USD/CAD Outlook (22 February 2022)Overall, USD/CAD is ranging across.
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
Macro
USD/JPY Outlook (22 February 2022)Overall, USD/JPY is ranging across. Recently, USD/JPY broke below the key level of 115.
The Japanese Flash Manufacturing PMI data (Actual: 52.9, Forecast: TBA, Previous: 55.4 revised from 54.6) released yesterday indicated a slowdown in the expansion of the manufacturing sector in January.
The BoJ Core CPI y/y data (Forecast: 1.1%, Previous: 0.9%) will be released later at 1300 (GMT+8).
Japanese banks will be closed tomorrow in observance of Emperor’s Birthday. Expect lower trading volatility and volume during the usual Japanese market hours.
USD/JPY’s next support zone is at 114.200 and the next resistance zone of 116.000.
Look for short-term selling opportunities of USD/JPY.
USD Overview (22 February 2022)Yesterday, USD weakened against most major currencies except EUR and CAD.
The flash PMI data will be released later at 2245 (GMT+8).
- Flash Manufacturing PMI (Forecast: 56.2, Previous: 55.5 revised from 55.0)
- Flash Services PMI (Forecast: 53.2, Previous: 51.2 revised from 50.9)
GBP/JPY Outlook (21 February 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY traded into the support zone of 156.000.
The UK flash PMI data will be released later at 1730 (GMT+8).
- Flash Manufacturing PMI (Forecast: TBA, Previous: 57.3 revised from 56.9)
- Flash Services PMI (Forecast: TBA, Previous: 54.1 revised from 53.3)
Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
GBP/USD Outlook (21 February 2022)Overall, GBP/USD is ranging across.
The UK flash PMI data will be released later at 1730 (GMT+8).
- Flash Manufacturing PMI (Forecast: TBA, Previous: 57.3 revised from 56.9)
- Flash Services PMI (Forecast: TBA, Previous: 54.1 revised from 53.3)
Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800.
Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
EUR/JPY Outlook (21 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY traded into the support zone of 130.000.
The French flash PMI data will be released later at 1615 (SGT).
- French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5)
- French Flash Service PMI (Forecast: TBA, Previous: 53.1)
The German Flash PMI data will be released later at 1630 (SGT).
- German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5)
- German Flash Services PMI (Forecast: TBA, Previous: 52.2)
The eurozone flash PMI data will be released later at 1700 (SGT).
- Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0)
- Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2)
Currently, EUR/JPY is testing the support zone of 130.000 and the next resistance zone is at 131.500.
Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 130.000.
EUR/USD Outlook (21 February 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800.
The French flash PMI data will be released later at 1615 (SGT).
- French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5)
- French Flash Service PMI (Forecast: TBA, Previous: 53.1)
The German Flash PMI data will be released later at 1630 (SGT).
- German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5)
- German Flash Services PMI (Forecast: TBA, Previous: 52.2)
The eurozone flash PMI data will be released later at 1700 (SGT).
- Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0)
- Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2)
Currently, EUR/USD is trading down towards the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800.
Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.
NZD/USD Outlook (21 February 2022)Overall, NZD/USD is ranging across.
Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400.
Look for short-term selling opportunities of NZD/USD if it rejects the resistance zone of 0.67100.
AUD/USD Outlook (21 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke below the key level of 0.72.
The Australian flash PMI data released earlier today indicated a faster rate of expansion of the manufacturing sector. Also, the services sector has recovered from the previous contraction.
- Flash Manufacturing PMI (Actual: 57.6, Forecast: NA, Previous: 55.1 revised from 55.3)
- Flash Services PMI (Actual: 56.4, Forecast: NA, Previous: 46.6 revised from 45.0)
AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD.
USD/CAD Outlook (21 February 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27.
The Canadian retail sales data released last Friday indicated a decline in consumer spending in January.
- Core Retail Sales m/m (Actual: -2.5%, Forecast: -2.1%, Previous: 1.1%)
- Retail Sales m/m (Actual: -1.8%, Forecast: -2.1%, Previous: 0.8% revised from 0.7%)
USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD.
USD/JPY Outlook (21 February 2022)Overall, USD/JPY is ranging across.
The Japanese Flash Manufacturing PMI data (Forecast: TBA, Previous: 55.4 revised from 54.6) will be released later at 0830 (GMT+8).
Currently, USD/JPY is testing to break below the key level of 115. Its next support zone is at 114.200 and the next resistance zone of 116.000.
Look for short-term selling opportunities of USD/JPY if it breaks below the key level of 115.
USD Overview (21 February 2022)Last Friday, USD weakened against most major currencies except NZD.
During her speech last Saturday, FOMC member Brainard highlighted that it is appropriate to start increasing interest rate in March.
U.S. banks will be closed today in observance of Presidents’ Day. Expect lower trading volatility and volume during the usual U.S. market hours.
GBP/JPY Outlook (18 February 2022)Overall, GBP/JPY is ranging across.
Currently, GBP/JPY is trading towards the support zone of 156.000 and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
GBP/USD Outlook (18 February 2022)Overall, GBP/USD is ranging across.
Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800.
Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
EUR/JPY Outlook (18 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY rejected the resistance zone of 131.500.
EUR/JPY’s next support zone is at 130.000 and the next resistance zone is at 131.500.
Look for short-term selling opportunities of EUR/JPY.
EUR/USD Outlook (18 February 2022)Overall, EUR/USD is ranging across.
Currently, EUR/USD is testing the resistance zone of 1.13800 and the next support zone is at 1.12000.
Look for short-term selling opportunities of EUR/USD if it rejects the resistance zone of 1.13800.
NZD/USD Outlook (18 February 2022)Overall, NZD/USD is ranging across.
Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400.
Look for short-term selling opportunities of NZD/USD if it rejects the resistance zone of 0.67100.
AUD/USD Outlook (18 February 2022)Overall, AUD/USD is ranging across.
The Australian employment data released yesterday indicated a slowdown in jobs creation last month.
- Employment Change (Actual: 12.9K, Forecast: 0.0K, Previous: 64.8K)
- Unemployment Rate (Actual: 4.2%, Forecast: 4.2%, Previous: 4.2%)
The Australian flash PMI data will be released next Monday at 0600 (GMT+8).
- Flash Manufacturing PMI (Forecast: NA, Previous: 55.1 revised from 55.3)
- Flash Services PMI (Forecast: NA, Previous: 46.6 revised from 45.0)
Currently, AUD/USD is testing to break above the key level of 0.72. Its next support zone is at 0.71000 and the next resistance zone is at 0.73000.
Look for short-term selling opportunities of AUD/USD if it bounces down from the key level of 0.72.
USD/CAD Outlook (18 February 2022)Overall, USD/CAD is ranging across.
The Canadian retail sales data will be released later at 2130 (GMT+8).
- Core Retail Sales m/m (Forecast: -2.1%, Previous: 1.1%)
- Retail Sales m/m (Forecast: -2.1%, Previous: 0.7%)
Currently, USD/CAD is testing to break above the key level of 1.27. Its next support zone is at 1.26100 and its next resistance zone is at 1.29200.
Look for short-term buying opportunities of USD/CAD if it breaks above the key level of 1.27.
USD/JPY Outlook (18 February 2022)Overall, USD/JPY is ranging across.
Currently, USD/JPY is testing to break below the key level of 115. Its next support zone is at 114.200 and the next resistance zone of 116.000.
Look for short-term selling opportunities of USD/JPY if it breaks below the key level of 115.
USD Overview (18 February 2022)Yesterday, USD weakened against most major currencies except EUR and AUD.
FOMC members will be speaking later and tomorrow. During these times, there may be volatility in USD.
FOMC member Waller speaking later at 2345 (GMT+8)
FOMC member Williams speaking tomorrow at 0000 (GMT+8)
FOMC member Waller speaking tomorrow 0230 (GMT+8)
cl1 - oil TA outlook for 2022Oil has been red hot since the pandemic - many ask if they are late, and I do not think so.
Reasons why I am bullish oil -
Ecomm - shipping and freight are going to have to adapt to keep up w pace of adoption and need for quick deliveries. Primary source of transport across the oceans is still tankers.
Underinvestment in hydrocarbons - we are not ready for this new world that politicians love - unfortunately for mother earth we are still very much dependent on fossil fuels
Russia & China on offense, tensions around globe.
I think we see the trend on the left hand side test the high of 133 before YE and I expect we blow through the 103.19 a barrel by June - if we dont have a long winter... 84.71 shuold hold as resistance
GBP/JPY Outlook (17 February 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced down from the key level of 157.
The UK CPI y/y data (Actual: 5.5%, Forecast: 5.4%, Previous: 5.4%) released yesterday indicated continued rise in inflation at a faster pace in January.
GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000.
Look for short-term buying opportunities of GBP/JPY only if it trades above the key level of 157.
