1. Forex Market Insight
EUR/USD
Markets have recently priced in a higher risk premium for the euro, and there are growing concerns that Russia’s impasse with the West could prompt it to limit energy supplies to Europe.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Today, we will pay attention to the suppression strength of the 1.1357-line. If the euro runs steadily below the 1.1357-line, we will pay attention to the support strength of 1.1315 and 1.1267 below. If the euro strength breaks above the 1.1357-line, we will pay attention to the suppression strength of the two positions of 1.1378 and 1.1401.
GBP Intraday Trend Analysis
Fundamental Analysis：
The pound fell by 0.8% against the dollar during the session to 1.3440, the lowest level since 3rd January 2022, before trimming losses.
The pound’s 1-cycle implied yield was at its highest level in a month, partly due to the upcoming report on the investigation into the British Prime Minister’s Office’s breach of epidemic prevention rules for hosting parties.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound is mainly focused on the 1.3522-line today. If the pound runs above the 1.3522-line, it will pay attention to the suppression of the 1.3574 and 1.3661 positions. If the pound runs below the 1.3522-line, it will pay attention to the support strength of the 1.3409 and 1.3365 positions.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Gold prices rose slightly yesterday as geopolitical tensions around Ukraine enhanced gold’s safe-haven appeal, although a sharp rally in U.S. stocks at lower levels and a stronger dollar limited gains. The focus during the day will be on the U.S. Conference Board Consumer Confidence Index.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold pays attention to the 1831-line today. If the gold price runs steadily above the 1831-line, then pay attention to the suppression strength of the 1844 and 1855 positions. If the gold price falls below the 1831-line, it will open up further callback space. At that time, pay attention to the strength of 1819 and 1804.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Oil prices fell yesterday as investors worried that the Federal Reserve may raise interest rates sooner than expected, causing risk markets such as stocks to fall while the dollar rose.
U.S. stocks fell sharply during the day, dragging down other risk assets such as crude oil. However, oil price declines were limited by geopolitical tensions.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
The oil price is focused on the 85-line today. If the oil price runs below the 85-line, then it will pay attention to the support strength of the 82.83 and 80 positions. If the oil price runs above the 85-line, then pay attention to the suppression of the 87-line.
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.
