【GBPUSD】
The British government reported on the 22nd that there were 106,122 new confirmed cases of the new coronavirus in the past 24 hours, which exceeded 100,000 for the first time in a single day in the United Kingdom
Technical analysis of the pound sterling:
Alligator death cross and KD golden cross where the position of the golden cross is close to the middle line. It is easier to rebound for falls when this type of divergence usually occurs. Therefore, a range trading strategy is actually more suitable.
GBPUSD – D1
Resistance 1: 1.33800 / Resistance 2: 1.35159
Support 1: 1.31594
【USOIL】
Last week's CFTC showed a net long decreased by 3452 in crude oil. This indicates that investors are less optimistic about the future of crude oil prices.
Technical analysis of crude oil:
Crude oil has recently fluctuated a lot and this is not suitable for a swing layout, as it is more advantageous to trade with a smaller time zone.
The longer-term technical shows an Alligator death crossover and KD strength shrinking at the high-end opening. This indicates that the strength of the long-term decline is relatively strong.
USOIL – D1
Resistance 1: 71.550 / Resistance 2: 75.680
Support point 1: 66.350 / Support point 2: 62.320
【XAUUSD】
CFTC's figures last week show the net bulls increased by 21514 and this actually indicates that investors think gold is still worth having. However, the recent rise in gold is not enough.
Technical analysis of gold:
Alligator's opening is quite small and this shows that a casual fall may easily cause a drop at the opening. KD opened from the high-end death crossover where the trend momentum of any bears will be relatively strong. Rising prices are vulnerable to pressure, so dips are an appropriate strategy.
XAUUSD-D1
Resistance 1: 1814.00 / Resistance 2: 1834.50 / Resistance 3: 1877.80
Support 1: 1752.00 / Support 2: 1721.50
【EURUSD】
Last week CFTC's long positions in the US dollar decreased by 3624 and this shows that investors are still worried about the Christmas holiday. The US dollar index has been slowly moving higher recently which is under pressure for non-US currencies.
The net change in the euro CFTC decreased by 3580 last week, indicating that investors are still not very optimistic about the future situation of the epidemic in the euro area.
Technical analysis in Europe and the United States:
Technical analysis from the perspective of Alligator Death Cross and KD Golden Cross contradict each other. This is coupled with the recent continuous sideways consolidation along a continuous shrinking of trading volume near Christmas Eve. This shows that the near-term support pressure may be quite effective, and a consolidation type of trading strategy should be more appropriate.
EURUSD – D1
Resistance 1: 1.13800 / Resistance 2: 1.15500
Support 1: 1.12200 / Support 2: 1.11800
OnePro Special Analyst – HERO
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