EUR/USD: Pair Moving Into Key 1.08 Resistance Ahead of The FOMC

Over the past week, the value of USD has been declining due to bank liquidity issues, starting with Silicon Valley Bank and Signature Bank in the US, and followed by Credit Suisse.

Chart of the Day – SPX500 – (January 18th, 2023)

 The SPX was creeping higher since the end of December, but we kept reminding our members that the trend remained lower as long as we kept respecting the descending channel.

Chart of the Day – WTI – (January 16th, 2023)

Crude Oil has reached a major pivot point of its move lower that started last year March and we are about to find out if the trend higher will be restored or we will remain in corrective mode.