US DX
91.917 -0.162 -0.21%
The US DX is sustaining its highs unreached since late 2005. Strong labor data in USA and fixed income interest is supporting Dollar strength. But the unexpected decline in U.S. Dec avg hourly earnings is seen as a break in the Fed watch over its decision to raise interest rates. The market is shrugging off suggestions of oversold and is bias a run at the 94.32 mark.!st resistance at 92.521 for now with strong support at 91.856 and 91.528.
EUR/ USD
1.18360 -0.00212 -0.18%
EUR the has broken the strong
support area between 1.2043 and 1.1877 (07/06/2010 low)
and now confirms further weakness to test the Key support area
at 1.1640 (15/11/2005) and 1.0765 (03/09/2003 low)
Crude Oil
45.42 -0.77 -1.58%
The CL on the Nymex has now hit a low of 45.36 with signals of further weakness not seen since the credit and housing market debacle in 2008. Overproduction and a languishing global economy is keeping prices at a market low. With no end in sight many traders are holding off long entries for fear the market may slide to the 2009 low 33.20. it would take a push above the monthly 46.55 to negate this fear of further price decline.
Gold
1232.95 +6.05 +0.49%
Gold has now technically extended its rally to prove a technical rebound.
Resistances are very firm at at 1238 (10/12/2014 high) and 1255. it would be a major change of events should Gold decide to test the 1255 and break through. any failure would lead Gold to resume its decline towards the 1168
(02/01/2015 low).
Pieter Bergli - DeLoren Trust Holdings
Forex education for all
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