Technical Analysis

Trade ideas thread – European session 30 January 2023

It may set up to be a quiet start to the new week with not much in it in European trading today. Risk tones are slightly on the defensive with US futures lower as the S&P 500 approaches its December highs near 4,100 – which remains a critical technical spot in my view.

Meanwhile, the dollar continues to keep steadier as it is facing a back against the wall situation. The key technical levels outlined at the end of last week here are all still in play. Month-end trading will cloud the picture in the next few sessions so just be wary of flows dominating especially as we get towards the fix later in the day.

Other than that, we might just end up being in a wait and see mood until the dust settles on the central bank bonanza this week.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

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