💵 💴 💶GLOBAL MARKETS💴 💶

Mixed trading activity was observed in Asian markets, as data to be released this week is expected to indicate that the US economy is performing better than other economies, supporting the continued rise of the dollar. Following media reports suggesting that Canadian Prime Minister Justin Trudeau will resign from office today, political uncertainty remains a significant factor influencing markets.

MicroStrategy Plans $2 Billion Stock Offering to Increase Bitcoin Reserves

MicroStrategy, the world’s largest institutional Bitcoin holder, announced plans to raise $2 billion through a preferred stock offering. The initiative aims to expand the company’s Bitcoin reserves and strengthen its balance sheet, aligning with its ambitious growth strategy. In a statement on January 3, MicroStrategy clarified that this offering is separate from its earlier plans to secure $21 billion in equity and an equivalent amount in fixed-income instruments.

This Week’s Agenda: US Employment Data and Fed Minutes

As 2025 gains momentum, this week’s agenda includes key economic data such as monthly US employment reports and Federal Reserve meeting minutes. Investors are closely monitoring these updates to assess the health of the US economy and adjust their expectations for interest rates, particularly ahead of Donald Trump’s inauguration ceremony on January 20.

Technical Overview

DXY

On the daily chart, the DXY index broke out of a falling wedge pattern and is continuing its upward trend. Currently trading at 109.10, the DXY is expected to maintain its upward trend unless the horizontal support level at 105.68 is breached. If the trend continues, the resistance levels to watch are 112.34 and 115. If the price consolidates significantly at the 112.34 level, the trend could potentially extend to 112.

Resistance Levels: 112.34 / 115.00 / 120.76
Support Levels: 107.34 / 105.68 / 104.38

BTC/USD

Bitcoin’s recovery process continues to gain momentum. Currently trading at 96,800 USD, Bitcoin’s critical support level stands at 87,956 USD. As long as Bitcoin stays above this level, the upward trend has the potential to extend to 108,995 USD. However, if the 92,000 USD support level is lost, a downward trend could see the price drop to 88,362 USD.

Resistance Levels: 108,985 / 118,500 / 123,550
Support Levels: 92,000 / 88,362 / 83,365

ETH/USD

Ethereum recently reached the anticipated target of 4,086 USD before experiencing a sharp pullback. It is currently trading at 3,459 USD. The critical level to watch here is 3,110 USD, which serves as a horizontal support point. As long as there is no significant close below this level, the outlook remains positive. However, if the support level is breached, the price could potentially decline to 2,808 USD.

Resistance Levels: 3,539 / 4,086 / 4,782
Support Levels: 3,110 / 2,808 / 2,134

NASDAQ

The Nasdaq index continues its uptrend within a rising channel on the weekly chart. However, a wedge formation within the channel has rejected the price at the resistance level, with the index currently trading at 21,368. If the 21,700 level is surpassed and maintained, the index could break the main channel resistance and extend its rally to 22,500. On the downside, breaking below the critical 20,695 support may invite selling pressure, potentially pulling the index down to 20,000.

Resistances: 23,117 / 24,380 / 26,200
Supports: 20,694 / 18,788 / 17,291

BRENT

Brent crude has shown mid-term recovery, regaining its previously lost channel structure. Having surpassed the 76.98 resistance level, the price is likely to rise towards the 80.00–82.00 range if it maintains this level. Key support stands at 72.37, where buyers are expected to step in to sustain the trend.

Resistances: 76.15 / 85.84 / 95.53
Supports: 70.17 / 69.00 / 67.80

EURUSD

The Euro formed a double top at 1.11 and entered a downtrend. Losing the 1.10 support led to a pullback to the lower channel boundary at 1.07. After breaking the rising support level, the Euro slid to 1.046. At this critical support level, buyers are likely to re-enter the market. However, if the support is broken, the Euro may face deeper declines, potentially reaching 1.099. Price action at these levels will be pivotal in determining the next directional move.

Resistances: 1.0575 / 1.1043 / 1.1213
Supports: 1.0180 / 0.9936 / 0.9542

XAUUSD

Gold recovered from the 2608 level and successfully reached the anticipated target. With the breakout of the descending channel resistance, gold managed to rise back above the 2710 resistance level. As long as it maintains its position above this resistance level, it is expected to sustain its upward momentum and preserve the potential to rise toward the 2756 region.

Resistances: 2757 / 2790 / 2800
Supports: 2608 / 2622 / 2590

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