Daily Analysis

[Zforex]

EUR/USD Breaks Above 1.1000 as Dollar Declines
The EUR/USD has surpassed the 1.1000 mark as the dollar continues its decline. The next targets for the pair are 1.1085, followed by 1.1170.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1170	1.1085	1.1000	1.0900	1.0850	1.0750

GBP/USD Bullish Trend Holds Strong Amid Pound's Uncertainty
The GBP/USD's bullish trend remains intact despite the pound's uncertainty after the latest UK economic data. Considering the weak performance of the dollar, the next target is at the 1.2800 level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

BoJ Member Comments Impacts Yen Movements, USD/JPY Hovers Around 142.00
The USD/JPY pair is presently fluctuating around the 142.00 area. An underperforming dollar may assist in breaking the support level, leading the pair toward the 138.00 area. However, the BoJ member's comments are still preventing the yen from experiencing any significant movements.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
148.00	146.50	144.00	142.00	140.00	138.00

Gold Nears Resistance at $2070, Solid Fundamentals Drive Bullish Outlook
The bullish outlook for gold continues, with the metal close to the resistance level of 2070 mark. Gold's strong fundamentals are supporting its price increase with the falling dollar and treasury yields helping in this direction, the outlook is bullish for gold and may continue the next year.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2100	2070	2036	2006	1980

WTI Oil Eyes $78 Target in Reversal Movement, Strong Resistance Ahead
WTI oil is currently experiencing a reversal movement, which is expected to reach its next target of 78 soon. This target is close to where the 50/200 MA are located, along with the Fibonacci level, forming a strong resistance level. As a result, the reversal is getting closer to eliminating the bearish price action-long outlook for oil.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
82.5	81	78	72.8	68	64.9

 

[Zforex]

EUR/USD Breaks Above 1.1100 with Potential for Correction
The EUR/USD currency pair has surpassed the challenging level of 1.1000 and is now trading above 1.1100, at the upper parallel of a long channel. This could potentially lead to a correction back. Despite this, the overall trend remains strong as the dollar continues to fall, indicating that it is likely to continue doing so.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1300	1.1200	1.1150	1.1000	1.0900	1.0850

Pound Surges Past 1.2800, Sets Sights on 1.2930
The GBP/USD has broken the resistance level of 1.2800 and is now moving towards the next resistance level of 1.2930. The pound, like the euro, benefits from the falling dollar while the trend remains strong and bullish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3140	1.3050	1.2930	1.2800	1.2630	1.2500

USD/JPY Breaks Below Crucial 142.00 Support, Targets 138.00
The USD/JPY pair broke below the support level of 142.00 which has been lasting for a long time. The next target is at the 138 area, which will pose another challenge for the pair.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
146.50	144.00	142.00	140.00	138.00	134.50

Gold Surges Beyond 2070, A New Bullish Trend in the Making
Gold has broken the 2070 area once again. If this week ends with a candle beyond this area, the gold will enter a new buying territory, a bullish trend, and reach a historical record where the 2140 area can be easily reached again.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2200	2140	2100	2070	2036	2006

WTI Oil Eyes Reversal Confirmation, Targeting $78 for Trend Reversal
WTI oil is attempting to confirm its reversal, where the 78 target is the next challenge to break for a confirmed trend reversal, making oil build on a new trend.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
82.5	81	78	72.8	68	64.9

 

[Zforex]

EUR/USD Correction Expected to be Temporary, Resumes Uptrend
The EUR/USD currency pair recently experienced a correction after encountering resistance at the upper level of a bullish channel and at the 1.1100 level. However, this correction is expected to be temporary as the dollar may continue its decline, allowing the pair to resume its upward trend.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1300	1.1200	1.1100	1.1000	1.0900	1.0850

GBP/USD Correction Near 1.2800, Bullish Trend Poised for Dollar-Driven Rise
The GBP/USD false breakout caused a correction near 1.2800. The trend is bullish, and the dollar's weakness may support the pair's rise.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Bearish Trend Continues, Breakout at 142.00
The USD/JPY pair is currently in a bearish trend following a breakout at 142.00, with the next target being the 138 area, which will be another challenge for the pair.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
146.50	144.00	142.00	140.00	138.00	134.50

Gold Correction at 2090 Level with Quest for New Historical Highs
Gold corrected from the 2090 level as it attempts to make a new historical high. All conditions support higher gold. Considering the falling dollar and Treasury yield levels, the bullish trend will likely continue higher.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2200	2140	2100	2070	2036	2006

WTI Oil Faces Two-Day Selloff, Next Support at 68
WTI oil has experienced a two-day selloff after reaching level 76, and a reversal is not yet in sight. The long-term bearish trend remains intact, and the next support is at 68 after touching the 72.8 level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
82.5	81	78	72.8	68	64.9

 

[Zforex]

EUR/USD Undergoes Correction Due to Risk-Off Sentiment
The EUR/USD experienced a significant correction due to the market's risk-off sentiment at the beginning of the year, and investors are waiting for new data this week. The next move will depend on market sentiment and data, specifically on how investors evaluate the strong pricing of a 150 basis points cut this year and the possibility of a first cut in March. DXY is hanging on a resistance area.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1300	1.1200	1.1100	1.0950	1.0900	1.0850

GBP/USD Faces Downward Pressure as Dollar Strengthens Formun Üstü
The GBP/USD has dropped as the value of the dollar continues to rise. The pair is close to the lower boundary of the bullish long channel. If it breaks down further, it may lead to more selling, while a potential rebound could push prices toward the 1.2800 resistance level.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.3050	1.2930	1.2800	1.2630	1.2500	1.2400

USD/JPY Rebounds Amid Dollar Strength, Testing Resistance at 142.00
The USD/JPY pair has been on a rebound for the past two days, due to the strength display of the dollar. While the 142.00 area may provide some resistance, there is a possibility that the price may continue to the next level of 144.00. However, it's important to note that this does not change the bearish trend that was established last year.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
146.50	144.00	142.00	140.00	138.00	134.50

Gold Tests Last Resistance Level After Rejecting 2090
Gold might test the last resistance level for new highs after rejecting the 2090 resistance level. The picture will become clearer once markets return fully and determine a direction.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2200	2140	2090	2050	2036	2006

WTI Oil Sustains Short-Term Bearish Trend, Long-Term Outlook Unchanged
WTI oil is continuing its short-term bearish trend, while the long-term bearish trend remains the same. The next support level is at 68 after reaching 72.8. High volatility is expected due to geopolitical factors.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
82.5	81	78	72.8	68	64.9

 

[Zforex]

EUR/USD Rebounds to December 18th Levels at 1.0900
The EUR/USD experienced a notable rebound today, retracing back to the level it held on December 18th, which was 1.0900. Key factors driving market dynamics include today's impact of PMI data and labor market indicators. Anticipated levels for the EUR/USD are poised at the 1.1000 mark for resistance, with a solid support base at 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD Shows Second-Day Recovery, Aiming for 1.2800 Target
The GBP/USD is recovering for the second day after touching the lower boundary of the bullish trend. Positive data trends supporting the pound could move it towards the next target at 1.2800.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2630	1.2500	1.2400

Potential Reversal in Sight for USD/JPY with Persistent Dollar Strength
The USD/JPY continued the rebound today touching the resistance level of 144.00. The general trend is still bearish but a strong dollar if it continues may lead to a reversal.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 1	Support 1
148.00	146.50	144.00	140.00	138.00	134.50

Gold Rebounds Modestly After 5-Day Selloff, Maintains Strength
Gold rebounded after a 5-day selloff, albeit moderately. The metal remains strong, with favorable fundamentals this year. Breaking the 2090 barrier will prove to be a new challenge.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2036	2006	1979

Geopolitical Factors Drive Volatility in WTI Prices, Bearish Trend Persists
WTI experienced volatile movement due to geopolitical factors. The resistance area lies at 74-76, while the support is at 68. The overall trend remains bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	76	72.8	68	64.9

 

[Zforex]

Investors Await EU and US Data for Direction as EUR/USD Hovers at 1.09500
The EUR/USD is currently hovering around 1.0950 as investors wait for today's data from the EU and the US to provide more direction. There is a possibility of volatility, with a resistance level at 1.1000 and a support level close to 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD Faces Uncertainty as 1.2800 Resistance Challenges Long Bullish Trend
The GBP/USD is currently unidirectional in the short term with clear price uncertainty. The long bullish trend faces a challenge from the 1.2800 resistance level and the down parallel of the channel acting as support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2630	1.2500	1.2400

USD/JPY Continues Rebound, Aiming for 146.00 Resistance
The USD/JPY rebound is ongoing, with the next resistance level at 146.00 being the target. The yen is influenced by the dollar's strength, and uncertainties loom over the Bank of Japan's (BoJ) future actions, considering the potential necessity to uphold their existing policy in response to recent earthquake-induced damage to the economy.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
152.00	148.30	146.00	144.80	140.00	138.00

Gold Holds Support at 2032, Anticipates NFP Data
Gold has found support at the 2032 level and is currently hovering around it. The market is anticipating today's NFP data. Potential resistance levels for gold are at 2050 and 2090, while the 2006 level serves as support. The general outlook for gold remains bullish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2032	2006	1979

WTI Faces Unpredictable Volatility, Lack of Market Consensus
WTI continues to exhibit unpredictable volatility as the market has yet to reach a consensus on the next direction for oil. The resistance area is between 74 and 76, while the support lies at 68. The overall trend remains bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	76	72.8	68	64.9

 

[Zforex]

EUR/USD Hovers at 1.0950 After Friday's Volatility; Eyes on 1.1000 Resistance
The EUR/USD continues hovering around the 1.0950 area close to the median line after a strong volatility on Friday. The next resistance level is at 1.1000 and the support level is close to 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD Faces Challenge at 1.2800 Resistance with Channel Support
The GBP/USD is currently in the price accumulation phase. The long bullish trend faces a challenge from the resistance level at 1.2800. The down parallel of the channel is acting as support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2630	1.2500	1.2400

USD/JPY Faces Resistance at 146.00, Performance Tied to Dollar Strength
The USD/JPY encountered resistance at 146.00. Although the rebound is limited, the pair's performance depends on the strength of the dollar. The Japanese Yen is currently weak, and the direction of the pair will be determined by the dollar's performance. The next resistance level is at 148.30, while the next support level is at 144.80.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
152.00	148.30	146.00	144.80	140.00	138.00

Gold Prices Decline with Next Support at 2006; Shift from Bullish to Neutral
Gold prices have decreased today, and the next support level is at 2006. Currently, the trend appears to be bearish, and gold seems to be under pressure from the rebound in the dollar and treasuries. The outlook for gold has shifted from bullish to neutral, indicating that it is entering a phase of uncertainty.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2032	2006	1979

WTI Crude Oil Prices Show Unpredictable Volatility Following Market Uncertainty
WTI crude oil prices are currently exhibiting unpredictable volatility, as the market is still divided on the direction oil prices will take next. The overall outlook remains uncertain due to unclear market fundamentals. The resistance area is currently between 74 and 76, while support can be found at 68. The trend is currently bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	76	72.8	68	64.9

 

[Zforex]

EUR/USD Keeps Hovering Around the 1.0950 level, Direction Still Unclear
The EUR/USD is trading around the 1.0950 level, close to the median line, without any clear direction or change from yesterday. The next resistance level is at 1.1000 and the support level is close to 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD Corrects After 4 Days, Faces a Challenge at the 1.2800 Level
The GBP/USD is currently in the price accumulation phase, where the pair is correcting after 4 days. The long bullish trend faces a challenge from the resistance level at 1.2800. The down parallel of the channel is acting as support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2630	1.2500	1.2400

USD/JPY Continues its Fall After the Japanese Inflation Data
The USD/JPY encountered resistance at 146.00 and is continuing its fall slightly after new data from Japanese inflation. The next resistance level is at 148.30, while the next support level is at 144.80.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
152.00	148.30	146.00	144.80	140.00	138.00

Gold Rebounded After the Bearish Trend, Eyes 2050 Potentially as the Next Resistance
Gold prices rebounded today after a short-term bearish trend. If the rebound continues, the next resistance level will be at 2050, but if it continues to decline, the next support level will be at 2006.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2032	2006	1979

Oil Outlook Still Uncertain Due to Unclear Market Direction
WTI crude oil prices are fluctuating, and the market is conflicted about the next direction. The overall outlook remains uncertain due to unclear market fundamentals. The resistance area is between 74 and 76, while support is at 68. The trend is currently bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	74	70	68	64.9

 

[Zforex]

EUR/USD Stalls in Non-Directional Movement Near 1.0950
The EUR/USD has been moving in a non-directional way for the past six days, hovering around the area close to 1.0950 which is near the median line. There has been no significant movement or change from yesterday. The next resistance level is at 1.1000, while the support level is close to 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD's Long Bullish Trend Faces Resistance with Channel Support
The GBP/USD is currently in the price accumulation phase where the pair is correcting for the second day. The long bullish trend faces a challenge from the resistance level at 1.2800. The down parallel of the channel is acting as support.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2630	1.2500	1.2400

USD/JPY Tests 145.00 for Breakout, Eyes Next Resistance at 148.30
The USD/JPY is testing the 145.00 level again for a breakout. The next resistance level is at 148.30, while the next support level is at 144.80.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
152.00	148.30	145.00	144.80	140.00	138.00

Gold Outlook Shifts to Neutral with Resistance at 2050
Gold prices have been attempting to recover for the second day following a short-term bearish trend. However, the current outlook is somewhat neutral. In case the rebound persists, the next resistance level will be at 2050. Conversely, if the prices keep declining, the next support level is at 2006.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2032	2006	1979

WTI Crude Oil Price Displays Unpredictable Unidirectional Swings

WTI crude oil price continues its volatile unidirectional movements, as the market is still divided on the direction oil prices will take next impacted by geopolitics tensions and slowing demand. The overall outlook remains uncertain due to unclear market fundamentals. The resistance area is currently between 74 and 76, while support can be found at 68. The trend is currently bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	74	70	68	64.9

 

[Zforex]

EUR/USD Shows Volatility with Recent Data
The EUR/USD has rebounded from the median line while today's data create volatility and strong movement. The next resistance level is at 1.1000, while the support level is close to 1.0850.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.1200	1.1100	1.1000	1.0900	1.0850	1.0750

GBP/USD in Conflict of a Breakout or Correction
The GBP/USD currency pair is currently approaching the resistance level of 1.2800. Today's data from the US may either support a breakout or a correction. If prices break out, they may reach 1.2930, but a correction could push prices back to 1.2630.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
1.2930	1.2800	1.2700	1.2650	1.2500	1.2400

Bleak USD/JPY Outlook Following Deteriorating Fundamentals
The USD/JPY made a breakout where the resistance level will be at 148.30 and the support at 144.00. The underperforming yen may continue to decline as the fundamentals deteriorate. The dollar's course will determine the pair's direction.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
155.00	152.00	148.30	145.00	144.80	140.00

Gold on Pause, Awaiting New Data
Gold prices keep hovering around the 2032 support area while waiting for today's data that will shape the precious metal’s course. In case the rebound continues, the next resistance level will be at 2050. On the other hand, if the prices keep declining, the next support level is at 2006.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
2140	2090	2050	2032	2006	1979

Crude Oil Shows No Direction Following Weak Demand

The WTI crude oil price continues its volatile, unidirectional movements as the market remains divided on the direction oil prices will take due to geopolitical tensions and weakening demand. The price continues to show a price concentration without direction. The resistance area is currently between 74 and 76, while support can be found at 68. The trend is currently bearish.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
81	78	74	70	68	64.9