Daily Market Report: January 21, 2022
Latest events and figures - make your trading smarter by following the daily summary of the hottest market news and announcements.
January 21, 2022
Gold gains; Oil edges lower
US stocks were lower after the close on Thursday, as losses in the consumer services, basic materials and technology sectors led shares lower. At the close in the NYSE, the Dow Jones Industrial Average lost 0.89% to hit a new 1-month low, while the S&P 500 index lost 1.10%, and the NASDAQ Composite index fell 1.30%.
The RSI has broken down its 30 level.
For short positions below 35270, look for targets at 34300 and 34000 in extension.
In the event of an upside breakout above 35270, look for a further upside with 35650 and 36000 as targets.
USDCAD traded higher, closing at the rate of 1.2503.
The RSI advocates for further upside.
For long positions above 1.2480, check out targets at 1.2525 and 1.2545 in extension.
If the below slides below 1.2480, look for a further downside with 1.2465 and 1.2450 as targets.
Gold gains as inflation woes continues to persist across the major economies.
The immediate trend remains up but the momentum is weak.
If the price climbs above 1828.00, look for targets at 1848.00 and 1856.00 in extension.
Should the rate slip below 1828.00, look for a further downside with 1822.00 and 1816.00 as targets.
Oil edged lower on Thursday, posting slim losses after several days of strength that pushed benchmarks to seven-year highs due to concerns about tight supply.
The RSI has broken down its 30 level.v
For short positions below 85.15, seek out targets at 83.60 and 82.95 in extension.
If the price increases above 85.15, look for a further upside with 86.25 and 87.10 as targets.
EUR/USD trades flat after dovish ECB messaging.
The RSI is bearish and calls for further decline.
If the price slides downwards below 1.1335, look for targets at 1.1290 and 1.1275 in extension.
Should the rate climb above 1.1335, look for a further upside with 1.1350 and 1.1365 as targets.
GBPUSD moves lower, closing at the final rate of 1.3594.
The RSI calls for a new downleg.
Should the rate dip below 1.3620, check for targets at 1.3570 and 1.3550 in extension.
If the price moves above 1.3620, look for a further upside with 1.3640 and 1.3660 as targets.
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