01/12 Market repot

【GBPUSD】

The price of GPBUSD has reached its two highest points and this continued uptrend has made the bulls of the pound quite strong. The Bank of England took the lead in raising interest rates in 2021 and acted earlier than other central banks in the G7. The market currently expects the Bank of England to raise interest rates twice in 2022 and another rate hike in 2023. From the technical line, the Alligator shows a golden cross while the KD shows a high-end figure. These are conditions that show the strength of the bulls.

GBPUSD-H4

Resistance 1: 1.35200/ Resistance 2: 1.35800

Support 1: 1.34780/ Support 2: 1.33750/ Support 3: 1.32780

【XAUUSD】

Fed Chairman Jerome Powell attended a hearing in the US Congress and pointed out that there were differences in the economy before and after the epidemic. Before the epidemic, the unemployment rate was the lowest in the United States in 50 years. The December 2021 non-farm payrolls data of 199,000 people is the smallest increase in 2021. However, the unemployment rate of 3.9% is still the lowest figure since 2020. This indicates that the job market is still good. In the future, the Fed will ensure a strong and resilient financial system. Regardless of what he says, it seems that gold has risen again to break through $1800 per ounce. The line chart of technical analysis at this stage looks strong, with the Alligator showing a golden cross and KD high-end figure. Both of these are conditions that show the strength of the bulls.

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

【USOIL】

According to market intelligence firm Kpler data, China is currently the world's largest crude oil importer. In order to make up for supply chain demand, China will buy 324 million barrels of crude oil from Iran and Venezuela in 2021. These countries are countries subject to Western sanctions. Crude oil prices continue to be bullish, with the price of crude oil per barrel at $80 with the market demand still high and supply still insufficient. The technical line of Alligator shows a golden cross while the KD shows a high-end figure. These shows the strength of the bulls.

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

【Dow Jones Index USA30】

The U.S. Dow Jones index fell slightly in the first half. After that, there was a pull up which was led by technology stocks. Powell said that he would take the necessary steps to curb the rapid growth of inflation and possibly raising interest rates more times if necessary. Alligator is currently showing a death cross while the KD shows a high-end figure. These technical lines contradict each other. There was a period of sorting before moving in a general direction.

Dow Jones Index USA30 –H4

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

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

OnePro Special Analyst

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