with short stops above the level. BRNG7: Brent crude oil futures quotations slightly strengthened on Tuesday, after falling by about 4% on Monday, amid fears that export growth in Iraqi crude in December, growth in US production and increased supplies from Iran, could undermine the agreement to reduce production oil between exporters, led by Saudi Arabia and Russia. The MACD indicator is declining, showing the growing potential of bears, while moving averages are on the side of bulls. The divergences that are visible on the chart contradict each other, indicating the instability of the oil market. In this situation, we can expect further downward correction to the level of 54.39 (23.6 Fib), the breakdown of which will open the way for the bears to further decline to the level of 51.93 (38.2% Fib). Review prepared by Fort Financial Services Analytical Department

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