Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025

Top Forex Brokers – Forex Weekly news and analysis For January 6 – 12, 2025

The US NFP Report

The US added 227K jobs in November, surpassing the 200K forecast and rebounding from October’s low gain of 36K. Experts predict the January 10 NFP will show another 200K increase, reflecting steady labor market growth.

If the NFP comes in below the expected 200K, the dollar may weaken as signs of a slowing economy could push the Fed toward faster rate cuts. Stronger-than-expected data could strengthen the dollar, encouraging a more hawkish Fed stance and boosting investor confidence.

XAUUSD

XAUUSD formed a symmetrical triangle pattern. The price is testing MA50, FRAMA, and the upper trendline, with the Chaikin indicator indicating the possibility of growth.

•A break of the upper trendline above 2675 could open the way to 2715 and 2790;
•A bounce off the upper trendline may drop gold to the lower trendline at 2600.

GBPUSD

In the Weekly timeframe, GBPUSD formed an ascending channel pattern. The price fell to the lower trendline and crossed the lower Bollinger line. DeMarker confirms an oversold condition.

•A break of the support at 1.2370 and the trendline may start the decline to 1.2100;
•A rebound from the trendline could bring GBPUSD back to 1.2800.

US100

US100 is correcting after updating the all-time high and has formed a double top pattern testing 161.8 Fibonacci. CCI came out of an oversold range, indicating the beginning of growth.

•A break of 21 000 support could drop US100 to 20 000;
•A bounce off the support may bring the price back to 22200.

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