The important expected news for this week: Market movements and fluctuations have a great influence on prices and trades.
In this report, we provide you with a summary of the most important events and news that are expected to occur this week.

Topic

Gold
Oil
The Dow Jones Index
GBPUSD
EURUSD
USDJPY

Economic Calendar

Gold

The markets are awaiting the US interest rate and the monetary policy statements presented by the members of the Monetary Policy Committee to investors,
the path of monetary tightening currently followed, and will Jerome Powell reduce interest rates next March, or will the Fed prolong the period?
We will witness many events that will directly affect the path of the US dollar.
On the other hand, there is a possibility of a reverse movement for gold.
With prices maintaining negative movement in light of the presence of the descending digital channel,
and with prices remaining below $2021, the decline is likely to extend to $2016 levels. If broken and traded below them, we may witness more negativity to visit $2000 and break $1995.

Oil

Oil prices increased during last week’s trading and exited the narrow price range in which they had been trading for 6 weeks and closed above $78 per barrel.
It had penetrated an important resistance level at $76, which represents the slanted resistance level of the upper border of the symmetrical triangle,
with strong momentum, on the daily frame, and Prices are expected to continue in the upward trend and reach the next resistance level of 80.00,
then the $85.00 level, which is the target of the technical model.
But if prices fall and break the support level of 75.20 downward, it will be a signal to fall to the next support level of 72.00-68.00.

The Dow Jones Index

The index is moving in an ascending price channel from the bottom of last November
rising from the support level of 36985, breaching the historical level of 37800 and stability above it, to current target levels of 38285.
If the decline below 37800 levels occurs again, and the ascending channel is broken downwards, then the trend will change, and the decline will target 36985 levels.

GBPUSD

The GBPUSD is moving in a narrow price range, above the support at 1.2610 and below the resistance at 1.2826,
in the form of a symmetrical triangle pattern with the bottom at the support level of 1.2494, and the top of the pivot level at 1.2686.
If prices rise and the resistance level 1.2826 is breached upward, it is expected to continue the rise upward to the next resistance levels 1.2826-1.3000.
However, if the pivotal level 1.2686 is broken downwards and closes below with a full candle and with strong momentum,
it will head downwards to visit the support level 1.2610. If it is broken, it is expected that the decline will continue until the next support 1.2494.

EURUSD

EURUSD Increased from a support level of 1.0820. With the formation of a wedge pattern.

If 1.0925 levels are breached with a 200-moving average, this rise will continue to 1.1015 levels.
However, if it breaches 1.0820 levels, the decline will continue to 1.0740 levels.

USDJPY

With the change in monetary policy between the US dollar and the Japanese yen, the dollar benefits from high-interest rates and prices move in a clear positive light.
This is one of the scenarios that may push prices to continue the current movement,
which is what US Federal Reserve Governor Jerome Powell may hint at by keeping US interest rates high until after next March.
We may then witness continued positivity for the US dollar.
In light of the prices maintaining the current upward trend and with the price returning above the 147.48 support,
with the price above the upper border of the ascending channel, the current rise is likely to continue to target 148.50, which is broken,
we may witness the main targets around 150.25-151.98.

Economic Calendar

Thursday, January 30
U. S. CB Consumer Confidence
U. S. Jolts Job Openings

Wednesday, January 31
Australia Consumer Price Index (CPI) QoQ

Germany Consumer Price Index
Australia Consumer Price Index (CPI) Index Number
U. S. ADP Employment Change
Canada’s Gross Domestic Product (GDP)
U. S. Interest Rate Decision
U. S. Federal Open Market Committee (FOMC) Statement
U. S. Federal Open Market Committee (FOMC) Press Conference

Thursday, February 01
OPEC Meeting
U. K. Interest Rate Decision
U. K Bank of England (BOE) Monetary Policy Committee (MPC) Meeting Minutes
U. K. BOE MPC Vote Cut
U. S. Jobless Claims
U. S. Manufacturing Purchasing Managers Index (PMI)

Friday, February 02
U. S.Nonfarm Payrolls

U. S. Average Hourly Earnings MoM
U. S. Average Hourly Earnings YoY
U. S. Unemployment Rate
U. S. CB Consumer Confidence

The important expected news for this week

The important expected news for this week

Related Topics