1. Forex Market Insight
EUR/USD
In terms of growth and supply chain, the market is currently indifferent to many of the risks created by Omicron. Low holiday volumes also mean that market moves may be exaggerated. Overall, the dominant factor at the end of the year is capital flows, not fundamentals. During this interval, the euro fell by 0.21% to 1.1325 against the dollar, after falling by 0.4% before.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Today, pay attention to the suppression of the 1.1357-line. If the euro runs stably below the 1.1357-line, then pay attention to the support at the lower 1.1315 and 1.1267 positions. If the euro breaks through the 1.1357-line, then pay attention to the suppression at the 1.1378 and 1.1401 positions.
GBP Intraday Trend Analysis
Fundamental Analysis：
The pound rose by 0.07% against the dollar to 1.3499 after the U.K. released strong December housing price data, while the year-end capital flows provided support for it.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound today is mainly focused on the 1.3522-line. If the pound runs below the 1.3522-line, then pay attention to the support at 1.3450 and 1.3409. If the pound runs above the 1.3522-line, then pay attention to the suppression at the 1.3574-line.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Spot gold fluctuated within a narrow range, holding most of the overnight gains and trading near $1816.
Meanwhile, weaker U.S. bond yields and the worsening of the Covid-19 epidemic helped gold prices stand above the 1800-mark again, and short-term market bullish sentiment increased.
Gold prices are expected to swing higher; but institutions in the medium and long term are still bearish on the aftermarket. There is no important economic data out this trading day, but on the last trading day of 2021, investors need to pay attention to the brokerage position adjustment situation, and pay attention to the final closing price on the impact of the technical outlook of the market.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Today, gold pays attention to the 1819-line. If the price of gold runs stably below the 1819-line, then pay attention to the suppression of the 1812 and 1804 positions. If the price of gold breaks through the 1819-line, it will open up further upward space. At that time, pay attention to the support of 1831.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
U.S. oil is currently trading at $76.36 per barrel, with oil prices closing slightly lower on Thursday, 30th December 2021 as the market expects fuel demand to be maintained despite the spike in Omicron variant infections and the OPEC+ formed by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to continue to increase production in a small and incremental manner.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
Today, oil prices pay attention to the 75.04-line. If oil prices run above the 75.04-line, then pay attention to the suppression of the 76.89 and 78.92 positions. If the oil price breaks below the 75.04-line, then pay attention to the support at the 73.52 and 72.77 positions.
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.
