1. Forex Market Insight
EUR/USD
The euro rose 0.13% against the dollar to $1.0649. Asia’s deregulation of the epidemic could give the euro an additional boost, which has climbed as the European Central Bank has taken a tougher stance on inflation than investors had expected.
Technical Analysis：
(EUR/USD 1-hour Chart)
We focus on the 1.0642 line today. If the EUR runs below the 1.0642 line, then pay attention to the support strength of the two positions of 1.0586 and 1.0529. If the strength of EUR rises over the 1.0642 line, then pay attention to the suppression strength of the two positions of 1.0697 and 1.0734.
GBP Intraday Trend Analysis
Fundamental Analysis：
As the UK market was closed on a public holiday, the pound traded subdued and fell to around $1.2031 against the dollar.
Technical Analysis：
(GBP/USD 1-hour Chart)
GBP is mainly focused on the 1.2147-line today. If GBP runs below the 1.2147-line, it will pay attention to the suppression strength of the two positions of 1.194 and 1.1762. If GBP runs above the 1.2147-line, then pay attention to the suppression strength of the two positions of 1.2311 and 1.2478.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Gold prices jumped to their highest in six months on Tuesday, 27th December 2022 as optimism pressured the dollar but climbing U.S. index Treasury yields limited gains. Spot gold jumped 1.1% to $1,816.69 an ounce, after touching $1,832.99 earlier in the session, the highest since June 27.
Technical Analysis：
(Gold 1-hour Chart)
Gold pays attention to the 1808-line today. If the gold price runs below the 1808-line, then it will pay attention to the support strength of the 1793 and 1783 positions. If the gold price breaks above the 1808-line, then pay attention to the suppression strength of the two positions of 1816 and 1832.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Oil prices held steady after touching a three-week high on Tuesday, 27th December 2022 after the resumption of operations at some U.S. energy plants shuttered by winter storms largely offset gains driven by hopes that easing restrictions on new crowns would boost demand recovery.
Russian President Vladimir Putin unveiled his response to the West’s imposition of price caps on Tuesday, signing a decree banning the supply of oil and oil products to countries imposing the caps for five months starting Feb. 1. Concerns about possible production cuts in Russia also brought support to oil prices.
Technical Analysis：
(Crude Oil 1-hour Chart)
Oil prices focus on the 79.07- line today. If the oil price runs above the 79.07 -line, then focus on the suppression strength of the two positions of 81.31 and 82.28. If the oil price runs below the 79.07 -line, then pay attention to the support strength of the two positions of 77.76 and 76.07.
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.
