USDX: The dollar index has made a low at 89.90 on Jan 17 held the 161.8 Fe support 89.80. The daily ABC pattern (95-92.40-94.20) target of 161.8 finds at 89.80.  The USDX is stable at a four-month descending trendline (below chart). Near-term support zone remains between 90.00-88.00. We believe while holding 89.80 minor rebound could expect to 91.00 and 91.50. The daily RSI appears a double bottom and the oscillator turned bullish.

Bitcoin: After a steep fall nearly 20% this week the digital currency Bitcoin managed to hold the 100EMA on a daily closing basis. Past two days and today’s Asia session price action indicating between 11,330$ and 11,430$ is an initial resistance zone. A move above those needed to rebound further to 12570-12740.

Weekly support finds between: 9170-8790 it’s 100MA below this 7970 200EMA exists.

Brent: We spotted a bearish H&S pattern on the H1 chart. Neckline finds at 68.30, breakout still not visible.  Shoulders seems between 69.30-69.70. A move below the neckline needed to forecast 67.50.

AUDJPY: The cross is trading on a verge of a neckline break seems at 89.00. A move above this could open to 89.40. Further strength will attach if 84.40 taken out decisively to forecast 90.00 and 90.30. Alternatively fails to cross 89-89.40 will retrace for 88.30/88.00. The daily RSI marks a lower high. Intraday support finds at 88.50 and 88.30/88.00

It is important to always keep in mind the risks involved in trading with leveraged instruments.

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