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GBP/JPY Outlook (22 February 2022)Overall, GBP/JPY is ranging across. The UK flash PMI data released yesterday indicated continued expansion in the manufacturing sector while the services sector expanded at a much faster pace than previous date release. - Flash Manufacturing PMI (Actual: 57.3, Forecast: TBA, Previous: 57.3 revised from 56.9) - Flash Services PMI (Actual: 60.8, Forecast: TBA, Previous: 54.1 revised from 53.3) Bank of England committee member Ramsden will be speaking later at 1845 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000. Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
Short
by JinDao_Tai
GBP/USD Outlook (22 February 2022)Overall, GBP/USD is ranging across. The UK flash PMI data released yesterday indicated continued expansion in the manufacturing sector while the services sector expanded at a much faster pace than previous date release. - Flash Manufacturing PMI (Actual: 57.3, Forecast: TBA, Previous: 57.3 revised from 56.9) - Flash Services PMI (Actual: 60.8, Forecast: TBA, Previous: 54.1 revised from 53.3) Bank of England committee member Ramsden will be speaking later at 1845 (GMT+8). During this time, there may be volatility in GBP. Currently, GBP/USD is testing the resistance zone of 1.36000 and the next support zone is at 1.33800. Look for short-term selling opportunities of GBP/USD if it rejects the resistance zone of 1.36000.
Short
by JinDao_Tai
EUR/JPY Outlook (22 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY broke the support zone of 130.000. The series of eurozone flash PMI data released yesterday indicated that business activities continued to expand. - French Flash Manufacturing PMI (Actual: 57.9, Forecast: TBA, Previous: 55.5) - French Flash Service PMI (Actual: 57.6, Forecast: TBA, Previous: 53.1) - German Flash Manufacturing PMI (Actual: 58.5, Forecast: TBA, Previous: 59.8 revised from 60.5) - German Flash Services PMI (Actual: 56.6, Forecast: TBA, Previous: 52.2) - Flash Manufacturing PMI (Actual: 58.4, Forecast: TBA, Previous: 58.7 revised from 59.0) - Flash Services PMI (Actual: 55.8, Forecast: TBA, Previous: 51.1 revised from 51.2) EUR/JPY’s next support zone is at 128.800 and the next resistance zone is at 130.000. Look for short-term selling opportunities of EUR/JPY.
Short
by JinDao_Tai
EUR/USD Outlook (22 February 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800. The series of eurozone flash PMI data released yesterday indicated that business activities continued to expand. - French Flash Manufacturing PMI (Actual: 57.9, Forecast: TBA, Previous: 55.5) - French Flash Service PMI (Actual: 57.6, Forecast: TBA, Previous: 53.1) - German Flash Manufacturing PMI (Actual: 58.5, Forecast: TBA, Previous: 59.8 revised from 60.5) - German Flash Services PMI (Actual: 56.6, Forecast: TBA, Previous: 52.2) - Flash Manufacturing PMI (Actual: 58.4, Forecast: TBA, Previous: 58.7 revised from 59.0) - Flash Services PMI (Actual: 55.8, Forecast: TBA, Previous: 51.1 revised from 51.2) Currently, EUR/USD is testing to break below the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800. Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.
Short
by JinDao_Tai
2
NZD/USD Outlook (22 February 2022)Overall, NZD/USD is ranging across. The Reserve Bank of New Zealand (RBNZ) will be announcing their monetary policy tomorrow at 0900 (GMT+8). It is expected that the central bank will be increasing interest rate by 0.25%. If the RBNZ carries out a rate hike of 0.50%, NZD will likely be bullish. Also, focus on the interest rate projection released in the quarterly monetary policy statement on whether any revisions have been carried out. An upwards revision in the expected interest rate in the near future will likely lead to a bullish NZD. A press conference will be held at 1000 (GMT+8). During this time, volatility is expected in NZD. Currently, NZD/USD is testing the resistance zone of 0.67100 and the next support zone is at 0.65400. Look for short-term selling opportunities of NZD/USD if it rejects the resistance zone of 0.67100 up until the announcement from the RBNZ.
Short
by JinDao_Tai
AUD/USD Outlook (22 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD bounced down from the key level of 0.72. Reserve bank of Australia Assistant Governor Kent will be speaking later at 0900 (GMT+8). During this time, there may be volatility in AUD. The Wage Price Index q/q data (Forecast: 0.7%, Previous: 0.6%) will be released tomorrow at 0830 (GMT+8). AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term selling opportunities of AUD/USD.
Short
by JinDao_Tai
USD/JPY Outlook (22 February 2022)Overall, USD/JPY is ranging across. Recently, USD/JPY broke below the key level of 115. The Japanese Flash Manufacturing PMI data (Actual: 52.9, Forecast: TBA, Previous: 55.4 revised from 54.6) released yesterday indicated a slowdown in the expansion of the manufacturing sector in January. The BoJ Core CPI y/y data (Forecast: 1.1%, Previous: 0.9%) will be released later at 1300 (GMT+8). Japanese banks will be closed tomorrow in observance of Emperor’s Birthday. Expect lower trading volatility and volume during the usual Japanese market hours. USD/JPY’s next support zone is at 114.200 and the next resistance zone of 116.000. Look for short-term selling opportunities of USD/JPY.
Short
by JinDao_Tai
GBP/JPY Outlook (21 February 2022)Overall, GBP/JPY is ranging across. Recently, GBP/JPY traded into the support zone of 156.000. The UK flash PMI data will be released later at 1730 (GMT+8). - Flash Manufacturing PMI (Forecast: TBA, Previous: 57.3 revised from 56.9) - Flash Services PMI (Forecast: TBA, Previous: 54.1 revised from 53.3) Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000. Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.
Short
by JinDao_Tai
EUR/JPY Outlook (21 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY traded into the support zone of 130.000. The French flash PMI data will be released later at 1615 (SGT). - French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5) - French Flash Service PMI (Forecast: TBA, Previous: 53.1) The German Flash PMI data will be released later at 1630 (SGT). - German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5) - German Flash Services PMI (Forecast: TBA, Previous: 52.2) The eurozone flash PMI data will be released later at 1700 (SGT). - Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0) - Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2) Currently, EUR/JPY is testing the support zone of 130.000 and the next resistance zone is at 131.500. Look for short-term selling opportunities of EUR/JPY if it breaks the support zone of 130.000.
Short
by JinDao_Tai
EUR/USD Outlook (21 February 2022)Overall, EUR/USD is ranging across. Recently, EUR/USD rejected the resistance zone of 1.13800. The French flash PMI data will be released later at 1615 (SGT). - French Flash Manufacturing PMI (Forecast: TBA, Previous: 55.5) - French Flash Service PMI (Forecast: TBA, Previous: 53.1) The German Flash PMI data will be released later at 1630 (SGT). - German Flash Manufacturing PMI (Forecast: TBA, Previous: 59.8 revised from 60.5) - German Flash Services PMI (Forecast: TBA, Previous: 52.2) The eurozone flash PMI data will be released later at 1700 (SGT). - Flash Manufacturing PMI (Forecast: TBA, Previous: 58.7 revised from 59.0) - Flash Services PMI (Forecast: TBA, Previous: 51.1 revised from 51.2) Currently, EUR/USD is trading down towards the key level of 1.13. Its next support zone is at 1.12000 and the next resistance zone is at 1.13800. Look for short-term selling opportunities of EUR/USD if it breaks below the key level of 1.13.
Short
by JinDao_Tai
AUD/USD Outlook (21 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke below the key level of 0.72. The Australian flash PMI data released earlier today indicated a faster rate of expansion of the manufacturing sector. Also, the services sector has recovered from the previous contraction. - Flash Manufacturing PMI (Actual: 57.6, Forecast: NA, Previous: 55.1 revised from 55.3) - Flash Services PMI (Actual: 56.4, Forecast: NA, Previous: 46.6 revised from 45.0) AUD/USD’s next support zone is at 0.71000 and the next resistance zone is at 0.73000. Look for short-term selling opportunities of AUD/USD.
Short
by JinDao_Tai
USD/CAD Outlook (21 February 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27. The Canadian retail sales data released last Friday indicated a decline in consumer spending in January. - Core Retail Sales m/m (Actual: -2.5%, Forecast: -2.1%, Previous: 1.1%) - Retail Sales m/m (Actual: -1.8%, Forecast: -2.1%, Previous: 0.8% revised from 0.7%) USD/CAD’s next support zone is at 1.26100 and its next resistance zone is at 1.29200. Look for short-term buying opportunities of USD/CAD.
Long
by JinDao_Tai
1