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Macro

USD/CAD Outlook (05 January 2022)Overall, USD/CAD is ranging across. The Canadian Building Permits m/m data (Forecast: 2.1%, Previous: 1.3%) will be released later at 2130 (GMT+8). The OPEC+ held oil production hike unchanged at 400,000 barrels-per-day for February. The organization also felt that the COVID Omicron variant is likely going to have a short-lived impact on global energy demand. Currently, USD/CAD is trading around the key level of 1.27. Its next support zone is at 1.26100 and its next resistance zone is at 1.29000. With the positive outlook on the global oil demand from OPEC+, look for selling opportunities of USD/CAD if it breaks below the key level of 1.27.
Short
by JinDao_Tai
EUR/USD Outlook (04 January 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800 and broke below the key level of 1.13. The eurozone final manufacturing PMI data (Actual: 58.0, Forecast: 58.0, Previous: 58.0) released yesterday indicated no change in the final release of the manufacturing PMI for December. Currently, EUR/USD is testing to break above the key level of 1.13. Its next support zone is at 1.12000 and resistance zone of 1.13800. Look for short-term selling opportunities of EUR/USD if it bounces down from the key level of 1.13.
Short
by JinDao_Tai
NZD/USD Outlook (04 January 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD rejected the resistance zone of 0.68400 and traded below the key level of 0.68. New Zealand banks will be closed today in observance of Second New Year’s Day. Expect lower trading volume and volatility during the usual New Zealand market hours. Currently, NZD/USD is trading up toward the key level of 0.68. Its next support zone is at 0.67100 and the next resistance zone of 0.68400. Look for selling opportunities of NZD/USD if it bounces down from the key level of 0.68.
Short
by JinDao_Tai
USD/CAD Outlook (04 January 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27. The Canadian Manufacturing PMI data (Forecast: NA, Previous: 57.2) will be released later at 2230 (GMT+8). The OPEC+ will be holding their meetings today. Pay attention to whether the organization will make any changes to its planned oil production hike of 400,000 barrels-per-day. USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29000. Look for short-term buying opportunities of USD/CAD.
Long
by JinDao_Tai
NZD/USD Outlook (03 January 2022)Overall, NZD/USD is ranging across. Recently, NZD/USD traded into the resistance zone of 0.68400. New Zealand banks will be closed today in observance of New Year’s Day. Also, New Zealand banks will be closed tomorrow in observance of Second New Year’s Day. Expect lower trading volume and volatility during the usual New Zealand market hours. Currently, NZD/USD is testing the resistance zone of 0.68400 and its next support zone is at 0.67100. Look for buying opportunities of NZD/USD if it breaks the resistance zone of 0.68400.
Long
by JinDao_Tai