01/18 Market reprot

【EURUSD】

In the CFTC's open contracts, speculative long orders increased by 5288 and short orders decreased by 2271. This indicates that the market is more optimistic on the euro. After the euro area broke through the consolidation range, technical indicators show an Allligator golden cross. However, due to the appreciation of the US dollar, EURUSD dropped to the support price of the consolidation range. KD fell below the high-end figure and showed that the bears did not let the bulls grow so easily. The pull back to the support looks to be a good defensive point.

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】

Gold's CFTC open contracts shows speculative long orders decreased by 6481 and short orders decreased by 5137. This indicates that the recent large investors for gold is unoptimistic. The World Gold Council report said that short-term gold prices may be driven by central bank monetary policy but historical experience shows that the impact of interest rate hikes on gold prices is still limited. From the view of technical analysis, the Alligator shows a golden cross while the KD shows a death cross. These two contradict each other. At present, KD is leaving the high-end blunt area which means that the force looks to be slightly stronger. The key point to note is whether the price of 1800USD can be defended.

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

【BITCOIN】

Jack Dorsey, CEO of global fintech service Block, announced on his personal Twitter account on Jan 14 that the company will develop an open bitcoin mining system. Basically, this system makes it easier for miners to mine Bitcoins with a lower threshold. This means that the number of Bitcoins may increase in the future. Viewed from the technical line, both the Alligator and KD shows a death cross which indicates that the power of the bears is still very strong.

BITCOIN – H4

Resistance 1: 41715/ Resistance 2: 45439/ Resistance 3: 48569

Support 1: 40664/ Support 2: 39500

【USOIL】

The situation in 2022 for oil-producing countries continues. The maintenance of pipelines in Libya has led to a 500,000 barrels per day reduction in oil production. Kazakhstan's protest activities affecting crude oil exports, and the atmosphere in which Russia and Ukraine may go to war at any time... etc. Under many problems, the supply of crude oil makes the market deeply worried and that is reflected in the oil prices. The recent high trend record is strong and this drove the technical line to an Allligator golden cross while KD is also at a continuous high-end blunt.

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

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