Market Analysis Review

Daily Market Report: Expert Technical & Fundamental Insights – 20.02.2025

| 20 February, 2025 at 12:00 GMT

EURUSD

EURUSD was little changed, trading at $1.0431 amid low volatility  and after three consecutive days of losses. The talks between the US & Russia took place in Saudi Arabia two days earlier, it was about ending the war in Ukraine , if that happens then EUR may gain further, however ECB is likely to keep reducing the rates in the coming weeks & months. Consumer confidence in EZ will be due later today. 

Traders’ sentiments have not shown improvement & remained mostly bearish. $1.0404 is support, and $1.0456 will be the next target (which is slowly approaching ) .

USDJPY

USDJPY fell & Yen strengthened to 150.07, the lowest level for USD since last December. As long as uncertainty persists, the demand for safe-haven currencies including the Yen will gain momentum. Japan’s national CPI for the month of January will be released later today, the higher the inflation, the stronger the Yen is likely to remain. 

On the way to the last major support. 1H RSI is approaching from an oversold level, but price action still supports further losses. Sentiments remained bearish.

GBPUSD

GBPUSD was little changed today, trading at $1.2595 after UK inflation accelerated to 3% in January 2025, the highest in ten months & higher than the estimates of 2.8% as well, but what does that exactly mean to the markets? It simply means that BoE will not be in rush to cut the rates, and the problem is that high sticky inflation , with weaker growth & elevated interest rates are likely to result in typical stagflation, that’s not what the Uk government aims for. 

1H trend index remained bearish with low volatility. One month’s forecasts show that the traders remained mostly bearish without bullish bets, however it may not reflect the dynamics of currency markets.

Gold

What a performance ! Gold gained 13% YTD and kept advancing to new record-highs at $2948 per ounce, all -time  high with four consecutive days of gains. The best scenario for gold is still happening now that has high inflation globally,  US tariffs & its consequences, and more rate cuts  ahead by the major central banks. USD weakness by more than -1.3% YTD supported gold as well. 

Sentiments remained strongly bullish by 75% of the traders, and only 25% were bearish, which we think may show the expectation for technical correction. $2920 & $2896 are support levels & targets for correction ( if happens).

Silver

Not exactly matching the performance of gold in the last four days but silver rose today to $32.90 per ounce, the highest since October 30/2024. BTW, the solar industry and electrification process are still playing major role in demand for silver. 

Technically speaking, trend index remained bullish , supported by strong price action. $33.25 will be the nest target. $32.40 is support.

Oil – WTI

Crude oil prices were little changed today, WTI $72.15PB, $76.15PB. According to API, US weekly crude oil inventories increased by 3.3 million barrels , exceeding expectations of 2.2 million barrels, EIA will release the weekly crude oil inventories later today. Kurdistan’s oil exports may resume this week, more supply will keep oil prices under pressure. 

Traders’ sentiments remained mixed between 40% bearish,  20% bullish & 40% sideways. Price action shows recovery, targeting $72.85 . $71.70 & $71.02 are support levels.

DAX

DAX index futures traded higher today after it fell to 22435 on Wednesday. One of ECB board members tempered expectations for more expansionary monetary policy. Siemens lost -2.5%, followed by -2.7% in Allianz and heavy losses in Auto stocks as well, Daimler -3.3%, Mercedes -1.6% and BMW -2.2%. Economic sentiments in Germany improved in February to 26 from 10.3 in January. Germany’s PPI will be due later today.  

After being in oversold area, price action improved & increased with bullish trend index, targeting 22650. 22300 is support.

Nasdaq

US stock futures traded lower today after positive closing on Wednesday, Dow Jones 0.16%, SPX 0.24% at new record high & Nasdaq 0.07%. FOMC minutes showed that the are closely watching further progress in inflation before considering additional interest rate cuts. US market & traders remained busy by Trump’s tariffs and domestic political developments. US weekly initial jobless claims will be due later today.  

1H trend index remained bearish & volatility index is shrinking. 21970 is support. 22200 will be the next target ( resistance). 1H RSI remained neutral. 

BTCUSD

Bitcoin increased slightly today & traded at $96900, Eth gained 0.55% , Cardano 1.25% and XRP fell by -2% to $2.6868. Brazil approved World’s first spot XRP ETF , taking the lead ahead of the US according to Coinpedia.org. According to Bitcoin.com, centralized crypto exchanges say $18.8 trillion in trading volume last year, the second highest in five years, 2021 was the highest with $25.1 trillion. Binance remained the largest by 39% of the total volume, and crypto.com was the largest growing exchange in 2024. 

According to trader’s forecast, 75% of the traders were bearish in one week’s forecasts poll. Trend index in 1H improved to bullish, supported by price action that increased, targeting again $98500.