US Dollar and S&P 500 Technical Analysis For Today

US DOLLAR TECHNICAL ANALYSIS – Prices are eyeing resistance in the 10761-66 area, marked by the 38.2% Fibonacci expansion and the top of a rising channel. A break higher exposes the 50% level at 10806. Reversing below the 10707-27 region (December 19 high, 23.6% Fib) targets the channel bottom, now at 10644.

S&P 500 TECHNICAL ANALYSIS – Prices are testing resistance in the 1844.90-49.10 area, marked by the December 31 high and the 14.6% Fibonacci expansion. A break higher exposes the 23.6% level at 1863.10. Near-term support is at 1819.60, the 14.6% Fib retracement.

Technical Trading Chart For EUR/JPY Today: 9th Jan.

EUR JPY Chart For Today

FOREX Suggestion for Today:

EUR/JPY is taking support at lower trendline. With JPY weakening across all the curencies, EUR/JPY is a good BUY above 143.300

Technical Trend for EUR/USD and GBP/USD Today

• EUR/USD Trend.

The bias is bearish in the short term to test the 1.3550 area. Immediate resistance is seen at around 1.3675, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.3720 area. The main scenario for the trend should be valid, but a break below the bullish channel could be a signal the beginning of a correction scenario be bearish.

• GBP/USD Trend.

The bias is bearish in the short term to test the key support at 1.6340 area. Immediate resistance is seen at around 1.6450 area, break up of the area to bring the price of the neutral zone that leads in the short term to test the 1.6490 area or higher. The main outlook for the bullish should be valid however break down 1.6340 area could be a signal for the beginning of a bearish reversal scenario.