Volumetric analysis on January 11

EUR/USD

With a downward correction, this pair did not experience much support in the first zone, which we talked about yesterday. This does not indicate that there is no upward trend. This suggests that buyers have no special initiative. But measuring the volume that has traded on currency futures, we conclude that the maximum value is still in the range of 1.1475-1.144 and only the appearance of the price below 1.1410 will indicate the absence of an upward trend. Today you can try to implement the second part of yesterday's idea. Wait for the corrective decline to 1.1475-1.1410, find a good entry point there and buy with a target of 1.1535. The goal was revised, since it was yesterday at 1.1535 that there was activity, which today may not give rise to more. Although, if you have remained in positions since yesterday, then you can wait for the previous targets of 1.1600, you just have to be prepared, that we will not fly to the target quickly.

Gold

The price of gold has been rising for a long time and quite confidently. And the reason for this may be a turbulent situation in the markets as a whole. The lack of a budget for building a wall between the US and Mexico paralyzes the work of the US government. Greater volatility in the US market and uncertainty between the US and China also alarm investors. From a technical point of view, the maximum volume is in the range of 1270-1298. This is quite a wide range, but in view of the current political situation, and also the fact that the trend is generally upward, we can say that the preferred movement is the continuation of growth. From here we conclude that it is worth buying an asset after a manifestation of buyers' initiative, a breakdown of 1298 and a corrective pullback down. This purchase can be oriented on round numbers 1300 or 1305. And you can leave until the economic situation improves. You can also consider buying if we see a corrective decline in support of 1282-1270. In this case, the goal for the purchase is better to set the level of 1293.

 


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