1. Forex Market Insight
EUR/USD
Russia suspended gas supplies to Bulgaria and Poland on Wednesday, 27th April 2022, after the two countries rejected demands for settlement in rubles. The move points fingers at European economies, which also exposes the chaos in how the EU is responding to the Russo-Ukrainian war.
The euro fell to $1.0515, the weakest since March 2017, before rising back to $1.0561.
The euro has fallen 4.6% so far in April and is heading for its worst monthly loss in more than seven years.
Technical Analysis：
(EUR/USD 1-hour chart)
We focus on the 1.0529-line today. If the euro runs steadily below the 1.0529-line, then pay attention to the support strength of the position of 1.0357. If the strength of the euro breaks above the 1.0529-line, then pay attention to the suppression strength of the two positions of 1.0662 and 1.0776.
GBP Intraday Trend Analysis
Fundamental Analysis：
The British retail sales fell, the pound dropped to $1.2502 against the dollar for the first time in 21 months. It was down 0.24% at $1.2542 at-the-close order in New York.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound is mainly focused on the 1.2478-line today. If the pound runs below the 1.2478-line, it will pay attention to the suppression strength of the two positions of 1.2301 and 1.2243. If the pound runs above the 1.2478-line, then pay attention to the support strength of the two positions of 1.2668 and 1.2807.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Spot gold fell more than 1% yesterday, 27th April 2022, marking its lowest record since 24th February 2022, to $1,881.20 per ounce. The dollar rose as the market expected that the Federal Reserve will sharply tighten monetary policy.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold pays attention to the 1880-line today. If the gold price runs steadily below the 1880-line, then it will pay attention to the support strength of the 1869 and 1855 positions. If the gold price breaks above the 1880-line, then pay attention to the suppression strength of the two positions of the 1895-line and 1909-line.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
U.S. oil rose slightly to close at $102.09 per barrel. As market continued to worry about tight global supplies, a situation underscored by another reduction in the U.S. refined oil and gasoline inventories.
Oil prices rebounded in late trading after falling for much of the session, partly due to a stronger dollar and some regions dealing with new outbreaks that weakened demand.
But Russia’s move to cut off gas supplies to two European countries has fueled overall concerns about tight energy supplies.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
Oil prices focus on the 99.50-line today. If the oil price runs above the 99.50-line, then focus on the suppression strength of the 102.52 and 107.52 positions. If the oil price runs below the 99.50-line, then pay attention to the support strength of the 97.33 and 95.05 positions.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
