01/05 Market report

【EURUSD】

ECB reiterated that it is very unlikely to raise interest rates in 2022. 

The world currently has a problem with Qualcomm expansion. 

The current planning of the euro area is to accelerate the withdrawal of the bond purchase program. 

The euro is the hardest hit area of the epidemic so it is difficult to say whether the epidemic will affect their economy again. 

Even if the ECB wants to slowly withdraw the funds in the market, it seems that the pace cannot be too fast.

EURUSD continues to consolidate with technicals showing that Alligator's three lines are tangled together and KD moving up and down like a headless fly. 

In short, the euro is a consolidation pattern at this stage. 

Traders are advised not to chase the order.

EURUSD -H4

Resistance 1: 1.13500 / Resistance 2: 1.13800 / Resistance 3: 1.14500

Support 1: 1.12500 / Support 2: 1.12200 / Support 3: 1.11800

【USDJPY】

The price of USDJPY is soared. 

This means that the Japanese coin is currently at their lowest price since 2017. 

Many would not expect that the Japanese dollar can go lower! It is even hard to find a resistance point to use on the weekly line to make an analysis.

With the US dollar expected to raise interest rates in 2022 and the US dollar at a relatively low price, Morgan Stanley and JPMorgan Chase and other brokers have taken measures to sell The Yen and buy the US dollar. 

This has dealt another blow to the Japanese currency.

From the technical line type, because it is a new high, traders on USDJPY should adopt a protection mechanism that does not go against the trend in the short term. This new high will definitely drive technical analysis to a high figure or an indication of upward trend. In short, traders are advised to follow the trend, otherwise to buy the yen later.

USDJPY -H4

Resistance 1: 115.520 / Resistance 2: 116.200

Support 1: 114.950 / Support 2: 114.680 / Support 3: 113.150

【GBPUSD】

The unexpected interest rate hike in the United Kingdom in December 2021 made the market think that the Bank of England should not only raise interest rates once and that the rate of interest rate hikes in the United Kingdom in 2022 should not be lesser than the United States. 

This is due to GBPUSD being a relatively strong currency compared to other non-US currencies.

GBPUSD is basically a line chart that is on the high. 

A trend style trade strategy should be much easier to do than a counter-trend trade strategy.

GBPUSD-H4

Resistance 1: 1.35200 / Resistance 2: 1.35800

Support 1: 1.34780 / Support 2: 1.33750 / Support 3: 1.32780

【USOIL】

OPEC+ of the Oil Exporting Countries Organization decided to maintain the plan of increasing production by 400,000 barrels per day in a joint meeting with Russia. 

This is because although the new Omicron variant spreads very quickly, the impact on severe diseases seems to be limited. 

The crude oil meeting believes that the demand for crude oil will not be affected too much.

In terms of technical lines, the trend of crude oil is still in a bullish pattern with Alligator a golden cross and KD has becoming a death cross in the high figure, so overall it is indeed bulls. 

KD shows that there is a slight pullback. 

Traders are advised not to chase the high as following the trend will be better.

USOIL-H4

Resistance 1: 77.550 / Resistance 2: 78.420 / Resistance 3: 79.850

Support 1: 74.120 / Support 2: 73.050 / Support 3: 71.202

OnePro Special Analyst

Buy or sell or copy trade at www.oneproglobal.com

The foregoing is a personal opinion only and does not represent any opinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor.  

www.oneproglobal.com