RedstoneFx Analyst
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Redstone Morning Analysis 25/2/2021

GBP/USD

Trend Theme: GBP/USD recovers back to mid-1.4100s after choppy day.

Trend Review:Having found support above 1.4100, GBP/USD has moved back into the mid-1.4100s. Though having now been overtaken by AUD, NZD and NOK, GBP is still a strong performer this week. 

Today Advise:StronglyBullish

Key Levels:

PPResistance*1.4226 *1.4315 **1.4387 ***
1.4154Support*1.4065 *1.3994 **1.3905 ***

Position Datas:

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AUD/USD

Trend Theme:AUD/USD stays directed towards 0.8000 threshold after upbeat Aussie Q4 Private Capex.

Trend Review:AUD/USD takes rounds to 36-month high following welcome data at home. Australia’s Q4 Private Capital Expenditure grew past-market forecast and prior. Aussie bond yields stay strong near May 2019 top, S&P 500 Futures print mild gains.

Today Advise:StronglyBullish

Key Levels:

PPResistance*0.7358 *0.7374 **0.7400 ***
0.7332Support*0.7316 *0.7290 **0.7274 ***

Position Datas:

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WTI-OIL

Trend Theme:WTI hits fresh cycle highs in the mid-$63.00s.

Trend Review:Front-month futures contracts for the American benchmark for sweet light crude oil, West Texas Intermediary (or WTI), rallied into the close of US equity market trade to hit fresh cycle highs of just shy of the $63.50 mark. Futures trade paused at 22:00GMT, as it does every evening, ending the session $2.26 or around 3.6% higher and will reopen at 23:00GMT.

Today Advise:Bullish

Key Levels:

PPResistance*64.03 *64.87 **66.42 ***
62.48Support*61.64 *60.09 **59.25 ***

Position Datas:

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XAUUSD

Trend Theme:Gold: struggles to keep $1,800 even as S&P 500 Futures stay positive.

Trend Review:Gold fades recovery moves from $1,783, barely positive after two consecutive declines. Risks cheer Fed policymakers’ rejection of reflation fears, vaccine news. Light calendar in Asia warrants traders to follow US Treasury yields for fresh impulse.

Today Advise:Bullish

Key Levels:

PPResistance*1816.46 *1830.30 **1846.72 ***
1800.04Support*1786.20 *1769.78 **1755.94 ***

Position Datas:

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