FxPro

2021-03-02 19:20:26 #WaveAnalysis

#AUDUSD reversed from support level 0.7730

• Likely to rise to resistance level 0.7870

https://fxpro.news/market-snapshots/audusd-wave-analysis-2-march-2021-20210302/ Open / Comment

2021-03-02 19:18:54 Weak data from Germany, Chinese bubble fears weigh on markets

On Tuesday, the optimism had faded somewhat for a number of reasons. China’s central bank spokesman is worried about bubbles in the housing market and foreign financial markets. This could be a signal for a tightening of the PBC policy soon.

Such a hard turn could be the same mistake that the Fed made about 100 years ago when it raised interest rates too quickly out of fear of overheating. Eventually, it led to the Great Depression.

Worse still, data out of Europe today is also setting a negative mood. Retail sales across Germany collapsed by 4.5% in January after falling by 9.1% a month earlier.

Germany saw an unexpected rise in the number of unemployed people in February, breaking a seven-month string of job cuts. Figures for Spain also disappointed, showing a drop of 44k (4 times the forecast) after 76k a month earlier.

https://fxpro.news/daily-economic-events/weak-data-from-germany-chinese-bubble-fears-weigh-on-markets-20210302/ Open / Comment

2021-03-01 20:39:37 #WaveAnalysis

#Gold broke powerful support level 1766

• Likely to fall to support level 1700.00

https://fxpro.news/market-snapshots/gold-wave-analysis-1-march-2021-20210301/ Open / Comment

2021-03-01 19:59:35 #WaveAnalysis

#USDCHF broke resistance area

• Likely to rise to 0.9200

https://fxpro.news/market-snapshots/usdchf-wave-analysis-1-march-2021-20210301/ Open / Comment

2021-03-01 17:35:57 Inflation is becoming an increasingly hot topic in macroeconomics, having more and more of a direct impact on market performance. According to preliminary German estimates, annual CPI growth accelerated last month to 1.3% - the highest level in 11 months.

Interestingly, the jump in inflation in the Eurozone has coincided with slippage in EURUSD, which can easily be explained by promises on both sides of the Atlantic not to change rates in the foreseeable future. Accelerating inflation, in this case, is not a sign of economic strength but a threat to the purchasing power of the currency until there are signs of a monetary policy reversal on the horizon, which is unlikely to be soon.

https://fxpro.news/daily-economic-events/euro-area-inflation-is-an-obstacle-not-a-boost-for-eur-20210301/ Open / Comment

2021-03-01 13:49:38 The gold market gave up its support on Friday. The price of the troy ounce lost more than 2.5% intraday to $1717. However, the rate was up $40 in early trading on Monday, nourishing hopes of a rebound after oversold conditions.

As in stocks, the short-term charts show methodical buying of gold on the decline, which brought the price back to the levels before massive stop-orders were triggered.

However, only a move above $1770 (Friday’s intraday highs) would signal that a recovery is underway: we have seen an increase in gold selling on the rise all through February. This trend could remain in force in March as well.

https://fxpro.news/daily-economic-events/correction-attracts-buyers-markets-turn-upward-20210301/ Open / Comment

2021-03-01 13:27:28 Correction attracts buyers

Buyers have returned to the markets with fresh capital. Last week’s most threatening trends had reversed, giving way to a recovery in demand for risk before the situation got out of control.

In the US debt markets, long-term government bond yields are falling, reaching 1.4% for UST10 compared with a peak at 1.61% at some point on Thursday.

The S&P500 and DowJones30 have held their first line of defence. Investors strengthened buying on the intraday declines below the 50-day average and the round levels 3800 and 31000 on Friday, respectively.

Previously, we saw a similar slump in the indices at the end of January. There was then a bearish signal on the technical analysis, but that didn’t stop the markets from going back up and making new highs in February.

https://fxpro.news/daily-economic-events/correction-attracts-buyers-markets-turn-upward-20210301/ Open / Comment

2021-02-26 19:49:39 #WaveAnalysis

#EURAUD reversed from support area

• Likely to reach resistance level 1.6000

https://fxpro.news/market-snapshots/euraud-wave-analysis-26-february-2021-20210226/ Open / Comment

2021-02-26 19:28:44 #WaveAnalysis

#EURNZD reversed from multi-year support level 1.6410

• Likely to rise to resistance level 1.6800

https://fxpro.news/market-snapshots/eurnzd-wave-analysis-26-february-2021-20210226/ Open / Comment