USD: Another negative start for the Dollar

• RES 4: 6178.75 High Dec 6 and key resistance    
• RES 3: 6162.25 High Jan 24 
• RES 2: 6147.75 High Jan 31 
• RES 1: 6069.00 High Feb 3                
• PRICE: 6017.50 @ 07:25 GMT Feb 4 
• SUP 1: 5935.50 Low Feb 3           
• SUP 2: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
• SUP 3: 5842.50 Low Jan 14 
• SUP 4: 5809.00 Low Jan 13 and a key resistance 

The S&P E-Minis contract started the week on a bearish note. The gap lower Monday and a breach of support at 5948.00, the Jan 27 low, strengthens a bearish threat and cancels - for now - a recent bullish theme. An extension down would open 5892.37, a Fibonacci retracement point. Initial resistance is at 6069.00, today’s intraday high. Gains are considered corrective, however, a stronger rally would expose key resistance at 6178.75, the Dec 6 high. 

• The Dollar is in the Green across the board, Tariff and deadline headlines dominate in Global markets going into the European session.
• The Kiwi was and still is the worst performer today, but the NZDUSD is some way short of 0.5516, Yesterday's low.
• This is a big support area level, since 0.5512 is the 2022 low and the lowest printed level since March 2020.
• The most traded Global pair is recovering some of its earlier losses, EURUSD is slowly edging back above 1.0300, after it exchanged hands at its worst level since November 2020 Yesterday at 1.0141.
• While it tested a 1.0350 overnight, the initial resistance will be eyed at 1.0387 20-day EMA.

• RES 4: $2917.5 - 1.764 proj of the Nov 14 - Dec 12 - 19 price swing    
• RES 3: $2900.0 - Round number resistance
• RES 2: $2867.5 - 1.50 proj of the Nov 14 - Dec 12 - 19 price swing
• RES 1: $2845.2 - 1.382 proj of the Nov 14 - Dec 12 - 19 price swing   
• PRICE: $2811.1@ 07:23 GMT Feb 4 
• SUP 1: $2736.4/2692.6 - 20- and 50-day EMA values   
• SUP 2: $2656.9 - Low Jan 13 
• SUP 3: $2614.8 - Low Jan 6  
• SUP 4: $2583.6 - Low Dec 19 and a key support 

A bull cycle in Gold remains in play. Last week’s extension higher and Monday’s gains confirm a resumption of the uptrend and maintain the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on $2845.2 next, a Fibonacci projection. The first key support to watch is $2692.6, the 50-day EMA. The 20-day EMA is at $2736.4.