01/07 Market report

【EURUSD】

January 7 is the release date of the US non-farm payroll data for December 2021. Currently, the Fed is most concerned about the 2 data - the inflation index and the employment data. According to past experiences in December, the employment data will be better because Christmas requires a lot of temporary workers. The market is expected to be better and this will cause the dollar to have a lot of fluctuations.

EURUSD has consolidated for a long time and is looking for a catalyst for a clear direction. Many will be looking to the non-farm for a break out.

EURUSD-H4

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

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

【USOIL】

The price of crude oil continues to be too high and showing a bullish pattern. In terms of technical line, both the Allligator and KD shows a golden cross. There is a strong upward trend for crude oil and it is not easy to short.

USOIL – H4

Resistance 1: 79.850 / Resistance 2: 81.820 / Resistance 3: 85.120

Support 1: 78.420 / Support 2: 77.550 / Support 3: 74.120

【XAUUSD】

Gold once again fell below $1800 an ounce. Alligator shows a death cross while the KD was also in the low-end figure. Today's drop directly breaks the bullish movement and testing the support. The technical line shows that the short line is also relatively high in comparison with the strength of the bears.

XAUUSD – H4

Resistance 1: 1814.50 / Resistance 2: 1832.20 / Resistance 3: 1865.50

Support 1: 1789.50 / Support 2: 1778.20 / Support 3: 1761.80

【BITCOIN】

As described in the Feds minute where the 2022 dollar rate hike being largely certain, cryptocurrency investors can probably expect that many investors will want to move their funds back to the dollar. Bitcoin has dropped below the recent low and came to a price near 43,000 USD per bitcoin.

From the perspective of the technical pattern, Bitcoin's recent bottom break shows a bearish pattern. Alligator shows a death cross while the KD shows a golden cross. It shows that the strength of the bears is slightly stronger. In the near term, it may be easy to spot rebounds caused by the rapid decline.

BITCOIN – H4

Resistance 1: 45439 / Resistance 2: 48569 / Resistance 3: 50890

Support 1: 41715

OnePro Special Analyst

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