Daily Analysis from FX77, Jan 7, 2015

FX:SPX500   S&P 500 index of US listed shares
It’s been a volatile and exciting start to the 2015 trading year, with the market springing in different directions.
The Euro/USD started the week with a decent towards 1.19 levels, its lowest point since 2006!
Despite soft data yesterday, the USD continued its stronghold over the EUR, proving that investors are still confident in US growth and worried about the upcoming bond-buying program, rumored to be looming in the EUR zone future.
Oil             prices continued to crash yesterday as-well, dropping over 4%, going under 48$ and adding to Global uncertainty.
Wall-Street reacted with a second straight day of red closings, with all three major indices dropping between 0.75%-1.3%.

Key Market data today:
08:55 – EUR: German unemployment change.
10:00 – EUR: CPI             .
13:15 – USD: Non-Farm Employment change.
15:00 – CAD: PMI.

Technical analysis:

Short term Support – 1.160

Resistance 1.890


All the information mentioned above is for reference only. The FX team will keep an eye on the market and set up the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please pay more attention to us.

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