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Macro

EUR/JPY Outlook (08 February 2022)Overall, EUR/JPY is ranging across. Recently, EUR/JPY bounced down from the key level of 132. During her testimony yesterday, European Central Bank President Lagarde highlighted that the chance of inflation stabilizing at the central bank’s 2% target has increased. Currently, EUR/JPY is bouncing off the support zone of 131.500 and the next resistance zone is at 134.000. Look for buying opportunities of EUR/JPY only if it breaks above the key level of 132.
Long
by JinDao_Tai
AUD/USD Outlook (08 February 2022)Overall, AUD/USD is ranging across. The Australian Retail Sales m/m data (Actual: -4.4%, Forecast: TBA, Previous: -4.4%) released earlier today indicated continued decline in consumer spending in January. The Australian Westpac Consumer Sentiment data (Forecast: NA, Previous: -2.0%) will be released tomorrow at 0730 (GMT+8). Currently, AUD/USD is testing the resistance zone of 0.71000 and its next support zone is at 0.68200. Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.71000.
Short
by JinDao_Tai
GBP/USD Outlook (07 February 2022)Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the resistance zone of 1.36000 after the release of the better-than-expected U.S. jobs report. The UK Construction PMI data (Actual: 56.3, Forecast: 54.3, Previous: 54.3) released last Friday indicated a faster pace of expansion in the construction sector during January. GBP/USD’s next support zone is at 1.33800 and the next resistance zone is at 1.36000. Look for short-term selling opportunities of GBP/USD.
Short
by JinDao_Tai
EUR/JPY Outlook (07 February 2022)Overall, EUR/JPY is trending downwards. Recently, EUR/JPY broke the resistance zone of 131.500. European Central Bank President Lagarde will be testifying before the European Parliament Economic and Monetary Affairs Committee later at 2345 (GMT+8). During this time, there may be volatility in EUR. Currently, EUR/JPY is testing to break above the key level of 132. Its next support zone is at 131.500 and the next resistance zone is at 134.000. Look for buying opportunities of EUR/JPY if it breaks above the key level of 132.
Long
by JinDao_Tai
AUD/USD Outlook (07 February 2022)Overall, AUD/USD is ranging across. Recently, AUD/USD broke the support zone of 0.71000 after the release of the strong U.S. jobs report. The Australian Retail Sales m/m data (Forecast: TBA, Previous: -4.4%) will be released later at 0830 (GMT+8). Currently, AUD/USD is moving towards the resistance zone of 0.71000. Its next support zone is at 0.68200 and the next resistance zone is at 0.71000. Look for selling opportunities of AUD/USD if it bounces off the resistance zone of 0.71000.
Short
by JinDao_Tai
USD/CAD Outlook (07 February 2022)Overall, USD/CAD is ranging across. Recently, USD/CAD broke above the key level of 1.27 after the release of the strong U.S. jobs report and the weak Canadian jobs report. The Canadian employment data released last Friday indicated a higher-than-expected loss in jobs during January due to stricter implementation of COVID measures amid the spread of the Omicron variant. Employment Change (Actual: -200.1K, Forecast: -121.5K, Previous: 54.7K) Unemployment Rate (Actual: 6.5%, Forecast: 6.3%, Previous: 5.9%) Also, the Canadian Ivey PMI data (Actual: 50.7, Forecast: 55.1, Previous: 45.0) released last Friday indicated a recovery in business activities into the expansionary level in January. 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
USD Overview (07 February 2022)Last Friday, USD strengthened against most major currencies except EUR. The U.S. employment report released last Friday indicated that more jobs were being added into the economy in January than expected despite the rise in COVID cases due to the Omicron variant. Average Hourly Earnings m/m (Actual: 0.7%, Forecast: 0.5%, Previous: 0.6%) Non-Farm Employment Change (Actual: 467K, Forecast: 145K, Previous: 199K) Unemployment Rate (Actual: 4.0%, Forecast: 3.9%, Previous: 3.9%)
TVC:DXY
by JinDao_Tai