Trading with Venus logo

Get FREE Trade ideas:


Daily Analysis – Jan. 16th, 2015

Facebooktwittergoogle_plusredditpinterestlinkedinmail

Daily Analysis – Jan. 16th, 9:00am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.1735, 1.1886, 1.204
Support:  1.1580, 1.1431, 1.1200
Bias: Short. EUR has been trading in the range (1.886 – 1.1735). After testing the top of the range, price went all the way down to test the bottom (1.1580) before getting rejected there and coming back into the range. If the price moves through the 1.1580 level and holds below, there is an opportunity for a short trade.

Pair: GBPUSD

Resistance:  1.5200, 1.5265, 1.5326, 1.5400
Support:  1.5150, 1.5100, 1.5080, 1.5034
Bias:  short. GBP has been trading in the range (1.5033 – 1.5265). The price tested the top of the range but could not break above it.  After getting rejected at the top of the range, price has formed an inside range with a low of 1.5150. If the price breaks through this range, the next target is 1.5100.

Fundamentals

High Impact News scheduled for today:

  1. CPI m/m – 8:30am
  2. Core CPI m/m – 8:30am
  3. Prelim UoM Consumer Sentiment – 9:55am
  4. FOMC Member Williams Speaks – 11:00am

Indices and Commodities

DOW – down – 17,320.71
S&P500 – down – 1,992.67
Nasdaq – down – 4,570.82
Nekei – up – 16,864.16
FTSE100 – up – 6,499.78
DAX – up – 10,018.04

Gold – up – $1,268.30
Oil – up – $47.05

Facebooktwittergoogle_plusredditpinterestlinkedinmail


Get the FREE “3 Steps to Consistent Forex Profits” guide

I will never give away, trade or sell your email address. You can unsubscribe at any time.