Market Analysis

CitiEuropean OpenSome markets reopened in Asia, following Lunar New Year Holidays. However, we note that CNY/HKD/TWD are still on holiday. In terms of moves, the plunge in equity futures late in NY session was the highlight, as sour earnings caused 2% dips. USD modestly gained in the Asian session, continuing a trend seen in NY, […]

• EURAUD broke resistance zone • Likely to rise to resistance level 1.6125 EURAUD currency pair recently broke the resistance zone lying between the key resistance level 1.5950 (which has been reversing the pair from January) and the 61.8% Fibonacci correction of the previous ABC correction (2) from December. The breakout of this resistance zone accelerated […]

• EURUSD reversed from support zone • Likely to rise to resistance level 1.1470 EURUSD currency pair recently reversed up sharply from the support zone lying between the major support level 1.12 (which has been reversing the pair from the middle of 2020) and the lower weekly Bollinger Band. This support zone was further strengthened by […]

EURUSD stopped rising before the ECB meeting. The major currency pair took a break from growing before the ECB meeting. the current quote for the instrument is 1.1300. The CPI Flash Estimate in the Euro Area showed 5.1% y/y in January after being 5.0% y/y the month before; it’s a new high for the indicator. […]

Brent As we can see in the H4 chart, after breaking the high at 86.63 and fixing above it, Brent has stopped at 91.43. At first, the asset intended to reach the post-correctional extension area between 138.2% and 161.8% fibo at 94.53 and 99.41 respectively, but the above-mentioned level turned into strong resistance. Both this […]

ECB Inflation Outlook On WatchThe February ECB meeting today will play second fiddle to the BOE meeting. However, there is still potential for market action in response to the meeting as traders await the latest outlook and assessment from the bank. No alteration in monetary policy is expected at this point so the main focus […]

BOE In FocusThe February Bank of England meeting due today is drawing a great deal of focus, with the market widely expecting the BOE to hike rates by a further .25% to 0.5%. With omicron risks having fizzled out, the labour market continuing to tighten and inflation soaring, there seems little case for the BOE […]

USDCAD, “US Dollar vs Canadian Dollar” As we can see in the H4 chart, after forming several reversal patterns, including Hammer, close to the support level, USDCAD is reversing and may form a new rising impulse. In this case, the upside target may be the resistance area at 1.2780. However, an alternative scenario implies that […]

Content ControversyMusic streaming platform Spotify has been drawing plenty of heat recently following a row which erupted just a fortnight ago. Folk-rock icon Neil Young called on Spotify to make a choice between having his music on their platform or Joe Rogan’s podcasts. Young took aim at Spotify over the content of Rogan’s podcasts, specifically […]

AUD Trading HigherThe Australian Dollar has seen better demand today following comments overnight from RBA governor Lowe. Following the RBA’s February meeting which saw the bank announcing an end to QE but citing ongoing concerns over the sustainability of the pickup in inflation, Lowe’s comments last night were deemed more hawkish than the market was […]

NZDUSD, “New Zealand Dollar vs US Dollar” NZDUSD is trading at 0.6634; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6685 and then resume moving downwards to reach 0.6455. Another signal in favour of a further downtrend […]

USDJPY, “US Dollar vs. Japanese Yen” As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be […]