【Gold】
The Ukrainian representative said on the 13th that the Russian talks has become more constructive and they believe that the next negotiation should allow the two delegations to reach a “common position”. The next negotiation will be on the 14 March.
Recently, gold has become the focus of market investors because of war factors. The essence of gold is still a safe haven for market risks and at this stage, there are two unstable factors. The unstable factors are interest rate increases and war.
From the technical line, the daily gold Alligator shows a golden cross while the KD is at death cross. These two indicators offset each other and shows that the current gold in the second ounce of $1969 to $2069 in the middle of the spiral and is still lacking a clear direction. The US interest rate decision will be announced this week and if the US dollar index soars, the US dollar-denominated gold will be affected by the appreciation of the US dollar and depreciate.
XAUUSD-D1
Resistance point 1: 1990.00 / Resistance point 2: 2000.00 / Resistance point 3: 2020.00
Support point 1: 1967.00 / Support point 2: 1950.00 / Support point 3: 1920.00
【Crude Oil】
Iran's oil minister said that the United States did seize oil tankers carrying Iranian crude oil in August 2020. One thing to note would be that Iran used words to describe the United States like an enemy. Iran nuclear talks have resume with Tehran focused on sanctions relief.
From the technical line, the crude oil market fell from the highest point of $130 per barrel to $110 per barrel. This resulted in the opening of the Alligator narrowed. Although the current opening is still a golden cross, KD has dropped to a lower figure. This shows that crude oil is not as bullish as before. The problem of crude oil supply at this stage still needs to be solved and that should be the key to the direction of crude oil.
USOIL-D1
Resistance point 1: 108.300 / Resistance point 2: 111.500 / Resistance point 3: 115.800
Support point 1: 103.200 / support point 2: 100.00 / support point 3: 98.800
【Dow Jones】
The recent Dow Jones index movement has been on the war between Ukraine and Russia and the speed of the central bank's resistance to inflation. When the Russian president hinted that the negotiations will progress, the Dow Jones rose by three hundred points. When the result of the results of the negotiations did not come out well, there was a fall of two hundred points. There will be a US interest rate decision this week and many officials have expected the raise of interest rates by one yard.
From the technical line, the daily Alligator show a death cross while the KD show a golden cross. The technical line is not very consistent because the market has recently oscillated near the low. This week's Fed interest rate decision is certain and the outlook of the Russia-Ukraine war is still unclear.
USA30-D1
Resistance point 1: 33500 / Resistance point 2: 34200 / Resistance point 3: 34800
Support point 1: 32800 / support point 2: 32200 / support point 3: 31800
【Japanese Yen】
The Federal Reserve will hold an interest rate decision this week and they are expected to carry out a continuous interest rate hike road. At this stage, the Bank of Japan looks to have their long-term interest rate at 0%. The funds in the market have gradually changed due to the lending of Japanese funds to repay the US dollar funds and this resulted in the exchange rate of the US dollar against the Japanese currency hitting a five-year high.
From the technical line type, the daily chart of USDJPY shows a KD high-end figure and the Alligator a gold cross. With the breakthrough of a new high, the trend of the US dollar against the Japanese dollar is bullish. It shows that the movement has both fundamental support of the central bank's policy and also the sentiments of investors' buying and selling. There are more investors who are optimistic about the follow-up of the USDJPY.
USDJPY-D1
Resistance point 1: 118.200 / Resistance point 2: 118.800 / Resistance point 3: 119.500
Support 1: 116.200 / Support 2: 115.500 / Support 3: 114.800
OneProSpecial Analyst
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