Daily forecast from February 16: EURUSD, Gold, Oil, Gas

Anton Kolhanov Anton Kolhanov

EURUSD

An downtrend will start as soon, as the market drops below support level 1.2490, which will be followed by a move down to support level 1.2450 and 1.2378.
An uptrend will start as soon as the market rises above resistance level 1.2550, which will be followed by a move up to resistance level 1.2640.

GOLD

The market is trading along an uptrend with target on 1365, that may be expected to continue, while market is trading above support level 1358.
An downtrend will start as soon, as the market drops below support level 1358, which will be followed by a move down to support level 1350 and if it keeps on moving down below that level, we may expect the market to reach support level 1339.

US CRUDE OIL

An downtrend will start as soon, as the market drops below support level 61.25, which will be followed by a move down to support level 60.00.
An uptrend will start as soon as the market rises above resistance level 61.70, which will be followed by a move up to resistance level 63.40.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

EUR/USD eases marginally, back to 1.1800

EUR/USD navigates a narrow range on Thursday, hovering around the 1.1800 neighbourhood in a context of humble gains in the US Dollar. The pair’s lacklustre performance come amid the unabated trade uncertainty, geopolitical tensions in the Middle East and the cautious tone from the ECB’s Lagarde.

GBP/USD retreats from tops, approaching 1.3540

GBP/USD partially sets aside Wednesday’s strong advance and recedes to the 1.3540 region on Thursday. Cable’s modest retracement follows the equally acceptable gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold clings to gains just below $5,200, focus on geopolitics

Gold is edging modestly higher on Thursday, adding to Wednesday’s uptick and holding just below the $5,200 mark per troy ounce against the backdrop of modest gains in the US Dollar. In the meantime, attention is turning to the geopolitical scenario following US-Iran nuclear talks.