Crude oil rallied sharply last Thursday, but not by enough to push prices into positive territory for the week, let alone the month of February. It went on to sell off sharply yesterday, following a report that OPEC+ would not be extending their production cuts beyond April. The production cuts have been running since May 2023, and have been extended on several...
Current Market Sentiment: The EUR/USD currency pair is trading in a neutral range, with recent price action moving sideways. The key level to watch is 1.0530, which could dictate the next directional move.
Bullish Scenario:
A confirmed breakout above 1.0530 could trigger a bullish move, leading to further upside momentum. If buyers sustain control, the next...
The DAX (DE40) Index maintains a bullish sentiment, supported by a longer-term uptrend. Recent price action has confirmed a breakout above a key level, but the possibility of a retracement remains, making it crucial to assess both bullish and bearish scenarios.
Key Levels to Watch
Resistance Levels: 22900, 23145, 23460
Support Levels: 22230, 21900, 21780
Bullish...
Tuesday March 4
Data: Japan February consumer confidence index, France January budget balance, Italy January unemployment rate, Eurozone January unemployment rate
Central banks: Fed's Williams speaks
Earnings: Crowdstrike, Sea, Flutter Entertainment, Thales, Ashtead, On Holding, Davide Campari-Milano
This communication is for informational purposes only and...
The AUDJPY currency pair maintains a bearish sentiment, supported by a longer-term downtrend. Price action remains pressured, with a key swing low acting as an immediate resistance level. However, potential upside corrections could test key resistance areas before determining the next directional move.
Key Levels to Watch
Resistance Levels: 94.50, 95.50 (20 DMA),...
The NZD/USD currency pair remains in a bearish trend, supported by the longer-term prevailing downtrend. However, recent intraday price action suggests sideways consolidation, indicating a potential buildup before the next significant move.
Bearish Scenario:
The key level to watch is 0.5690, aligning with the previous consolidation zone.
A potential oversold...
The USD/CHF currency pair remains in a bullish trend, supported by the longer-term uptrend. However, recent intraday price action has been consolidating near the previous breakout zone, signaling a potential buildup before the next directional move.
Bullish Scenario:
The key level to watch is 0.8950, which aligns with the previous consolidation range and the...
The S&P 500 (US500) index maintains a bullish bias within the broader long-term uptrend. However, recent price action suggests a period of consolidation following the retest of the all-time high on February 19, 2025. The market is currently at a critical juncture, with the 5918 level acting as a key support zone.
Bullish Scenario:
The 5918 level serves as a newly...
The GOLD (XAUUSD) index pair price action sentiment appears bearish, supported by the loss of longer-term prevailing uptrend. The recent intraday price action appears to be an overbought consolidation after reaching the all-time high on 20th Feb ‘25.
The key trading level is at the 2896 level, 20-day moving average and the rising support trend line zone. An...
The EUR/GBP currency pair remains in a bearish trend, with price action aligning with the longer-term prevailing downtrend. However, short-term moves could see a corrective bounce before resuming the dominant trend.
Bearish Scenario:
The key level to watch is 0.8274, which serves as a crucial resistance zone.
A potential oversold rally toward 0.8274 may result in...
The GBPAUD currency pair maintains a bullish sentiment, supported by a longer-term uptrend. Recent price action has confirmed a breakout above a key level, but the possibility of a retracement remains, making it crucial to assess both bullish and bearish scenarios.
Key Levels to Watch
Resistance Levels: 2.030, 2.040, 2.056
Support Levels: 2.010, 1.9927, 1.9770,...
The GBP/USD currency pair maintains a bullish intraday bias, supported by the longer-term prevailing uptrend. However, price action near key levels suggests potential short-term corrections before the next directional move is confirmed.
Bullish Scenario:
The key level to watch is 1.2560, which marks the February 28th swing low and serves as a pivotal support...
The FTSE 100 (UK100) index continues to trade within a prevailing long-term uptrend, indicating a bullish bias. However, near-term price action suggests potential volatility around key levels, requiring confirmation of directional momentum.
Bullish Scenario:
The key level to watch is 8708, which represents the bull flag breakout level.
A successful retest and...
Monday March 3
Data: US February ISM index, total vehicle sales, January construction spending, China February Caixin manufacturing PMI, UK January net consumer credit, M4, Japan January jobless rate, job-to-applicant ratio, Q4 MoF survey, February monetary base, Italy February manufacturing PMI, new car registrations, budget balance, Eurozone February CPI,...
Cardano (ADAUSD) maintains a bullish sentiment in the longer term, but recent price action is showing signs of potential weakness, as a double-top reversal pattern may be forming following its all-time high at 13,250 on December 3, 2024. The key trading level at 8,660 will be crucial in determining the next directional move.
Key Levels to Watch
Resistance Levels:...
Litecoin (LTCUSD) remains in a neutral stance, as price action continues to trade within a longer-term sideways range. The key trading level at 1,140 will play a crucial role in determining the next directional move.
Key Levels to Watch
Resistance Levels: 1,140, 1,395, 1,523, 1,709
Support Levels: 1,082, 1,000
Bearish Scenario
If LTCUSD fails to break above 1,140...
TRON (TRONUSD) remains in a bullish trend, supported by a longer-term uptrend. However, recent intraday price action suggests a sideways consolidation, with the rising support trendline acting as a key structural level.
Key Levels to Watch
Resistance Levels: 2,466, 2,614, 2,780
Support Levels: 2,034, 1,925, 1,741
Bullish Scenario
A successful bounce from the...
Ethereum (ETH/USD) remains in a bearish trend, aligned with the longer-term prevailing downtrend. The price action suggests continued selling pressure, with critical resistance and support levels defining the next move.
Key Technical Levels
Immediate Resistance: $2,490 (previous support, now acting as resistance)
Major Resistance Levels:
$2,634
$2,785
Key...
