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Tusharcsfx

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  1. Daily Crypto Analysis – Bitcoin rises, Ethereum falls, XRP struggles, Dogecoin surges. Introduction Bitcoin achieves a record-breaking high, surpassing $69,324, propelled by a nearly 65% year-to-date gain and the anticipation of its fourth halving on April 18. Ethereum faces a sharp correction after rallying to $3,850, following Bitcoin’s surge, with support found near $3,350. XRP price drops below $0.60 amid a broader crypto market downturn, influenced by concerns surrounding the SEC vs. Ripple lawsuit. Dogecoin experiences a 150% weekly gain as bullish whales invest $250M, indicating confidence in the ongoing price rally despite potential short-term corrections. Markets In Focus Today – BITCOIN Bitcoin Peaks At $69,324 With BTC Fourth Halving Around The Corner. Bitcoin has set up a new all-time high above $69,324 on Tuesday after rallying nearly 9% in the last 24 hours.BTC has registered a nearly 65% year-to-date gain on top of the 155% rally in 2023. The spot ETF approval, which led to a surge in capital inflows, is one of the most important narratives responsible for the parabolic rally. In addition to the Bitcoin spot ETF approval being the main driver behind BTC’s price rally to new all-time highs, the halving narrative has also played a pivotal role. The fourth Bitcoin halving will occur on April 18, in roughly 47 days. This event will slash the block reward for miners from 6.25 BTC to 3.125 BTC. The fourth Bitcoin halving, embedded within Bitcoin’s code, reduces the rate at which new Bitcoins enter circulation by 50% every roughly four years or 210,000 blocks. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 62200.6334 | Positive Crossover | Bullish MA 20 : 58183.7289 | Positive Crossover | Bullish MA 50 : 51879.6563 | Positive Crossover | Bullish Simple : MA 10 : 62147.4520 | Positive Crossover | Bullish MA 20 : 56942.0865 | Positive Crossover | Bullish MA 50 : 49125.0354 | Positive Crossover | Bullish RSI (Relative Strength Index): 73.6483 | Buy Zone | Bullish Stochastic Oscillator : 86.5298 | Buy Zone | Negative Resistance And Support Levels : R1 : 64016.7673 R2 : 69244.2994 S1 : 47093.7394 S2 : 41866.2073 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 63218.80 | Take Profit: 67615.95 | Stop Loss: 60644.86 ETHEREUM
  2. Daily Index Analysis – Global indices volatile, tech stocks tumble. Introduction: Asian markets display mixed results following Wall Street’s recent downturn. While the Shanghai Composite rises by 0.28%, Singapore’s MSCI climbs 1.93%, and Hong Kong’s Hang Seng Index gains 1.70%. In Europe, major stock markets stabilize amid diverse Asian performances. Meanwhile, U.S. stocks experience a notable decline, coinciding with record highs for both bitcoin and gold, prompting scrutiny from investors ahead of economic data releases and central bank actions. Market In Focus For Today – Nasdaq 100 Nasdaq Composite experiences a dip as technology stocks face downward pressure. TECHNICAL OVERVIEW: Moving Averages: Exponential: MA 5: 18123.55 | Positive Crossover | Bullish MA 20: 18101.93 | Positive Crossover | Bullish MA 50: 17936.07 | Positive Crossover | Bullish Simple: MA 5: 18199.52 | Negative Crossover | Bearish MA 20: 18101.35| Positive Crossover | Bullish MA 50: 17935.07 | Positive Crossover | Bullish RSI (Relative Strength Index): 54.63| Buy Zone| Buy Stochastic Oscillator: 12.5| Sell Zone | Negative Resistance And Support Levels: R1: 18375.84 | R2: 18690.99 S1: 17848.87| S2: 17376.92 Overall Sentiment: Positive | Market Direction: Buy Trade Suggestion: Limit Buy: 17932.16 | Take Profit: 18320.83| Stop Loss: 17691.55. S&P 500:
  3. Daily Commodity Analysis – Oil dives, gas surges, gold holds. Introduction WTI oil prices decline to around $77.70, marking a third consecutive session of losses amid rising concerns over demand, fueled by disappointing US factory data and unexpected increases in crude oil stock. Meanwhile, U.S. natural gas futures experience volatility, settling higher as participants weigh lower production against bearish weather forecasts. Gold prices trade slightly lower, approaching the all-time peak, as traders anticipate Fed Chair Powell’s statement and scrutinize geopolitical risks. Silver rebounds near the year-to-date peak, hovering around $24.00, supported by a positive technical setup and bullish prospects. Markets In Focus Today – CRUDE OIL WTI Extends Its Losses To Near $77.70 As Demand Concerns Rise After US Factory Data. WTI price continues to lose ground on concerns over oil demand.US Factory Orders (MoM) dropped by 3.6% in January, against the expected decline of 2.9%.US API Weekly Crude Oil Stock reported 0.423 million barrels, contrary to the expected decrease of 2.6 million barrels. West Texas Intermediate (WTI) oil price extends its losses for the third successive session, trading lower near $77.70 per barrel on Wednesday. Concerns about demand weigh on Crude oil prices following recent data indicating slowing economic activity in the United States, the world’s largest oil consumer. However, the weaker US Dollar (USD) may provide some support to oil prices by increasing demand from buyers using other currencies. The increased apprehension regarding oil demand has tempered the impact of efforts by OPEC+ countries, Russia included, to enact voluntary oil output cuts. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 78.3378 | Negative Crossover | Bearish MA 20 : 77.6871 | Negative Crossover | Bearish MA 50 : 76.5517 | Positive Crossover | Bullish Simple : MA 10 : 78.2870 | Negative Crossover | Bearish MA 20 : 77.9429 | Negative Crossover | Bearish MA 50 : 75.3427 | Positive Crossover | Bullish RSI (Relative Strength Index) : 55.9934 | Buy Zone | Bullish Stochastic Oscillator : 11.94 | Sell Zone | Positive Resistance And Support Levels : R1 : 79.6511 R2 : 81.6205 S1 : 73.2755 S2 : 71.3061 Overall Sentiment : Neutral Market Direction : Sell Trade Suggestion : Limit Sell : 78.03 | Take Profit : 75.88 | Stop Loss : 79.75 NATURAL GAS
  4. Daily FX Analysis – Explore forex as major pairs rally, and await data. Introduction EUR/USD climbs above 1.0850 in the European session amid a cautiously optimistic market sentiment ahead of Fed Chair Powell’s testimony and US jobs data. Investors await the EU Retail Sales report as they tread carefully before key macroeconomic events. GBP/USD regains momentum above 1.2700, anticipating UK Chancellor Jeremy Hunt’s Budget Report, while USD/CAD eyes the BoC rate decision. The Australian Dollar rebounds despite weaker GDP data, influenced by fluctuations in the S&P/ASX 200 Index and developments in the US Dollar and Fed Powell’s testimony. Markets In Focus Today – EUR/USD EUR/USD Rises Above 1.0850 Ahead Of US Data, Fed’s Powell. EUR/USD is picking up fresh bids above 1.0850 in European trading on Wednesday, as the US Dollar licks its wounds amid a cautiously optimistic market mood ahead of Fed Chair Powell’s testimony and US jobs data. EU Retail Sales report is eyed as well. EUR/USD trades in a tight channel above 1.0850 in the European morning on Wednesday as investors move to the sidelines ahead of key macroeconomic events. Although EUR/USD edged higher during the European trading hours on Tuesday, it failed to gather bullish momentum in the second half of the day as the US Dollar (USD) benefited from the souring market mood. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 1.0837 | Positive Crossover | Bullish MA 20 : 1.0827 | Positive Crossover | Bullish MA 50 : 1.0836 | Positive Crossover | Bullish Simple : MA 10 : 1.0839 | Positive Crossover | Bullish MA 20 : 1.0805 | Positive Crossover | Bullish MA 50 : 1.0859 | Positive Crossover | Bullish RSI (Relative Strength Index): 57.0348 | Buy Zone | Bullish Stochastic Oscillator : 82.4103 | Buy Zone | Neutral Resistance And Support Levels : R1 : 1.0876 R2 : 1.0924 S1 : 1.0722 S2 : 1.0674 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Stop Buy: 1.0858 | Take Profit: 1.0913 | Stop Loss: 1.0822 GBP/USD
  5. Daily Index Analysis – Markets surge, FTSE falters, DAX shines. Introduction: In the indices market update, Asian stocks generally rise despite a slowdown in China’s factory activity. Key movements include the Shanghai Composite up 0.32% and Japan’s Nikkei 225 climbing 0.50%. Meanwhile, European stocks see gains driven by global optimism and inflation concerns. In the U.S., stock futures remain steady after the Nasdaq Composite broke its 2021 record, setting the stage for continued upward momentum. Market In Focus For Today – Nasdaq 100 The Nasdaq 100 achieved all-time highs amid a decline in the US dollar and weakening Treasury yields. TECHNICAL OVERVIEW: Moving Averages: Exponential: MA 5: 18186.81 | Positive Crossover | Bullish MA 20: 18061.44 | Positive Crossover | Bullish MA 50: 17914.34 | Positive Crossover | Bullish Simple: MA 5: 18136.46 | Positive Crossover | Bullish MA 20: 18061.32| Positive Crossover | Bullish MA 50: 17914.28 | Positive Crossover | Bullish RSI (Relative Strength Index): 67.34| Buy Zone| Buy Stochastic Oscillator: 96/06| Buy Zone | Neutral Resistance And Support Levels: R1: 18376.65 | R2: 18755.76 S1: 17867.38| S2: 17376.92 Overall Sentiment: Positive | Market Direction: Buy Trade Suggestion: Limit Buy: 17950.67 | Take Profit: 18376.35| Stop Loss: 17700.81. S&P 500:
  6. Daily Commodity Analysis – Gold, oil surge, gas defies. Introduction Gold consolidates near a two-month high, hovering around $2,088-2,089, as it takes a breather after last week’s robust surge. The US Dollar weakened further due to disappointing ISM survey results and less hawkish Fed comments, boosting gold’s appeal. Meanwhile, copper prices dip ahead of crucial cues from China’s National People's Congress. WTI oil extends gains to nearly $79.50, supported by OPEC+ decisions, while U.S. natural gas futures defy bearish fundamentals with technical resilience amid a surprising storage withdrawal. Markets In Focus Today – GOLD Gold Price Consolidates Near Two-Month Peak, Bullish Potential Seems Intact. Gold price pauses after last week's strong positive move to a fresh YTD top. Slightly overbought RSI on the daily chart acts as a headwind for the metal. Traders also seem reluctant ahead of this week's key US data/event risks. Gold price (XAU/USD) is seen oscillating in a narrow range during the Asian session on Monday and consolidating last week’s strong gains to the $2,088-2,089 region, or its highest level since December 28. The US Dollar (USD) continues to be undermined by the disappointing release of the US ISM survey on Friday, which showed that manufacturing sector activity contracted more than anticipated in February. Adding to this, the less hawkish remarks by several Federal Reserve (Fed) officials reinforced bets that the US central bank will start cutting interest rates at the June policy meeting. This, in turn, is seen as a key factor acting as a tailwind for the non-yielding yellow metal. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 2047.1993 | Positive Crossover | Bullish MA 20 : 2037.2429 | Positive Crossover | Bullish MA 50 : 2028.3821 | Positive Crossover | Bullish Simple : MA 10 : 2041.3207 | Positive Crossover | Bullish MA 20 : 2029.0574 | Positive Crossover | Bullish MA 50 : 2034.7265 | Positive Crossover | Bullish RSI (Relative Strength Index): 69.9327 | Buy Zone | Bullish Stochastic Oscillator : 92.7922 | Buy Zone | Neutral Resistance And Support Levels : R1 : 2062.3465 R2 : 2081.5168 S1 : 2000.2868 S2 : 1981.1165 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 2070.07 | Take Profit: 2087.12 | Stop Loss: 2059.54 COPPER
  7. Daily FX Analysis – Forex market updates with expert analysis. Introduction The AUD/USD faces downward pressure around 0.6500 as the US Dollar stabilizes, influenced by mixed market sentiment and Australian economic data. The focus remains on China’s NPC meeting and the Fed’s Powell. Meanwhile, GBP/USD gains on the BoE Chief Economist’s hawkish comments, and EUR/USD strengthens ahead of the ECB meeting. NZD/USD retreats near 0.6100, impacted by a stable US Dollar and a higher-than-expected trade deficit in New Zealand. Fed rate cut probabilities for March, May, and June are 5.0%, 26.8%, and 53.8%, respectively. Markets In Focus Today – AUD/USD AUD/USD Stays On The Defensive Toward 0.6500 As The US Dollar Stalls Decline. AUD/USD is on the defensive toward 0.6500 in the Asian session on Monday. The pair is feeling the pull of gravity, as the US Dollar consolidates its previous losses. A mixed market mood and Australian economic data also weighed on the Aussie. China’s NPC meeting and Fed’s Powell are in focus. There is a mixed action in the global market as S&P 500 futures are down in the European session while risk-perceived currencies are performing better against the US Dollar. The US Dollar Index, which measures the US Dollar’s value against six rival currencies, falls slightly to 104.00. In the June meeting, market expectations for rate cuts by the Fed remain firm as the annual core inflation data grew at the slowest pace of 2.8% in their years. However, the Federal Reserve (Fed) is still not ready to unwind the restrictive policy stance sooner as they need more confidence that inflation will return to the 2% target. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 0.6523 | Negative Crossover | Bearish MA 20 : 0.6533 | Negative Crossover | Bearish MA 50 : 0.6562 | Positive Crossover | Bullish Simple : MA 10 : 0.6533 | Negative Crossover | Bearish MA 20 : 0.6521 | Negative Crossover | Bearish MA 50 : 0.6602 | Positive Crossover | Bullish RSI (Relative Strength Index): 45.3393 | Neutral Zone | Neutral Stochastic Oscillator : 45.4502 | Buy Zone | Positive Resistance And Support Levels : R1 : 0.6580 R2 : 0.6620 S1 : 0.6453 S2 : 0.6413 Overall Sentiment: Bearish Market Direction: Sell Trade Suggestion: Limit Sell: 0.6534 | Take Profit: 0.6465 | Stop Loss: 0.6581 GBP/USD
  8. Daily Crypto Analysis – Navigate crypto’s ups/downs with key insights. Introduction Bitcoin faces a potential downside as it consolidates below the $52,768 level during the US holiday honoring President Washington. Analysts anticipate a 10% drop to $47,445, a critical Fibonacci level unless a new local top above $52,816 emerges. Ethereum, with 16% weekly gains, eyes a revisit to $2,800. XRP climbs to $0.5741 amid the SEC v. Ripple lawsuit’s remedies phase. Dogecoin (DOGE) rebounds as whale transactions surpass $1 billion, signaling renewed activity among major holders. Markets In Focus Today – BITCOIN Bitcoin Price Consolidation Could Precipitate A Fall As US Markets Remember President Washington. Bitcoin price has consolidated below the $52,768 roadblock for almost a week amid buyer momentum exhaustion. BTC could drop 10% to the most critical Fibonacci level, 61.8% at $47,445, a formidable blockade between January 8 -12. Invalidation of the bearish thesis will occur if the price records a new local top above the $52,816 range high. Bitcoin’s (BTC) price continues to trade horizontally, stepping into the week when the US market is in holiday spirits, commemorating some of the country’s founding fathers. There is a big chance that Bitcoin price could record a new all-time high soon, according to Lucas Outumuro, head of research at on-chain aggregator tool IntoTheBlock. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 50631.2192 | Positive Crossover | Bullish MA 20 : 48570.2129 | Positive Crossover | Bullish MA 50 : 45548.2421 | Positive Crossover | Bullish Simple : MA 10 : 51106.1800 | Positive Crossover | Bullish MA 20 : 47656.7890 | Positive Crossover | Bullish MA 50 : 44828.6652 | Positive Crossover | Bullish RSI (Relative Strength Index): 75.0539 | Buy Zone | Bullish Stochastic Oscillator : 90.3352 | Buy Zone | Neutral Resistance And Support Levels : R1 : 47385.7128 R2 : 49859.0872 S1 : 39378.6872 S2 : 36905.3128 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 50165.94 | Take Profit: 52736.02 | Stop Loss: 48910.79 ETHEREUM
  9. Daily Crypto Analysis – Bitcoin surpasses $52K, Ethereum nears $2,900. Introduction Crypto markets witnessed a robust rebound as Bitcoin surged past $52,000, contributing to a $1.99 trillion market cap, marking a 10% increase in a week. Ethereum approached the significant $2,900 level, driven by positive sentiment. XRP stabilized above $0.56 amidst the SEC v. Ripple lawsuit deadline. Chainlink, with large wallet holders withdrawing $216 million worth of LINK from exchanges, experiences potential gains. Cryptocurrency enthusiasts eagerly anticipate Bitcoin’s potential all-time high in March fueled by call option positions and ETF demand. Markets In Focus Today – BITCOIN The Top Crypto Prices Today Saw A Significant Rebound As Bitcoin’s (BTC) Price Surged Past The $52,000 Level. The crypto market capitalization reached $1.99 trillion, according to CoinMarketCap estimates, an increase of over 10% in one week. Forbes estimates that the $2 trillion mark was reached last week The Bitcoin price rebounded and surpassed $52,000. The Bitcoin price was up by 1.07%, reaching $52,118.02 at the time of writing on Monday, February 19. On the other hand, its trading volume dipped by 15.03% to $18.22 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.02 trillion. Active building of call option positions with strikes of $60K to $80K, as well as fierce demand for ETFs, could push Bitcoin to an all-time high as early as March. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 50487.7376 | Positive Crossover | Bullish MA 20 : 48289.6095 | Positive Crossover | Bullish MA 50 : 45317.1722 | Positive Crossover | Bullish Simple : MA 10 : 50753.4790 | Positive Crossover | Bullish MA 20 : 47226.3365 | Positive Crossover | Bullish MA 50 : 44690.2386 | Positive Crossover | Bullish RSI (Relative Strength Index): 79.5085 | Buy Zone | Bullish Stochastic Oscillator : 92.1516 | Buy Zone | Negative Resistance And Support Levels : R1 : 47385.7128 R2 : 49859.0872 S1 : 39378.6872 S2 : 36905.3128 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 50345.25 | Take Profit: 52736.02 | Stop Loss: 49090.09 ETHEREUM
  10. Daily Index Analysis – Navigate market shifts and China’s impact. Introduction: In the global indices landscape, Asian stocks encounter challenges despite China’s rate cut. Shanghai Composite saw a modest gain, while European markets showed mixed results following China’s unexpected rate adjustment. U.S. stock futures dipped after the long weekend, with attention on Nvidia’s earnings and the Federal Reserve’s minutes release, influencing discussions on inflation and interest rates. Market In Focus For Today – Dow Jones Tuesday saw a decline in U.S. stock futures as investors anticipated a week that would include Nvidia’s corporate earnings and the minutes from the most recent monetary policy meeting. The Dow Jones Industrial Average fell 0.3%. TECHNICAL OVERVIEW: Moving Averages: Exponential: MA 5: 38658.01 | Negative Crossover | Bearish MA 20: 38631.75 | Negative Crossover | Bearish MA 50: 38613.47 | Positive Crossover | Bullish Simple: MA 5: 38708.02 | Negative Crossover | Bearish MA 20: 38631.82| Negative Crossover | Bearish MA 50: 38613.05 | Positive Crossover | Bullish RSI (Relative Strength Index): 48.98| Buy Zone| Buy Stochastic Oscillator: 46.6| Buy Zone | Negative Resistance And Support Levels: R1: 38925.81 | R2: 39302.43 S1: 38580.57| S2: 38109.80 Overall Sentiment: Neutral | Market Direction: Sell Trade Suggestion: Stop Sell: 38643.34 | Take Profit: 38277.18| Stop Loss: 38925.81. S&P 500:
  11. Daily Index Analysis – Keep track of market, and tech turmoil. Introduction: In the indices market, Asian shares grapple for momentum as China re-enters with subdued energy. The Shanghai Composite rises 1.56%, while Hong Kong’s Hang Seng Index drops 1.13%. European stocks pause nearing record levels. Meanwhile, on Wall Street, a decline ensues as robust producer price data dampens expectations for Federal Reserve interest rate cuts. Market In Focus For Today – Nasdaq 100 NASDAQ remains relatively unchanged as traders concentrate on profit-taking in the technology sector. TECHNICAL OVERVIEW: Moving Averages: Exponential: MA 5: 17811.77 | Negative Crossover | Bearish MA 20: 17862.00 | Negative Crossover | Bearish MA 50: 17730.30 | Positive Crossover | Bullish Simple: MA 5: 17845.12 | Negative Crossover | Bearish MA 20: 17862.02| Negative Crossover | Bearish MA 50: 17730.42 | Positive Crossover | Bullish RSI (Relative Strength Index): 47.21| Buy Zone| Buy Stochastic Oscillator: 22.14| Sell Zone | Negative Resistance And Support Levels: R1: 39013.33 | R2: 39534.75 S1: 38231.22| S2: 37479.77 Overall Sentiment: Neutral | Market Direction: Sell Trade Suggestion: Stop Sell: 17684.08 | Take Profit: 17259.36| Stop Loss: 17949.52. S&P 500:
  12. Daily Commodity Analysis – Oil is up gold is over $2,020, and silver is steady. Introduction WTI crude oil rises to approximately $78.30 amidst Houthi Group strikes on Red Sea shipping vessels, elevating concerns about Middle East supply disruption. Meanwhile, Natural Gas faces a three-year low due to soft European demand. Gold gains momentum near $2,020 amid escalating Middle East tensions and economic uncertainties, with FOMC Minutes in focus. Silver consolidates above $22.45, showing a potential mean reversion towards $23.90 and $25.00. Markets In Focus Today – CRUDE OIL WTI Moves Higher To Around $78.30 As The Houthi Group Strikes On Shipping Vessels In The Red Sea. WTI price edges higher on escalated threat over supply disruption from the Middle East. Iran-led Houthis targeted Belize-flagged, British-registered cargo vessel Rubymar. European Union has deployed warships and early warning systems to safeguard shipping lanes in the Red Sea. Saudi Aramco is considering issuing a bond of up to maturity of 50 years in 2024. West Texas Intermediate (WTI) oil price retraces its recent losses registered on Monday. WTI price trades higher around $78.30 per barrel during the Asian trading hours on Tuesday. The escalated threat of the oil supply disruption from the Middle East is supporting the prices of Crude oil. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 77.4693 | Positive Crossover | Bullish MA 20 : 76.4050 | Positive Crossover | Bullish MA 50 : 75.6216 | Positive Crossover | Bullish Simple : MA 10 : 77.3102 | Positive Crossover | Bullish MA 20 : 76.3290 | Positive Crossover | Bullish MA 50 : 74.0781 | Positive Crossover | Bullish RSI (Relative Strength Index): 59.0690 | Buy Zone | Bullish Stochastic Oscillator : 92.0512 | Buy Zone | Negative Resistance And Support Levels : R1 : 78.6054 R2 : 80.9659 S1 : 70.9639 S2 : 68.6034 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 77.00 | Take Profit: 79.60 | Stop Loss: 75.50 NATURAL GAS
  13. Daily FX Analysis – USD/CAD surges, EUR/USD nears support. Introduction In the currency markets, USD/CAD maintains its position above the 1.3500 level ahead of Canada’s CPI data, buoyed by a stronger US Dollar. Meanwhile, EUR/USD retreats from its weekly high, eyeing support at 1.0750, and GBP/USD struggles below 1.2600 ahead of BoE Governor Bailey’s testimony. NZD/USD trades flat amid the PBoC rate decision, influenced by cautious Fed rate cut expectations. The market anticipates potential volatility with upcoming economic data and central bank announcements. Markets In Focus Today – USD/CAD USD/CAD Holds Above The 1.3500 Mark Ahead Of Canadian CPI Data. USD/CAD edges higher to 1.3506 amid the firmer USD. Investors trimmed their bets on rate cut expectations from the Fed as the US January PPI data came in hotter than estimated. Canada’s January CPI report will be released on Tuesday, which is estimated to ease in January. The USD/CAD pair traded on a stronger note above the 1.3500 psychological mark during the Asian session on Tuesday. The uptick of the pair is bolstered by the stronger US Dollar (USD). The Canadian inflation data will be in the spotlight on Tuesday and could trigger volatility in the market ahead of the FOMC Minutes. At press time, USD/CAD is trading at 1.3506, gaining 0.12% on the day. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 1.3489 | Positive Crossover | Bullish MA 20 : 1.3473 | Positive Crossover | Bullish MA 50 : 1.3467 | Positive Crossover | Bullish Simple : MA 10 : 1.3487 | Positive Crossover | Bullish MA 20 : 1.3471 | Positive Crossover | Bullish MA 50 : 1.3405 | Positive Crossover | Bullish RSI (Relative Strength Index): 54.5737 | Buy Zone | Bullish Stochastic Oscillator : 58.9418 | Buy Zone | Positive Resistance And Support Levels : R1 : 1.3520 R2 : 1.3594 S1 : 1.3281 S2 : 1.3207 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 1.3492 | Take Profit: 1.3573 | Stop Loss: 1.3442 EUR/USD
  14. Daily Commodity Analysis – Energy sinks, gold struggles, China waits. Introduction Oil prices drop as concerns over sticky US inflation heighten demand worries. Reports of higher producer prices in the US, the largest oil consumer, raise concerns about limited fuel consumption growth amid inflation and higher interest rates. Meanwhile, US natural gas prices hit a three-decade low due to the warmest winter on record, impacting demand. Gold prices rise but remain range-bound amid fears of prolonged US rate hikes. Copper prices slip after a strong prior week, with attention on China’s economic cues for the industrial metal. Markets In Focus Today – Brent Crude Oil Oil Drops As Sticky US Inflation Heightens Demand Concerns. Oil prices fell as investor attention returned to the demand outlook after reports of higher producer prices in the U.S., the world’s biggest oil user, stoked worries that sticky inflation and higher interest rates would limit fuel consumption growth. Both Brent and WTI contracts had settled higher on Friday, as geopolitical tensions in the Middle East offset slowing demand forecasts from the International Energy Agency. Markets are also yet to see the direction of demand from China after it returns from a week-long Lunar New Year holiday, while Presidents’ Day in the United States is set to keep trade relatively muted. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 81.8966 | Positive Crossover | Bullish MA 20 : 81.0715 | Positive Crossover | Bullish MA 50 : 80.4680 | Positive Crossover | Bullish Simple : MA 10 : 81.6525 | Positive Crossover | Bullish MA 20 : 81.1121 | Positive Crossover | Bullish MA 50 : 79.1014 | Positive Crossover | Bullish RSI (Relative Strength Index): 58.8856 | Buy Zone | Bullish Stochastic Oscillator : 88.5776 | Buy Zone | Neutral Resistance And Support Levels : R1 : 83.3603 R2 : 85.5650 S1 : 76.2230 S2 : 74.0183 Overall Sentiment: Bullish Market Direction: Buy Trade Suggestion: Limit Buy: 81.67 | Take Profit: 83.49 | Stop Loss: 80.73 NATURAL GAS
  15. Daily FX Analysis – GBP/USD soars, others hold steady. Introduction GBP/USD inches above 1.2600 as the US Dollar weakens, driven by market sentiment anticipating delayed Fed rate cuts. With USD under pressure, GBP/USD consolidates gains. Meanwhile, EUR/USD maintains modest gains below 1.0800 in light trading, impacted by the US Dollar’s decline. Australian Dollar consolidates after gains, supported by dovish Fed comments. USD/JPY retreats to near 150.00 amid improved Japanese Machinery Orders and a subdued US Dollar following Friday’s volatile session. US markets observe a bank holiday on President’s Day. Markets In Focus Today – GBP/USD GBP/USD Inches Higher Above 1.2600 On USD Weakness. GBP/USD is consolidating gains above 1.2600 in early Europe on Monday. The US Dollar experiences downward pressure, influenced by market sentiment leaning towards the delayed Fed rate cuts. A US holiday-thinned trading is likely to extend. GBP/USD benefited from the renewed US Dollar (USD) weakness and snapped a three-day losing streak on Thursday. The pair, however, lost its recovery momentum after testing 1.2600 and edged lower in the early European session on Friday. The 10-year US Treasury bond yield continued to correct lower following the disappointing Retail Sales data from the US on Thursday and weighed on the USD. Meanwhile, Bank of England’s Monetary Policy Committee (MPC) member Megan Greene reiterated on Thursday that the monetary policy will need to remain restrictive for some time, further supporting GBP/USD. Technical Overview With Chart : Moving Averages : Exponential : MA 10 : 1.2614 | Positive Crossover | Bullish MA 20 : 1.2633 | Negative Crossover | Bearish MA 50 : 1.2631 | Negative Crossover | Bearish Simple : MA 10 : 1.2607 | Positive Crossover | Bullish MA 20 : 1.2644 | Negative Crossover | Bearish MA 50 : 1.2676 | Negative Crossover | Bearish RSI (Relative Strength Index): 47.9409 | Buy Zone | Bullish Stochastic Oscillator : 35.0461 | Sell Zone | Positive Resistance And Support Levels : R1 : 1.2763 R2 : 1.2807 S1 : 1.2618 S2 : 1.2574 Overall Sentiment: Neutral Market Direction: Buy Trade Suggestion: Stop Buy: 1.2632 | Take Profit: 1.2727 | Stop Loss: 1.2573 EUR/USD
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