1. Forex Market Insight
EUR/USD
Today’s narrow fluctuation is still limited to the upside in Europe and the U.S. amid a strong recovery in dollar demand, while a lack of liquidity is limiting further declines. The continued surge of the Covid-19 cases in Europe has created uncertainty for the economy, driving some safe-haven flows to the dollar, which is further supported by hawkish expectations from the Federal Reserve.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Today, pay attention to the suppression of the 1.1338-line. If the euro runs stably below the 1.1338-line, then pay attention to the support at the lower 1.1315 and 1.1267 positions. If the euro breaks the 1.1338-line, then pay attention to the suppression at the 1.1359 and 1.1378 positions.
GBP Intraday Trend Analysis
Fundamental Analysis：
The British pound rose by 0.44% against the dollar at one point to 1.3445, a new high since Nov. 22, extending last week’s 1.1% gain. The British government said the country will not implement further restrictions against the disease before the end of the year, despite the rapid spread of Omicron.
The Financial Times reported on Saturday, 25th December 2021, that the British Chancellor of the Exchequer, Rishi Sunak plans to cut tens of thousands of civil service jobs over the next three years, a move that would mean savings of 5 percent of the government budget over that period.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound today is mainly focused on the 1.3365-line. If the pound runs below the 1.3365-line, then pay attention to the support at the 1.3276 and 1.3186 positions. If the pound moves above the 1.3365-line, then pay attention to the suppression at the 1.3409 and 1.3450 positions.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Yesterday, gold prices welcomed three consecutive increases. The demand for hedging from the epidemic brought about by the safe-haven demand supported gold prices. In the days to come, we can pay attention to the U.S. October FHFA home price index.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Today, gold pays attention to the 1812-line. If the price of gold runs steadily below the 1812-line, then pay attention to the support at the positions of 1793 and 1784. If the price of gold breaks above the 1812-line, it will open up a further upward space. At that time, pay attention to the suppression of 1820.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Oil prices were strong yesterday, with U.S. oil breaking above the 75 mark, and rose by nearly 3% to a one-month high of $76.09/barrel.
Meanwhile, U.S. stocks hit a record high for the 69th time this year as investors weighed the rapid spread of the Omicron strain and signs that symptoms appear milder than previous variants. The market is banking on the limited impact of the Omicron variant on global demand in 2022 to boost oil prices.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
Oil prices are still paying attention to the 73.52-line today. If oil prices run below the 73.52-line, then pay attention to the support at 71.13 and 68.57. If the oil price breaks above the 73.52-line, maintain the idea of taking the trend to look more, and then pay attention to the suppressive strength in two positions at 75.69 and 76.89.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
