EURUSD
Economic confidence in the Euro Zone surprisingly slowed down to 99.7 in February. This slowdown has raised concerns that the recovery has stalled. The announced data were effective in creating concerns about the disruption in the recovery in the economy. Durable goods orders in the US fell 4.5% in January, the steepest drop since April 2020. Orders excluding transportation rose 0.7%. The announced data pointed out that rising interest rates, inflation and global uncertainties continued to put pressure on the sector in January.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.0728 |
| Resistance 2 | 1.0674 |
| Resistance 1 | 1.0641 |
| Support 1 | 1.0554 |
| Support 2 | 1.0500 |
| Support 3 | 1.0467 |
Daily Pivot Levels
GBPUSD
The UK and the European Union (EU) agreed on the "Windsor Framework Agreement" to find a solution to trade problems under the Northern Ireland Protocol. EU Commission President von der Leyen stated that the Windsor Framework Agreement is a new page and said, "This agreement offers long-term solutions and we believe that these solutions will answer the concerns of the people of Northern Ireland." said. Von compiler stated that the Windsor Framework Agreement started a stronger period in EU-UK relations. The GBP/USD pair is priced at 1.2044 as of this morning.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1.2254 |
| Resistance 2 | 1.2159 |
| Resistance 1 | 1.2110 |
| Support 1 | 1.1967 |
| Support 2 | 1.1872 |
| Support 3 | 1.1823 |
Daily Pivot Levels
XAUUSD
Ounce gold continues its cautious course. After the dollar index rose above the 105.00 level yesterday, the pressure on gold prices increased. This morning, cruises continue in the 104.80 region. This causes the cautious and weak course of gold prices to continue. Expectations of further tightening of the Fed weaken the risk appetite in the markets, and the strengthening of the dollar suppresses commodities. Until the Fed's meeting in March, this uncertainty may cause the risk appetite to remain weak in the markets. There are data to be announced in the USA today. Its impact on pricing may be limited.
Technical Analysis
| Support & Resistance | Level |
|---|---|
| Resistance 3 | 1836 |
| Resistance 2 | 1828 |
| Resistance 1 | 1822 |
| Support 1 | 1809 |
| Support 2 | 1801 |
| Support 3 | 1795 |
Daily Pivot Levels
BRENT OIL
Oil prices are flat this morning. Goldman Sachs stated that they assume that OPEC's production will increase by 1 mn barrels per day in the second half, and that they expect oil prices to gradually increase by $100 per barrel until December. He said the strong increase in fuel demand in China and the stable supply of other producers will push the oil market short in the second half of this year and cause it to reverse the production cut at the OPEC group meeting to be held in June. In global markets, uncertainty about the Fed weakens risk appetite. API weekly oil stocks will be tracked today.
S&P500
After last week's data pointing to high inflation in the USA, the markets are showing signs of recovery as the data calendar is eased and soft landing scenarios are discussed. US stock markets showed a positive outlook yesterday. The rises were prominent in consumer goods, industry and technology sectors. The Dow Jones index gained 0.22%, the S&P 500 index gained 0.31% and the NASDAQ index gained 0.63%. US futures display a sideways-positive outlook on the new day. In terms of data today, Conference Board consumer confidence data, which will be announced in the USA during the day, can be followed as primary data.
