Gold showed a new high of $ 1,586, breaking the highs of 2019. Meanwhile, oil is also holding a near six-month highs. This is the effect of a sharp rise in US-Iran tensions after the assassination of Iranian General Qasem Soleimani by the US forces.
At the same time, the S&P 500 index of the US market returned to highs on the first full day of business on January 6. This shows that investors are still hoping that the big US-Iran war will be avoided.
Aside from the US-Iran conflict, the second main topic of the week is the US employment report for December.
Questions:
1) Will the labor market confirm the signals of a slowdown in the US economy or, on the contrary, will it remain a growth driver? Reports a month ago were quite contradictory.
2) If the report comes out strong, how will the EUR/USD rate react? Technically, for the EUR/USD, the market is trending upwards.
You can buy from 1.1180.
You can buy at the breakthrough of 1.1205 and 1.1240.
Signal of a cancellation of a trend - a downward break of 1.1120.
