RedstoneFx Analyst
by
on

Redstone Morning Analysis 1/4/2021

AUD/USD

Trend Theme:AUD/USD picks up bids from weekly low amid sour sentiment, mixed Aussie data.

Trend Review:AUD/USD bounces off fresh following its drop to the lowest in a week. The quote struggles to justify mixed data from Australia and confusing signals on risk catalysts but respects the latest optimism concerning the coronavirus (COVID-19) at home.

Today Advise:Bullish

Key Levels:

PPResistance* 0.7628 *0.7657 **0.7677 ***
0.7608Support*0.7578 *0.7558 **0.7529 ***

Position Datas:

————————————————————————————————-

USD/JPY

Trend Theme:USD/JPY holds in positive territory as USD battles back.

Trend Review:USD/JPY is steady in the Tokyo open on Thursday following a choppy last day of Japan’s financial year as the US dollar sank. The pair was falling just short of the 111 area with the US dollar giving back some substantial ground across the board. 

Today Advise:Bull

Key Levels:

PPResistance*111.03 *111.34 **111.72 ***
110.65Support*110.33 *109.96 **109.64 ***

Position Datas:

—————————————————————————————————

WTI-OIL

Trend Theme:WTI trading around $59.50 after OPEC+ jitters, French lockdown triggers decline.

Trend Review:Crude oil markets saw a sharp decline in the latter half of US trading hours. Front-month WTI crude oil futures contracts dropped from just under $61.00 to at one point below the $59.00 level, before managing to recover to end Wednesday futures trade close to $59.50. That meant WTI lost about $1.0 or about 1.6% on the session.

Today Advise:Bullish

Key Levels:

PPResistance*60.79 *62.13 **63.08 ***
59.83Support*58.49 *57.54 **56.20 ***

Position Datas:

—————————————————————————————————

XAUUSD

Trend Theme:Gold steps back from 1710 immediate resistance.

Trend Review:Gold prices drop to $1706 during the latest pullback on early Thursday. The yellow metal’s failures to extend the previous day’s recovery moves beyond 100-HMA and a short-term resistance line joins recently weakening RSI.

Today Advise:Bullish

Key Levels:

PPResistance*1722.65 *1737.67 **1760.00 ***
1700.32Support*1685.30 *1662.97 **1647.95 ***

Position Datas:

Ready to trade?

Get started with your RedstoneFX account today.

Easy funding & withdrawals

No deposit fees^