1. Forex Market Insight
EUR/USD
The euro climbed 0.53% against the dollar at 1.1091, hitting its highest since early March. Meanwhile, Russian and Ukrainian officials met again for peace talks, but they said their positions remain far apart.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Focus on the 1.1031-line today. If the euro runs steadily above the 1.1031-line, then pay attention to the suppression strength of the two positions of 1.1143 and 1.1183.
GBP Intraday Trend Analysis
Fundamental Analysis：
The pound rebounded to nearly the same level as the previous session against the dollar. It briefly fell 0.5% to 1.3088 after the Bank of England (BoE) announced its interest rate decision.
The BoE raised its policy rates for the third consecutive time, restoring borrowing costs to pre-epidemic levels. The UK government bond yields fell across the board after the Bank of England policy decision was announced, with the 2-year bond yield falling more than 10 basis points to 1.30%.
Money markets are no longer betting that the Bank of England will raise rates by 50 basis points at a future meeting, after forecasts of such a large hike as early as June.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound is mainly focused on the 1.3104-line today. If the pound runs above the 1.3104-line, it will pay attention to the suppression of the 1.3186 and 1.3276 positions. If the pound runs below the 1.3104-line, it will pay attention to the support strength of the 1.2991-line.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Spot gold was higher yesterday, rising more than 1% to $1,949.72 per ounce at one point during the session, supported by a retreat in the U.S. dollar and U.S. bond yields, as the market cautiously viewed progress in the Russia-Ukraine peace talks.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold pays attention to the 1929-line today. If the gold price runs steadily above the 1929-line, then it will pay attention to the suppression strength of the 1948 and 1960 positions. If the gold price breaks below the 1929-line, it will open up further downward space. At that time, pay attention to the 1919 and 1909 two positions strength of a position.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Oil prices jumped 8%, extending a streak of dramatic volatility, as the market rebounded after several consecutive days of declines and renewed concerns about supply shortages in the coming weeks due to sanctions against Russia.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
The oil price is focused on the 97.33-line today. If the oil price runs above the 97.33-line, then it will pay attention to the suppression strength of the two positions of 107.52 and 111.95. If the oil price runs below the 97.33-line, it will pay attention to the support strength of 93.57 and 90.44.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
