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CAD/JPY 85.407 09:00 24.01
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GOLD/EUR 1129.375 09:00 24.01
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By: Daniel Gant
January 20th 2014 2:28am GMT, London UK

The EUR/USD pair declined on Friday more than 100 pips despite the worse-than-expected U.S. Industrial Production and UoM Consumer Sentiment. The pair probably benefited from the speculation over further Fed tapering. During the American session we should not expect higher volatility due to the fact that U.S. market remains closed (Martin Luther King Day). We should also expect some price correction after the Friday’s drop.

On Friday the GBP/USD pair strongly increased from 1.6310 to 1.6455 as the U.K. Retail Sales showed the highest number since 2008. The expected figure was 0.5% and the actual came out 2.6%. The pair then corrected to 1.6400 but as the new week started the pair again started in bullish mood. Today the U.K. market will not announce any economic data and the U.S. market remains closed after the weekend due to holidays. That’s why we should not expect any higher volatility and probably we will see just sideways movement.

The USD/JPY pair was traded in a flat channel between 104.20 and 104.45 on Friday. Today the market opened and the pair slightly because of the fact that American stocks closed in red numbers. Today and tomorrow there are no important economic events so we might see the pair ranging between its support and resistance.

The price of Gold tested on Friday its resistance on $1,254 an ounce but lost momentum and did not break it. Because of the negative finish of U.S. Stocks when the indices end up in red numbers the price of Gold managed to break the resistance immediately as the market re-opened after the weekend. The price rebounded on $1,260.50 an ounce the 6 weeks highs and fell back to $1,254 an ounce where is now ranging. Today due to the U.S. holidays market remains close and we should not expect higher volatility. The physical demand might weaken because of the higher price.

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Daniel Gant

Broker at GOptions
My strategies have been maintained and reworked for the last four years. Win loss accuracy and a stable method of volume production has insured my clients inside my personal portfolio success, not to mention the education, guides and management sessions that I teach daily.

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