02/07 Market report

【EURUSD】

Last week's US non-farm payrolls data was much better than the market's estimates and the market generally believed that this excellent figure indicated that the United States already had enough capital to allow the Fed to carry out hawkish interest rate hikes. The Dollar Index had a small wave of gains after the release of non-farm payrolls data.

The recent data of the euro was not very good. Coupled with the central bank of the euro area not having any positive measures, the euro has been falling all the way in the past few months. The EURUSD rose all the way from 1.12 to 1.15 due to this week's overall dollar index weakness. The release of non-farm data after the dollar index rose caused the euro rally to pause.

In the technical indicators of the euro, KD has shown a high-end blunting upward pattern while the Alligator shows a golden cross. This indicates that this wave of gains is not little. In the process of rising, it has been suppressed at the recent high of 1.148. However, there are still enough reasons to continue rising in the new wave of trends.

EURUSD – D1

Resistance 1: 1.14838 / Resistance 2: 1.15230 / Resistance 3: 1.16928

Support 1: 1.13880 / Support 2: 1.11900 / Support 3: 1.11203

【BITCOIN】

Bitcoin directly went 2000 points up in a day and stood at the 40,000-point level. This is a boost for Bitcoin as it fell all the way from 68,000 to 38,000 low tide over the past few months.

The main reason for this is that the Fed expects the probability that the march rate hike may become 2 yards from the original 1 yard. The addition of an unknown risk sentiment as a possible hedging method in the market and the recent pullback, gave Bitcoin a turning point.

The rise of Bitcoin drove the daily KD indicator into a high-end blunted upward pattern but because of the long-term decline, the moving average did not directly become a golden cross. This indicates that there is strength in the buying support and long-term performance.

BITCOIN – D1

Resistance 1: 39608 / Resistance 2: 41715 / Resistance 3: 45439

Support 1: 32965 / Support 2: 31019 / Support 3: 28976

【USOIL】

The international crude oil price broke through the high point to a new high price. It broke through the $90 per barrel barrier and was trading at $92 per barrel.

This price was last traded in 2014. The short-term dollar interest rate hike information did not affect the price of crude oil which continued to rise. This showed that the market still believes that crude oil is still in short supply at this stage. Although the oil exporting country OPEC continues to promise to increase production, the production could not keep up with the promised 400,000 barrels. It seems that there is still a need to solve the energy crisis in the short term.

In the technical line chart with crude oil continuing to hit a new high, KD shows a high-end figure and the moving average shows a golden cross at opening. This indicates that the bullish pattern of crude oil is still the same.

USOIL – D1

Resistance 1: 93.382 / Resistance 2: 100.668

Support 1: 91.147 / Support 2: 89.239 / Support 3: 86.694

OnePro Special Analyst

Buy or sell or copy trade crypto CFDs atwww.oneproglobal.com

The foregoing is a personal opinion only and does not represent any opinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor.  

www.oneproglobal.com