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The US Dollar traded unchanged against the major currencies due to low volatility in
the market. Wall Street was closed due to Martin Luther King’s Day. Technically, the
Dow Jones remains strong on the daily chart and is expected to face a resistance level
around 13,650. NASDAQ is holding above the 2,730 support level and is expected to return
to 2,750. Today, Existing Home Sales are expected at 5.09M vs. 5.04M previously.
Gold gained by 0.13% closing at $1,691 an ounce, and Crude Oil finished unchanged at
$95.80 a barrel. The Euro traded flat due to low volatility
in the market after German PPI came out worse than expected at -0.30% vs. 0.00%. Technically,
the EUR/USD has breached the resistance level of 1.3350 and it expected to keep rising towards
1.3400. Today, German Economic Sentiment is expected at 12.20 vs. 6.90 previously.
The Cable fell to fresh two-month lows against the dollar as concerns over the outlook for
economic growth in the U.K. continued to weigh on demand for sterling. Technically, strong
support is located at 1.5820 and according to "Fibonacci Retracement" the GBP/USD may
rebound towards 1.6000 resistance level. No economic data expected today.
The Australian Dollar finished unchanged versus the US dollar due to low volatility in the
markets. Technically, the trend is still bullish as long as the AUD/USD maintains its support
level of 1.0500 and it's expected to keep rising towards 1.0575 resistance level once
again. Today, the CPI is expected at 0.40% vs. 1.40% previously.