01/17 Market report

【Dow Jones Index USA30】

On Friday, major U.S. bank stocks reported earnings and the results were not as expected. This resulted in a decline in stock prices and the Dow Jones Industrial Index was also affected. JPMorgan Chase reported earnings, profits and revenue exceeded expectations, but their trading revenue fell significantly and their stock price fell more than 6%. Citibank revenue was higher than expected but their profits fell causing the stock price fell nearly 1.3%. Only Wells Fargo was one of the few to resist the decline and their stock price rose nearly 3.7%. From the line of the Dow Jones index, it is currently in a rising trend. With Friday's decline, there is a situation of falling. However, it still maintained in the uptrend as the closing time closed on the trend line. At this stage, technical indicator shows that the three moving averages began to tangle and the opening of KD also began to shrink. Next week may not an upward trend as it could be easy to jump out of the intraday rising trend line.

USA30 –D1

Resistance 1: 36575.80 / Resistance 2: 36681.50 / Resistance 3: 36954.20

Support 1: 35941.20/ Support 2: 35768.20 / Support 3: 35635.80

【EURUSD】

According to the Federal Funds Rate Futures Session, the Fed may raise interest rates four times this year. The final interest rate may still be below 2% and that is far below the fed's previous interest rate hike forecast. The dollar index is quite weak this week and that represents strength in some of the non-US currencies. In terms of the euro, it has broken out of the recent consolidation range and that drove the overall pattern of technical analysis on the Internet. With the current three moving averages of the euro against the US dollar presenting a golden cross, and the KD showing a high-end figure, this indicates that the strength of the support is strong.

EURUSD -D1

Resistance 1: 1.14500 / Resistance 2: 1.14800 / Resistance 3: 1.15200

Support 1: 1.13800  / Support 2: 1.13500/ Support 3: 1.12800

【XAUUSD】

Next Monday is the Martin Luther Memorial Day. As the market will be closed for 1 day, some investors rushed to sell precious metals before the US holiday. On Friday the 14th,  gold prices closed lower. February delivery of gold futures fell by $4.90 or 0.3% and closed at $1816.50 per ounce. Gold is still oscillating in the middle of 1800 ~ 1820. It falls below $1800 sometimes but the current pattern is still showing an upward trend. The three moving average shows gold crosses while the KD shows a high-end figure. The upward technical landscape is looking strong.

XAUUSD – D1

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

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

【USOIL】

Citing reports from U.S. officials and social media on Friday, Russia began shipping tanks and other military equipment westward from its Far East base to Ukraine while diplomats negotiate a crisis between Russia and Ukraine. There will be a possible disruption in crude oil supply as tensions between Russia and Ukraine mount. The price of crude oil has hit a record high. Whether it is the technical analysis or price volume, it is still quite bullish. This is coupled with the recent problems of oil supplying countries and the demand has not decreased.

USOIL – D1

Resistance 1: 82.800 / Resistance 2: 85.120

Support 1: 81.820/ Support 2: 79.850/ Support 3: 78.420

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