S&P 500 index Wave Analysis 22 January 2025

- S&P 500 index broke resistance levels 6000.00 and 6060.00

- Likely to rise to resistance level 6110.00

——————
FxPro. Trade Like a Pro. | Subscribe

USDCAD Wave Analysis 22 January 2025

- USDCAD reversed from pivotal support level 1.4290

- Likely to rise to resistance level 1.4455

——————
FxPro. Trade Like a Pro. | Subscribe

🗓 Economic Calendar at 2025/01/23 (GMT)

08:00 All World Economic Forum Annual Meetings Actual: День 4

13:30 🇺🇸 ⚡️ Unemployment Claims — Exp: 220K Actual: 223K

13:30 🇺🇸 Continuing Claims — Exp: 1860K Actual: 1899K

13:30 🇨🇦 Retail Sales — Exp: 0.2% | 0.1% Actual: 0.0% | -0.7%

16:00 🇺🇸 ⚡️ President Donald Trump Speaks

17:00 🇺🇸 Crude Oil Inventories — Exp: -400K Actual: -1.017K

23:30 🇯🇵 ⚡️ National Consumer Price Index

23:30 🇯🇵 National Consumer Price Index Ex-Fresh Food — Exp: 3.0%


[Updated in real time]

🗓 Economic Calendar at 2025/01/24 (GMT)

03:23 🇯🇵 BOJ Outlook Report

03:23 🇯🇵 ⚡️ Overnight Call Rate — Exp: 0.50% Actual: 0.50%

03:23 🇯🇵 ⚡️ Monetary Policy Statement

06:30 🇯🇵 ⚡️ BOJ Press Conference

08:00 All World Economic Forum Annual Meetings

08:15 🇫🇷 Manufacturing PMI — Exp: 42.4 Actual: 45.3

08:15 🇫🇷 Services PMI — Exp: 49.5 Actual: 48.9

08:15 🇫🇷 PMI Composite — Exp: 47.7 Actual: 48.3

08:30 🇩🇪 Manufacturing PMI — Exp: 42.9 Actual: 44.1

08:30 🇩🇪 Services PMI — Exp: 51.1 Actual: 52.5

08:30 🇩🇪 PMI Composite — Exp: 48.2 Actual: 50.1

09:00 🇪🇺 Manufacturing PMI — Exp: 45.6 Actual: 46.1

09:00 🇪🇺 Services PMI — Exp: 51.4 Actual: 51.4

09:00 🇪🇺 PMI Composite — Exp: 49.7 Actual: 50.2

09:30 🇬🇧 Manufacturing PMI — Exp: 46.9 Actual: 48.2

09:30 🇬🇧 Services PMI — Exp: 50.8 Actual: 51.2

09:30 🇬🇧 PMI Composite — Exp: 50.0 Actual: 50.9

10:00 🇪🇺 ⚡️ ECB President Christine Lagarde Speaks

14:45 🇺🇸 Manufacturing PMI — Exp: 49.8 Actual: 50.1

14:45 🇺🇸 Services PMI — Exp: 56.4 Actual: 52.8

14:45 🇺🇸 PMI Composite — Exp: 55.6 Actual: 52.4

15:00 🇺🇸 UoM Consumer Sentiment — Exp: 73.2 Actual: 71.1

15:00 🇺🇸 Existing Home Sales — Exp: 4.19M | 1.0% Actual: 4.24M | 2.2%


[Updated in real time]

AUDCAD Wave Analysis 23 January 2025

- AUDCAD broke round resistance level 0.9000

- Likely to rise to resistance level 0.9080

——————
FxPro. Trade Like a Pro. | Subscribe

WTI crude oil Wave Analysis 23 January 2025

- WTI crude oil reversed from resistance level 78.00

- Likely to fall to support level 72.60

——————
FxPro. Trade Like a Pro. | Subscribe

🚀 Introducing TRUMP Coin CFD!

Now available at FxPro, TRUMP Coin is a meme-based cryptocurrency built on the Solana blockchain. Enjoy spreads as low as 17 cents, trade 24/7, and go long or short without owning the asset.

📈📉Start trading TRUMP Coin CFD with FxPro!

Trading Crypto CFDs involves significant risk. Ensure you understand the risks.

Not available to retail clients of FxPro UK.

#Shorts

#EURUSD: aiming 1.06

Crypto market has increased volatility

In the outgoing week, Bitcoin updated an all-time high, approaching a price of $110K and dragging the entire crypto market up with it. On Friday morning, capitalisation is moving up again, settling above $3.63 trillion. The market needs time to adjust to the current highs, and so far, there are more signs that this is a pause before further growth rather than the market hitting impenetrable resistance.

That said, the sentiment index has been cruising in the greed zone, only going to extreme greed once. As was the case in mid-December, high sentiment index values intensified the selling.

——————
FxPro. Trade Like a Pro. | Subscribe

Pro News Weekly: Dollar Drops, Gold Soars, and Bitcoin Hits New Highs





——————
FxPro. Trade Like a Pro. | Subscribe

Dollar’s accelerated decline and Indices’ growth

The US dollar accelerated its decline against its major peers, losing almost 2% to 107.1 this week before trimming some losses. Fundamentally, behind the dollar's corrective pullback is the resurgence of expectations that the Fed will cut its key rate once or twice later this year. We recall that in early January, markets were pricing in a 30% chance of no rate change.

On the tech analysis side, the DXY pullback from 110 to 108 is within the scope of a typical correction. Also in favour of a corrective scenario is that the dollar got support this week on the decline to the 50-day moving average, near the November peaks. A test of this could be repeated next week. A close of the week under 107.40 (50-day MA) would force a deeper decline to 106 or potentially even 105. The ability to quickly return to the 110 area would make the 115-116 area the next bullish target.

——————
FxPro. Trade Like a Pro. | Subscribe

Gold’s Renewed Push to Highs

The price of gold is rising for the fourth week, having added over 3% in the last five days. With the price of an ounce around $2780, the price has reached the area of historical highs at $2790. The dynamics indicate the completion of the corrective pullback and a new attempt to storm the historical highs.

Among the reasons for growth is the threat of tariffs from the US. These threats are building traction into security. It also caused the rest of the world to ramp up domestic stimulus, pressuring national currencies and pushing up commodity prices, including gold. The stalled dollar rally is also on the side of bullion buyers.

——————
FxPro. Trade Like a Pro. | Subscribe

What is next: Fed, ECB and BoC will deside on rates

The new week will be packed with monetary policy news.

Most observers expect the Bank of Canada to cut its key rate by 25 points to 3.0% on Wednesday, 29 January. The previous two cuts have been 50 pips each, but traders can't completely rule out hints of a pause or even keeping the rate on hold.

——————
FxPro. Trade Like a Pro. | Subscribe

GBPUSD Wave Analysis 24 January 2025

- GBPUSD broke resistance zone

- Likely to rise to resistance level 1.2555

——————
FxPro. Trade Like a Pro. | Subscribe

Bitcoin Wave Analysis 24 January 2025

- Bitcoin reversed from support zone

- Likely to rise to resistance level 109,675.00

——————
FxPro. Trade Like a Pro. | Subscribe

🗓 Economic Calendar at 2025/01/27 (GMT)

01:30 🇨🇳 ⚡️ Manufacturing PMI — Exp: 50.1 Actual: 49.1

01:30 🇨🇳 Non-Manufacturing PMI — Exp: 52.0 Actual: 50.2

08:10 🇪🇺 ⚡️ ECB President Christine Lagarde Speaks

09:00 🇩🇪 Ifo Business Climate — Exp: 84.9 Actual: 85.1

09:00 🇩🇪 IFO - Current Assessment — Exp: 85.4 Actual: 86.1

09:00 🇩🇪 IFO - Expectations — Exp: 84.0 Actual: 84.2

15:00 🇺🇸 New Home Sales — Exp: 669K | 0.8% Actual: 698K | 3.6%

21:25 🇨🇭 ⚡️ SNB Chairman Martin Schlegel Speaks


[Updated in real time]