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EURUSD and GBPUSD are still under dollar pressure

EURUSD and GBPUSD are still under dollar pressure

EURUSD chart analysis

During the Asian session, the euro rose against the dollar after withdrawing on Friday. On Friday, the belief that the Federal Reserve could raise reference rates faster and more aggressively, in essence, once again inspired the US currency. Some of the leading people in the financial industry talked about the 6-7 increase this year, and some already talked about the 0.5% increase in March. The euro is currently being exchanged for $ 1.14160, which represents a 0.07% rise in the European common currency since the opening of trading tonight.

Bullish scenario:

  • It requires new aggressive integration and a new shift from current support to 1.14000.
  • Supports MA20 and MA50 moving averages in the 1.13000-1.13500 zone.
  • It then returns to the 1.15000 resistance zone and the trendline above creates additional pressure.
  • The break above boosts bullish optimism and leads us to the next resistance zone of 1.16000.

Bearish scenario:

  • We need to continue with the current negative integration and return to the 1.13000-1.135000 support zone.
  • Break the following to move on to the next potential support zone in 1.12000, where you will test last year’s minimums.

eurusd-20220117

GBPUSD Chart Analysis

The pair GBPUSD encountered a failure in the form of a daily moving average of MA200, the price stopped at 1.37480 and then there is a current withdrawal at 1.36650. It is possible to pull for better support on the chart.

Bullish scenario:

  • A new positive integration is needed to retest the MA200 moving average.
  • Our main goal is psychological resistance at 1.4000. The break above will strengthen the bullish scenario, and our next goal is 1.38000, the highest before October.

Bearish scenario:

  • This negative integration needs to continue. This will separate it from the MA200 and lead you to the next support for 1.36000.
  • In the zone around 1.35000, support is seen on the MA20 moving average.
  • And if she doesn’t do her best, move on to the next one at 1.34000.
  • Due to bearish pressure, large-scale support cannot be ruled out at 1.32000 from December last year.

gbpusd-20220117

Market overview

UK news

House price In the UK, the fastest pace since 2016 has risen in January, with the largest number of sellers ever entering the market and more inquiries from potential buyers, data from real estate website Rightmove showed on Monday. I did.

House prices rose 6.3% in December and then 7.6% year-on-year in January. This was the highest annual price increase recorded by Rightmove since May 2016.

According to the real estate website, this month’s numbers are comparable to the extraordinary decline in January last year, but demand prices have traditionally been in January as the rush to pass the March deadline for customs has begun to slow. Rose. The number of buyers inquiring about homes increased by 15% compared to the same period last year.

Tim Banister, Director of Property Data at Rightmove, said: With that in mind, 2022 will show early signs of a more balanced market.

EU news

Italy’s consumer price index rose in December, as initially estimated, as final data from the Statistics Bureau Istat showed on Monday. As estimated, consumer price inflation rose from 3.7% in November to 3.9% in December.

Initial estimates show that consumer prices rose 0.4% each month. Core inflation, excluding energy and raw foods, rose from 1.3% last month to 1.5%. In 2021, average consumer prices rose 1.9% after falling 0.2% in 2020. Core inflation rose from 0.5% in 2020 to 0.8%.

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EURUSD and GBPUSD are still under dollar pressure

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