02/16 Market report

【USOIL】

Russia said that it has partially withdrawn its troops and this makes investors in the market feel less nervous about the war between Ukraine and Russia. However, the crisis has not been completely lifted. Russia is ready to engage in a dialogue with the United States and allies to see if there will be a closer release.

The crude oil market had a pullback from 95 dollars per barrel of oil to 92 dollars per barrel of oil because of the news. In terms of technical lines, there is still a high and has not broken the low of the upward trend. The rising channel has not been broken as well and this means that this bullish pattern is not over. With this international message that made a pullback adjustment, investors may still need to continue tracking the news on Ukraine and Russia. 

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

【Dow Jones Index USA30】

On the afternoon of February 15, the news of the withdrawal of Russian troops turned the global stock market upside and the Dow Jones index in the United States rose by 423 points, nearly 1.22%.

Dow Jones experienced the previous 4 days of decline and finally rebounded yesterday. This rise in the amplitude is actually not particularly large, but the current Dow Jones index formed a triangle convergence and waiting for which side of the market to break through next.

But in terms of the Dow pricing, the breakthrough of the distance triangle convergence needs 1000 points upwards and only 500 points downwards. It is still more favourable for the bears. The market is not suitable for swing trading in the near future as the volatility is too large.

USA30 –D1

Resistance 1: 34818 / Resistance 2: 35477 / Resistance 3: 36514

Support 1: 34615 / Support 2: 33644 / Support 3: 33136

【XAUUSD】

The market headlines are probably filled with Russian withdrawal messages. The price of gold has indeed been pulled back by this information. Yesterday, gold fell from $1870 per ounce to about $1850 per ounce.

However, the easing of war does not mean that there will be no war. The withdrawal of troops by the Russians is a partial withdrawal and there are still some peace talks that need to be discussed in the follow-up. It can only be said that the problem has been solved temporarily.

At present, gold is still in an upward trend. The Alligator is showing a golden cross while the KD shows a high-end figure. The trend of the technical line is actually very strong in the short term.

XAUUSD – D1

Resistance 1: 1880.80 / Resistance 2: 1915.50

Support 1: 1853.50 / support 2: 1833.00 / support 3: 1813.50

【EURUSD】

The EU is currently working on a €20 billion financing plan for Africa. You heard that right! It's Africa. They are ready to support Africa's transport, networks, energy, digital, education, health... etc.

It is not that the EU wants to do charity, but at this stage, China's investment in African countries is actually quite extensive. The purpose of the EU's plan is to strengthen the EU's influence on Africa and reduce China's influence on Africa.

At present, the market of EURUSD is consolidating and there is no big changes in the rise and fall of the market. The recent changes in EURUSD came from the movement of the US dollar. It is more important to pay attention to the dynamics of the dollar in the short term.

EURUSD – D1

Resistance 1: 1.13880 / Resistance 2: 1.14838 / Resistance 3: 1.15230

Support 1: 1.12500 / Support 2: 1.11900 / Support 3: 1.11203

OnePro Special Analyst

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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.

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