Daily Market Report: January 14, 2022
Today’s events & figures – Trade what you know Financial markets feed into world events and are their direct consequence. Keep a daily eye on our roundup of the day’s news, numbers and announcements.
January 14, 2022
Gold down; Oil price falls
US stocks were lower after the close on Thursday, as losses in the technology, healthcare and consumer goods sectors led shares lower. At the close in the NYSE, the Dow Jones Industrial Average fell 0.49%, while the S&P 500 index fell 1.42%, and the NASDAQ Composite index declined 2.51%.
The RSI is bearish and calls for further downside.
For short positions below 36380, seek out targets at 35880 and 35640 in extension.
Should the rate move above 36380, look for a further upside with 36510 and 36725 as targets.
USD/CAD settled below the support at 1.2500 and is trying to settle below the next support at 1.2475.
The RSI advocates for further upside.
For long positions above 1.2470, look for targets at 1.2540 and 1.2560 in extension.
If there is a downside breakout below 1.2470, look for a further downside with 1.2450 and 1.2430 as targets.
Spot gold dropped 0.2% to the rate of $1,822.08 an ounce.
As long as 1828.00 is resistance, look for choppy price action with a bearish bias.
A sell opportunity could arise if the price dips below 1828.00, with targets at 1811.00 and 1801.00 in extension.
Should the rate surpass 1828.00, look for a further upside with 1838.00 and 1848.00 as targets.
US crude fell 1.36% to the rate of $81.52 per barrel.
The RSI advocates for further decline.
For short positions below 82.45, check out fresh targets at 80.90 and 80.15 in extension.
If the price climbs above 82.45, look for a further upside with 83.10 and 83.90 as targets.
The EUR/USD dropped from two-month lows at 1.1481 to 1.1445, during the American session.
The RSI calls for a new upleg.
For long positions above 1.1445, look for targets at 1.1480 and 1.1500 in extension.
Should the price dip below 1.1445, look for a further downside with 1.1430 and 1.1415 as targets.
The British pound has extended its gains for a third straight day. In the European session, GBP/USD is trading at 1.3736, up 0.23% on the day.
The RSI calls for a rebound.
In the event of a price rise above 1.3700, check out targets at 1.3730 and 1.3750 in extension.
If there is a price slide below 1.3700, look for a further downside with 1.3685 and 1.3670 as targets.
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