1. Forex Market Insight
EUR/USD
EUR/USD rose 0.07% to 1.0882 yesterday, 11th April 2022, ending a seven-day losing streak.
This may just be a wave of relief rallies because the euro most probably will have a difficult time going upward until the geopolitical risks in Ukraine and Russia are completely solved.
Macron will face Le Pen on 24th April in what is sure to be a neck-and-neck contest.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
We focus on the 1.0890-line today. If the euro runs steadily below the 1.0890-line, then pay attention to the support strength of the two positions of 1.0832 and 1.0776. If the strength of the euro breaks above the 1.0890-line, then pay attention to the suppression strength of the two positions of 1.0940 and 1.0986.
GBP Intraday Trend Analysis
Fundamental Analysis：
Recently, the market has weakened bets on the Bank of England to quickly raise interest rates bearish pound.
In addition, the weakening of the euro after the West said it needed to impose new sanctions on Russia also weighed on the pound.
Bank of England Deputy Governor Cunliffe recently said he did not believe business and consumer expectations for persistently high inflation were becoming entrenched.
Therefore, having to increase the interest rate hikes might not be the necessary action to encounter and this statement has indirectly brought some upward pressure on the pound too.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
We focus on the 1.0890-line today. If the euro runs steadily below the 1.0890-line, then pay attention to the support strength of the two positions of 1.0832 and 1.0776. When the euro breaks above the 1.0890-line, we will pay attention to the suppression strength of the two positions of 1.0940 and 1.0986.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Spot gold rose slightly to close at $1,953.44 per ounce, after hitting $1,969.22 earlier, the highest level since 14th March.
Markets shrugged off the persistent rise in U.S. bond yields and focused their attention on inflation, especially inflationary pressures on food prices.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold is focused on the 1965-line today. If the gold price runs steadily below the 1965-line, then it will pay attention to the support strength of the 1948 and 1940 positions. If the gold price breaks above the 1965-line, it will open up further upward space. At that time, we will pay attention to the suppression of the two positions in 1974 and 1980.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
U.S. oil fell more than 3% in late trading and fell 5.42% during the session, hitting a new low of $92.93 per barrel since 25th February.
Brent oil falls below $100 per barrel on fears that the coronavirus will cut demand for crude from Asian powerhouses.
Meanwhile, the International Energy Agency (IEA) countries plan to release a record amount of strategic oil reserves.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
The oil price is concerned about the 93.57-line today. If the oil price runs above the 93.57-line, then it will pay attention to the suppression strength of the two positions of 97.33 and 100.65. If the oil price runs below the 93.57-line, it will pay attention to the support strength of 91.54 and 90.44.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
