Market Research and Analysis

Daily Market Analysis Report

Thu, 12 Jan 2017 03:54 AM GMT

Author: Senior Forex Analyst, Arslan Ali Butt

  • Daily Trading Range:
  • 1.0750 – 1.0300
  • Support & Resistance Levels:
  • R3: 1.0702
    R2: 1.065
    R1: 1.0619
    Pivot Point: 1.0567
    S1: 1.0515
    S2: 1.0484
    S3: 1.0432
  • Trading Recommendation:
  • (Still Active)
    Buy Above: 1.0575
    Take Profit:
    1st @ 1.0651
    Stop Loss @ 1.0550


EURUSD is trading at 1.0499, down -0.59% on the day, having posted a daily high at 1.0568 and low at 1.0454. The pair has traded under a sharp bearish bias due to well-known fundamental variables influencing the once booming European Union. The U.S Dollar is commencing to come off and missing ground across the board as Trump offers the headway that he is heading into his commencement just 9 days away. Trump at a press conference began to publish a few number of business deals taking place in the United States, demonstrating there is a high spirit, and Trump will be the biggest jobs producer that god ever built.

12 Jan EUR
Fundamental Overview

Donald Trump held his first press conference since winning the presidency on Wednesday, touching on many of the issues that will dominate the opening weeks of his presidency. Looming over the proceedings was a newly-published, and entirely unverified, dossier claiming the Russian government had collected compromising information on him. Mr. Trump blasted the intelligence community and media for allowing the documents to become public, before moving on to his business dealings and his priorities upon taking office. Mr. Trump says it is a “disgrace” that information that should have been restricted to the intelligence community made its way into media reports.


  • French Final CPI m/m
  • Italian Industrial Production m/m
  • Industrial Production m/m
  • ECB Monetary Policy Meeting Accounts


  • President-Elect Trump Speaks
  • FOMC Member Dudley Speaks

Technical Overview

EURUSD consolidates below 1.0600 after trading mixed on Wednesday. The pair maintained a strong support at 1.0480 as in previous week it pulled back higher from this level. Currently, the pair is holding below a 50% retracement at 1.060 in a daily chart and it is very likely to held below this level. The RSI value has shifted to 60 from 65 in H4. Moreover, the pair has a resistance around 1.0604 and 1.0665, while the intra-day support prevails at 1.0577 and 1.0530.

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