The Euro rebounded from two days of sharp losses on Monday even after an anti-bailout party was victorious in Greek elections, while Global stock indexes went up on confidence in the European Central Bank's new money-printing program. Crude Oil fell to the lowest in almost six years after the OPEC Secretary-General said that there was about 1.5 million barrels a day of excess supply. Gold fell more on Monday as traders cashed in gains that took the metal to five-month highs last week, with the wider markets minimizing news that an anti-austerity party had won elections in Greece. The highlight of this week, the Fed's FOMC meeting starts today.
The Euro held onto modest gains early yesterday, having bounced off an 11-year trough as investors decided to take profits on extremely bearish positions, supported also by a survey that showed German business morale rose to its highest level in six months.
EURUSD closed at $1.12493, up 0.36%, in our platform, yesterday.
Analysts mentioned that perhaps the market rightly or wrongly is putting some hopes on Greece's new government being more conciliatory. In any case, the market will be paying close attention to news that could well see more Euro volatility for now at least.
Today, expect the market to move with the U.S. durable goods orders, new home sales and to pay extra attention to the S&P Case-Shiller HPI and U.S. consumer confidence as it focus on the beginning of the FOMC meeting.
Pivot
1.1315
Support
1.119
1.11
1.099
Resistance
1.1315
1.1395
1.146
Scenario 1: Short positions below 1.1315 with targets 1.119 & 1.11 in extension.
Scenario 2: Above 1.1315 look for further upside with 1.1395 & 1.146 as targets.
Comment: The pair stands below its resistance and remains under pressure.
The Pound rose against the Dollar on Monday, but remained within close distance of recent 18-month lows as the market pays close attention to news out of Greece following anti-austerity Syriza party's election win on Sunday.
GBPUSD finished at $1.50843, up 0.55% in our platform, yesterday.
Today, expect the market to move with the U.K GDP, U.S. durable goods orders, new home sales and to pay extra attention to the S&P Case-Shiller HPI and U.S. consumer confidence as it focus on the beginning of the FOMC meeting.
Pivot
1.5035
Support
1.5035
1.5
1.495
Resistance
1.5115
1.521
1.5265
Scenario 1: Long positions above 1.5035 with targets 1.5115 & 1.521 in extension.
Scenario 2: Below 1.5035 look for further downside with 1.5 & 1.495 as targets.
Comment: The pair remains on the upside and is challenging its resistance.
Gold fell yesterday as traders cashed in gains that took the metal to five-month highs last week, with the wider markets minimizing news that an anti-austerity party had won elections in Greece.
Spot Gold closed at $1,280.23, down 1.03% or $13.35 in our platform, yesterday.
Gold's rise to its highest price since mid-August last week left it overbought, analysts said, and the price eased as the uncertainty surrounding the Greek election cleared.
Today, expect the market to move with the U.S. durable goods orders, new home sales and to pay extra attention to the S&P Case-Shiller HPI and U.S. consumer confidence as it focus on the beginning of the FOMC meeting.
Pivot
1,290
Support
1,264
1,254
1,244
Resistance
1,290
1,300
1,308
Scenario 1: Short positions below 1,290 with targets 1,264 & 1,254 in extension.
Scenario 2: Above 1,290 look for further upside with 1,300 & 1,308 as targets.
Comment: As long as 1,290 is resistance, likely decline to 1,264.
OIL/USD
WTI Crude Oil fell to the lowest in almost six years after OPEC Secretary-General said that there was about 1.5 million barrels a day of excess supply.
WTI futures closed at $45.19, down 0.55% or $0.25 in our platform, yesterday.
WTI for March delivery fell to close at the lowest settlement since March 11, 2009. The volume of all futures traded was 15% below the 100-day average. Prices are down 53% from a year earlier.
Today, expect the market to pay extra attention to the U.S. durable goods orders, new home sales, S&P Case-Shiller HPI and U.S. consumer confidence as it focus on the beginning of the FOMC meeting.
Pivot
46.7
Support
43.7
42.6
41.4
Resistance
46.7
47.8
49.1
Scenario 1: Short positions below 46.7 with targets 43.7 & 42.6 in extension.
Scenario 2: Above 46.7 look for further upside with 47.8 & 49.1 as targets.
Comment: As long as 46.7 is resistance, likely decline to 43.7.
DOW/USD
U.S. stocks ended Monday's agitated trading session with small gains, as investors mostly minimized the Greek election results which brought the anti-bailout Syriza party to power.
The Dow Future closed at 17,614, almost unchanged in our platform, yesterday.
The relative calm in global equity markets was attributed largely to long lasting effects of the quantitative easing program announced by the ECB last week, which overshadowed election results in Greece.
Today, expect the market to move with the U.S. durable goods orders, new home sales and to pay extra attention to the S&P Case-Shiller HPI and U.S. consumer confidence as it focus on the beginning of the FOMC meeting. 
Pivot
17,865
Support
17,865
17,700
17,560
Resistance
18,070
18,220
18,320
Scenario 1: Long positions above 17,865 with targets 18,070 & 18,220 in extension.
Scenario 2: Below 17,865 look for further downside with 17,700 & 17,560 as targets.
Comment: The RSI lacks downward momentum.