Market Notes


Yesterday, Powell said the U.S. economy was ready for higher interest rates and a runoff of its asset holdings to combat inflation. But he said policymakers were still debating approaches to reducing the Fed balance sheet, and said it could sometimes take two, three or four meetings for them to m...

12 Jan 22 (Wed)

05:11 am

The US dollar showed a downward movement after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank $9 trillion balance sheet. The EURUSD pair moved up above 1.1365 main level. As long as the pair trades above 1.1365,...

12 Jan 22 (Wed)

05:04 am

Gold price stayed strong above 1805 main level, with the precious metal supported by expectations for higher inflation and volatility in financial markets. As long as the GOLD price stays above 1805 on a four-hourly basis, we will see the daily resistance level at 1829. On the downside...

11 Jan 22 (Tue)

02:09 pm

Fed Chair Powell may give clues as to the timing of monetary policy tightening, when he answers questions from the Senate Banking Committee as he seeks a second four-year term as head of the Fed. The USDCHF pair has extended gains above the 0.9186 main support level. As long as the pai...

11 Jan 22 (Tue)

02:01 pm

Focus on FED chair Powell speeches today. Jerome Powell heads to Capitol Hill for confirmation by the Senate in his position as Federal Reserve chair for a second term. The EURUSD pair is now trading above 1.1307 main level. As long as the pair trades above 1.1307, on a four-hourly b...

11 Jan 22 (Tue)

01:54 pm

Gold was up yesterday. Pullback in both the dollar and 10-year treasury yields are supporting gold prices. The Gold Price moved up above the 1805 major support level. As long as the price stays above 1805 on a four-hourly basis, we will see the daily resistance level at 1829. On the do...

11 Jan 22 (Tue)

04:34 am

The EURJPY pair is trading below the 131.26 key resistance level. As long as the price stays below 131.26 on a daily basis, we will follow the key support level at 130.23. On the upside, if the pair rises above 131.26, the next major resistance level will be at 132.07. Support : 130.23 - 1...

11 Jan 22 (Tue)

04:21 am

This week, we will closely monitor U.S. data, with the consumer price index and the Fed Beige Book due on Wednesday, followed by the producer price index a day later. As long as the GBPUSD pair stays below 1.3599, on a daily basis, we will follow 1.3517 as a support level. Otherwise, i...

11 Jan 22 (Tue)

04:15 am

Investors now await U.S. Federal Reserve Chairman Jerome Powell Senate Banking Committee hearing later in the day for fresh clues on the timetable and speed of policy normalization. The EURUSD pair is now trading below the 1.1365 main resistance level. As long as the pair trades below...

11 Jan 22 (Tue)

04:12 am

Gold price have been pressured by prospects of tighter monetary policy from the Fed and it is unclear what, if any impact, the Friday US jobs report will have on the central bank, which next meets Jan. 25-26 As long as the Gold price stays above 1785 on a four-hourly basis, we will see...

10 Jan 22 (Mon)

01:37 pm

Traders have priced a high chance of a rate hike in March. Investors will be waiting for clues from Federal Reserve chair Jerome Powell and governor Lael Brainard who will testify before Senate committees this week. The USDCHF pair moved up above the 0.9186 main support level. As long...

10 Jan 22 (Mon)

01:28 pm

The euro was down against the dollar with investors sticking to their view that the ECB is still far behind the Fed in the tightening cycle despite data showing euro zone inflation jumped to 5% in December. The EURUSD pair moved down towards 1.1307 main level. However, as long as the p...

10 Jan 22 (Mon)

01:20 pm

The Gold Price is now trading above the 1785 major support level. As long as the price stays above 1785 on a four-hourly basis, we will see the daily resistance level at 1805. On the downside, if the price breaks down below 1785, the next support level will be at 1763 Support : 1785 - 1763...

10 Jan 22 (Mon)

04:21 am

The EURJPY pair closed last week below the 131.26 key resistance level. As long as the price stays below 131.26 on a daily basis, we will follow the key support level at 130.23. On the upside, if the pair rises above 131.26, the next major resistance level will be at 132.07. Support : 130....

10 Jan 22 (Mon)

04:18 am

Focus on the 1.3599 key resistance level in the GBPUSD pair. As long as the pair stays below 1.3599, on a daily basis, we will follow 1.3517 as a support level. Otherwise, if the price rises above 1.3599, the next resistance level will be at 1.3688. Support : 1.3517 - 1.3392 - 1.3313

10 Jan 22 (Mon)

04:15 am

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