MARKET ANALYSIS: DOW JONES, EUR/USD, GBP/USD, USD/JPY

MARKET WRAP: FOREX

The U.S. dollar index rebounded to 101.24.

EUR/USD fell 45 pips to 1.1058. USD/JPY declined 43 pips to 141.40. GBP/USD dropped 64 pips to 1.2730, and AUD/USD was down 17 pips to 0.6826. USD/CHF gained 21 pips to 0.8450. USD/CAD added 23 pips to 1.3230.

In Canada, the CFIB business barometer climbed to 47.04 in December (vs 45.00 expected). Bitcoin lacked upward momentum, slipping below the $43,000 handle.

MARKET ANALYSIS: DOW JONES, EUR/USD, GBP/USD, USD/JPY

Dow Jones (CME)

• Intraday: the upside prevails.

• Pivot: 37,930.00

• Preference: Long positions above 37,930.00 with targets at 38,120.00 & 38,200.00 in extension.

• Alternative scenario: Below 37,930.00 look for further downside with 37,820.00 & 37,700.00 as targets.

• Comment: The next resistances are at 38,120.00 and then at 38,200.00.

EUR/USD

• Intraday: watch 1.1050.

• Pivot: 1.1090

• Preference: Short positions below 1.1090 with targets at 1.1050 & 1.1030 in extension.

• Alternative scenario: Above 1.1090 look for further upside with 1.1110 & 1.1130 as targets.

• Comment: A break below 1.1050 would trigger a drop towards 1.1030.

GBP/USD

• Intraday: key resistance at 1.2760.

• Pivot: 1.2760

• Preference: Short positions below 1.2760 with targets at 1.2710 & 1.2690 in extension.

• Alternative scenario: Above 1.2760 look for further upside with 1.2780 & 1.2800 as targets.

• Comment: The upward potential is likely to be limited by the resistance at 1.2760.

USD/JPY

• Intraday: the upside prevails.

• Pivot: 141.00

• Preference: Long positions above 141.00 with targets at 141.80 & 142.20 in extension.

• Alternative scenario: Below 141.00 look for further downside with 140.60 & 140.25 as targets.

• Comment: The RSI advocates for further upside.