Daily Market Report: January 11, 2022
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January 11, 2022
US stocks mixed; Gold edges higher
US stocks were mixed after the close on Monday, as gains in the healthcare, technology and consumer goods sectors led shares higher while losses in the industrials, consumer services and basic materials sectors led shares lower. At the close in the NYSE, the Dow Jones Industrial Average fell 0.45%, while the S&P 500 index declined 0.14%, and the NASDAQ Composite index gained 0.05%.
The upward potential is likely to be limited by the resistance at 15920.00.
For short positions below 15920.00, look for targets at 15005.00 and 14710.00 in extension.
If there is an upward movement above 15920.00, look for a further upside with 16280.00 and 16640.00 as targets.
USD/CHF surged 0.9% on Monday night from under 0.9200 to current levels around 0.9270 for the first time since mid-December.
The RSI is bullish and calls for further advance.
In the event of an upside breakout above 0.9240, with targets at 0.9295 and 0.9315 in extension.
For positions below 0.9240, look for a further downside with 0.9220 and 0.9200 as targets.
Gold futures edged higher on Monday, reversing earlier weakness after Treasury yields and the US dollar fell from their intraday highs. The direction of the February Comex gold futures contract early Tuesday is likely to be determined by trader reaction to $1793.00.
The RSI advocates for further upside.
For long positions above 1790.00, check out new targets at 1815.00 and 1822.00 in extension.
If the price dips below 1790.00, look for a further downside with 1782.00 and 1774.00 as targets.
Oil prices dipped but held onto to recent gains, having climbed 5% last week helped in part by supply disruptions from the unrest in Kazakhstan and outages in Libya U.S. crude fell 0.85% to $78.23 per barrel.
As long as 79.30 is resistance, look for choppy price action with a bearish bias.
A sell opportunity could emerge if the price falls below 79.30, with targets at 77.85 and 77.15 in extension.
Should the rate surpass 79.30, look for a further upside with 79.85 and 80.45 as targets.
EUR/USD Price Analysis Stays on the defensive mode above 1.1300 EUR/USD consolidates Monday’s losses above 1.1300, around 1.1330 during Tuesday’s Asian session.
The RSI advocates for further upside.
In the case of a price increase above 1.1305, with targets at 1.1345 and 1.1365 in extension.
If the price drops below 1.1305, look for a further downside with 1.1290 and 1.1275 as targets.
GBP/USD reverses the previous day’s pullback from two-month top. GBP/USD pares the previous day’s losses around 1.3580 amid Tuesday’s Asian session.
The RSI is bullish and calls for further upside.
For long positions above 1.3550, with targets at 1.3600 and 1.3620 in extension.
If the price slides below 1.3550, look for a further downside with 1.3530 and 1.3510 as targets.
Customer Notice: The charts are provided by Trading Central, which is a respected third party research provider. The information provided should not be considered as trading or investment advice. 1Market provides Trading Central chart analysis to support clients in their trading decisions, which should be independently evaluated. The recipient acknowledges that he is solely responsible for his decisions. The analysis offered reflects the views of Trading Central and are subject to change at any time. Past performance of a financial asset is not a reliable indicator of its future performance. 1Market cannot be held liable for any information provided by Trading Central. 1Market makes no representation and assumes no liability as to the accuracy or completeness of the information provided nor any loss arising from any investment based on this material, forecast or other information supplied by an employee of 1Market, a third party or otherwise.
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