【EURUSD】
The number of confirmed cases in the United States has increased by 180,000 per day due to the new variant coronavirus Omicron. Nearly 2000 Christmas flights were cancelled to Europe, the United States and the United Kingdom. These variables that can affect the overall global economy needs to be observed. Coupled with the United States Christmas holiday where the trading volume, trading is less suited for the long-term timeframe and more suited for short-term trading.
In terms of technical analysis, EURUSD is currently trading sideways while the oscillator continues to converge. Technical lines show an Alligator golden cross but KD death cross. The market looks to be in consolidation waiting for a breakthrough after convergence. It is not advisable to chase orders in the short and medium term.
EURUSD-H4
Resistance 1: 1.13834 / Resistance 2: 1.14644 / Resistance 3: 1.15122
Support 1: 1.12595 / Support 2: 1.12223 / Support 3: 1.11857
【USOIL】
The price of crude oil has always depended on the demand of the market. In the past few years, the global closure measures have greatly reduced the demand for crude oil and that resulted in a collapse in the price of crude oil. Many crude oil exporting countries have made a joint agreement to reduce production. The demand for crude oil has risen in recent times while the production cut agreement is still in place. This caused crude oil prices to rise. The Omicron variant looks to be contagious but the mortality rate is not as serious as before. The closure measures of various governments are still quite strict in order to avoid the deterioration of the virus so many investors are still watching for a clearer direction.
Technical analysis shows an Alligator golden cross and KD having a high-end figure. These are signs of a rather bullish bias. The short-term line broke through the consolidation range below. While the lower support force for crude oil is quite strong, this indicates that the market demand still has a certain degree of support.
USOIL-H4
Resistance 1: 76.680 / Resistance 2: 78.420 / Resistance 3: 79.850
Support 1: 69.380 / Support 2: 66.300 / Support 3: 64.300
【BITCOIN】
According to the research institute, 0.01% of BTC holders own 5 million bitcoins. This is equivalent to a circulation rate of 27%, and that means that many bitcoins are held by large users. Will Bitcoin continue to play its original intention as a fair currency that is not influenced by the government and large users？ In the future, investors may have to think.
Technical analysis shows an Alligator golden cross and KD golden cross, but the price is still below 52000. Even during the Christmas holidays when the trading volume is low, BITCOIN still shows a certain retail appeal. Investors are not advised to buy a lot until the trading volume recovers.
BITCOIN
Resistance 1: 51937.20 / Resistance 2: 53491.80 / Resistance 3: 55644.00
Support 1: 47273.50 / Support 2: 45479.80 / Support 3: 41773.00
【XAUUSD】
Gold prices rose again to $1800 with many other precious metals like silver and platinum. The main key of this is the decline of the dollar index. In the long run, the impact of inflation is still very large. With gold being a safe-haven currency commodity, many investors will still need to observe the impact of the epidemic.
Gold's current resistance is still at the recent high of $1813. This will be the next position to look out for in the near future. With an Alligator golden cross and KD death cross, it shows an unclear state without a clear trend. There is a resistance above. There are multiple supports below. It is not recommended for investors to chase orders.
XAUUSD-H4
Resistance 1: 1813.80 / Resistance 2: 1832.80 / Resistance 3: 1877.50
Support 1: 1785.00 / Support 2: 1770.20 / Support 3: 1752.50
OneProSpecial Analyst
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