Market overview

WHAT HAPPENED?

We’ve been trading within a narrow sideways trend for the past week. Now we’ve gained an exit in the downward direction and are positioning the accumulated volumes in short.

WHAT WILL HAPPEN: OR NOT?

We expect the downward movement to continue with minor corrections towards the buyer, as all large volumes are currently located above current prices.

The scenario may change with strong volume protection from the buyer, which we haven’t yet observed. The volume zone of $97,400-$96,300 has been rebuilt into a more global zone of $97,000-$94,300.

Selling zones: $103,000-$105,600 (accumulated volumes), $107,000-$109,000 (volume anomalies).

Buying zones: $97,000-$94,300 (maximum volumes of global sideways movement), $92,000-$90,000 (volume anomalies), $89,000-$86,300 (accumulated volumes).

IMPORTANT DATES


This week's macroeconomic developments:

• Monday, January 27, 15:00 (UTC) — publication of the U.S. Consumer Confidence Index;
Wednesday, January 29, 13:45 (UTC) — press conference of the European Central Bank (ECB);
• Wednesday, January 29, 14:45 (UTC) — announcement of Canada's interest rate decision;
• Wednesday, January 29, 19:00 (UTC) — FOMC press conference and statement, as well as the announcement of the US Federal Reserve interest rate decision;
• Thursday, January 30, 09:00 (UTC) — publication of German GDP for the 4th quarter of 2024;
• Thursday, January 30, 13:15 (UTC) — announcement of the euro area deposit rate for January, as well as interest rate decisions in the Euro area;
• Thursday, January 30, 13:30 (UTC) — publication of US GDP for the 4th quarter of 2024 and the number of initial applications for unemployment benefits;
• Thursday, January 30, 13:45 (UTC) — press conference of the European Central Bank (ECB);
• Friday, January 31, 13:00 (UTC) — publication of the German consumer price index for January;
• Friday, January 31, 13:30 (UTC) — publication of the basic index of US personal consumption expenditures for December and the whole of 2024.

*This post is not a financial recommendation. Make decisions based on your own experience.

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