【GBPUSD】
The United Kingdom announced that the CPI consumer price index for January 2022 was 5.5% and that was the highest value in 30 years. The market believes that the Bank of England should continue to adopt a strategy of raising interest rates. Three consecutive interest rate hikes could make the pound have lots of buying.
In terms of technical lines, the recent trend of the pound is slowly converging into a triangle. The current Alligator presents a golden cross while KD also shows a golden cross. This indicates that the market is still optimistic about the pound. It seems that the opening of KD will take a while to converge, and any follow-ups would depend on whether the near resistance can be defended.
GBPUSD – D1
Resistance 1: 1.37482 / Resistance 2: 1.38337 / Resistance 3: 1.39138
Support 1: 1.33585 / Support 2: 1.31625
【USOIL】
Japan announced the release of 260 million barrels of national reserves. This is the second time Japan has auctioned crude reserves since December 2021. This measure has reduced the supply pressure of the crude oil market by a little bit.
What do I mean by only a little？ Crude oil inventories at North America's largest crude transhipment centre have been reduced for 6 consecutive weeks. It fell by 1.9million barrels this week and that indicates that the demand for crude oil will continue to rise.
Although the price of crude oil fell from 95USD per barrel to 91USD per barrel, KD became a death crossover but the daily Alligator still showed a large golden cross.
Although it is likely for crude oil prices to pull back in the near future, the overall trend of crude oil has not been out of the pattern as the bulls are still quite strong.
USOIL – D1
Resistance 1: 94.478 / Resistance 2: 98.000 / Resistance 3: 100.000
Support 1: 91.147 / Support 2: 89.239 / Support 3: 86.694
【XAUUSD】
Russias military build-up near Ukraine has expanded to include supplies of blood along with other medical materials that would allow it to treat casualties and has also sent more fighter jets to Ukraine. In addition, Lithuania's military chief also stated that Russia has continued to increase its deployment. The tensions between Ukraine and Russia have not subsided.
Coupled with the beginning of accusations between government forces and pro-Russian separatists within Ukraine, the situation of conflict makes war more and more likely.
This destabilizing factor has caused gold to generate a wave of gains of 1900USD per ounce.
In terms of technical line, after breaking through the key resistance of 1900USD, the next resistance lies at 1920USD with 1900USD continuing to be the key support. This drove the technical line closer to the bulls. Alligator shows a golden cross while the KD shows a high-end passivation. The buyer's strength has continued to show.
XAUUSD – D1
Resistance 1: 1900.50 / Resistance 2: 1915.50
Support 1: 1880.80 / Support 2: 1853.50 / Support 3: 1833.00
【Bitcoin】
The market sentiment index of virtual currency has become extremely fearful and neutral. The market sentiment index is often used by virtual currencies as the basis for the rise and fall of virtual currencies. With the rebound of Bitcoin, Bitcoin now accounts for 4% of the virtual currency market and this shows that the funds of virtual currencies are gradually moving from altcoins to Bitcoin.
As seen from the technical line, the recent Bitcoin Alligator shows a golden cross while the KD also shows a golden cross. The market's buying power has continued for a period of time. The opening of Alligator has continued to expand and there is still room for KD's K value to go over 50.
BITCOIN – D1
Resistance 1: 44650 / Resistance 2: 45750 / Resistance 3: 52150
Support 1: 39650 / Support 2: 37350 / Support 3: 32950
OneProSpecial Analyst
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