Hong Kong
2024-12-20 14:23
IndustriyaTechnical Outlook: Uncertain Trends Across Markets
USD Index and EUR/USD
The USD Index extended gains to 108.485, driven by strong U.S. GDP data. If momentum persists, targets of 110 for the USD Index and 1.0330 for EUR/USD are possible.
EUR/USD is trading below 1.04, with support around 1.0330–1.0300. A breach below this zone could reinforce bearish momentum.
USD/JPY and EUR/JPY
USD/JPY surged to 157.929 earlier than anticipated but pulled back afterward. Intervention may occur to protect the yen from significant depreciation. If the USD Index rises to 110, USD/JPY could target 160 or higher.
EUR/JPY tested 163.800, contradicting prior expectations of resistance below 163. A move above 164 could turn the outlook bullish, while a drop below 163 raises the possibility of a decline toward 160.
AUD/USD
The pair has stabilized above 0.62, with potential upside toward 0.6300–0.6350. A decisive break below 0.62 would shift the outlook lower.
Crude Oil
With the USD strengthening, crude prices have declined and may drop further to 67 in the coming weeks. The 72–67 range is likely to persist for some time.
Dow Jones Index
The index has slowed its decline, with initial attempts to rebound toward 42,800 failing to hold intraday gains. Support at 42,100 is crucial for recovery; otherwise, further declines toward 41,500–41,300 are possible.
The overall landscape remains uncertain as many currency pairs and markets await confirmation of mid-term trends after breaking critical support/resistance levels.
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Kevin Cao
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Technical Outlook: Uncertain Trends Across Markets
Hong Kong | 2024-12-20 14:23
USD Index and EUR/USD
The USD Index extended gains to 108.485, driven by strong U.S. GDP data. If momentum persists, targets of 110 for the USD Index and 1.0330 for EUR/USD are possible.
EUR/USD is trading below 1.04, with support around 1.0330–1.0300. A breach below this zone could reinforce bearish momentum.
USD/JPY and EUR/JPY
USD/JPY surged to 157.929 earlier than anticipated but pulled back afterward. Intervention may occur to protect the yen from significant depreciation. If the USD Index rises to 110, USD/JPY could target 160 or higher.
EUR/JPY tested 163.800, contradicting prior expectations of resistance below 163. A move above 164 could turn the outlook bullish, while a drop below 163 raises the possibility of a decline toward 160.
AUD/USD
The pair has stabilized above 0.62, with potential upside toward 0.6300–0.6350. A decisive break below 0.62 would shift the outlook lower.
Crude Oil
With the USD strengthening, crude prices have declined and may drop further to 67 in the coming weeks. The 72–67 range is likely to persist for some time.
Dow Jones Index
The index has slowed its decline, with initial attempts to rebound toward 42,800 failing to hold intraday gains. Support at 42,100 is crucial for recovery; otherwise, further declines toward 41,500–41,300 are possible.
The overall landscape remains uncertain as many currency pairs and markets await confirmation of mid-term trends after breaking critical support/resistance levels.
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