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Today’s February 4 2022 Market Analysis: Harsh Climate Threatening Petroleum Supply

Today’s February 4 2022 Market Analysis: Harsh Climate Threatening Petroleum Supply. The US dollar has almost fallen. this week to 2%, which is the most significant weekly decline since March 2020. On the other hand, EUR / USD rose by 0.2% to 1.1456. The main reason for the growth of the euro was the ECB press conference after the political meeting at which the President of the Central Bank Christine Lagarde allowed the impending rise in interest rates. It is supported by Goldman Sachs analysts. In the current report, strategists revealed expectations of two 25 key interest rates in September and December. The decision is due in March.

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Oil rose on Friday as snowstorms hit the United States and promised tight oil reserves. Brent crude increased by 0.5% and WTI by 0.6%. Thus, after the Arctic eruption that hit Texas and disrupted part of oil production, WTI recovered by more than $ 90. While the US freezes, the diplomatic climate does not appear to have changed: the NATO ambassador said the US and its allies would continue to risk sanctions in response to military action on Ukraine’s borders. “Many economic sanctions and consequences” are promised to cover Nord Stream 2, Russia’s main pipeline, the main economic facility.

The price of Brent crude oil is 92.28 USD, WTI – 91.51 USD, GBP / USD – 1.3577, EUR / USD – 1.1458 and gold is valued at 1810.30 USD per ounce.

Gold Analysis

The price of gold is trading around 1805.00 and is waiting for a positive stimulus, which will help push the price to continue positive trades, especially targeting the level of 1825.15, with the break at 1808.00 priismissy accelerating to achieve this. purpose. On the other hand, it should be noted that the eruption of 1797.00 and the stabilization below it will stop the proposed positive scenario and push the price back to the bottom.

Expected trade margin: between support 1790.00 and resistance 1825.00.

Forecast trend: strong.

Gold analysis price chart
Gold analysis price chart – Source: Grand Capital

GBP/USD Analysis

The GBP / USD pair has managed to reach our extended target of 1.3610 and is now trying to break it to show price direction and reaffirm the resumption of the main bullish trend as we expect to reach more positive targets and 1.3685. doe 1.3745.

The bullish trend will therefore remain valid and effective for the foreseeable period, with a break of 1.3610 forcing the price to return to the bottom and initially test the level of 1.3525. Expected volume of trading: between support 1.3525 and resistance 1.3710.

General trend forecast for today: bullish.

GBP/USD analysis price chart
GBP/USD analysis price chart – Source: Grand Capital

EUR/SEK Analysis

A general trend is beginning. The currency pair is between 365 and 135 moving averages. The amazing oscillator shows bull divergence. The oblique channel of the following structure is pierced.

Trading idea:

Buy if the curve is larger than 10.4281 (if a rising wave structure is created).

Stop loss below the glass level 10.3628.

Target level: 10.5520.

EUR/SEK analysis price chart
EUR/SEK analysis price chart – Source: Grand Capital

Trading idea for Siemens AG (XETRA) #SIE

A general trend is beginning. The structure of the subsequent waves is cut off. The amazing oscillator shows bull divergence.

Trading idea:

Buy when the emerging wave structure is formed, where the wave (A) intersects the inclined channel of the truncated progeny structure.

Stop loss below the local minimum of the broken offspring structure.

Target level: 147.20; 156.90.

Trading idea for Siemens AG (XETRA)
Trading idea for Siemens AG (XETRA) – Source: Grand Capital

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