Best trading opportunities for currencies, metals, commodities and cryptocurrencies by Arincen network February 23

The dollar dipped on Monday as traders focused on whether coronavirus vaccinations, economic growth expectations and higher inflation could push bond yields higher. The U.S. dollar index was last down 0.07% late trading in New York, ticking up from earlier lows. The dollar has been trending down since early February following a January bounce from a 7% decline in 2020.Weakness in U.S. employment keeps undermining dollar rallies as the markets see wavering jobs data reinforcing the Federal Reserves commitment to keep interest rates low.

EUR USD

	S1	S2	R1	R2	TREND	Waiting For
EUR USD	1.2108	1.2045	1.2197	1.2226	mix	buy

 

The pair continues to rise above 50% Fibonacci with positivity on the RSI and momentum index to become its next targets around 61.8% Fibonacci 1.2197, in case trading remains above the 50-day moving average and rising above 61.8% Fibonacci, the next targets will be at the top of 1.235.

Below 50% Fibonacci will push the pair towards the support levels of 38.2% Fibonacci

The expected range of movement for today is 54 pips

 

EUR JPY

	S1	S2	R1	R2	TREND	Waiting For
EUR JPY	126.828	126.329	128.432		up	buy

 

The pair continues to trade above the 50-day moving average with some corrective declines, but it seems able to reach the peak of 128.40 provided that trades remain above the 50-day moving average. Currently levels of 23.6% Fibonacci 126.82 continue to provide the necessary support for the pair to maintain chances of its return to the top 128.36

Below 126.82 cancels the scenario of temporarily resuming the rise

The expected range of movement for today is 50 pips

 

USD JPY

	S1	S2	R1	R2	TREND	Waiting For
USD JPY	104.83	104.401	105.386	106.21	up	buy

 

The pair fell sharply from a high of 106.2 and is currently trading around 104.9, the pair's drop below the 50-day moving average, with the clear negativity of the RSI, which makes us expect further decline towards 50% Fibonacci levels 104.40. This expectation will be confirmed if the pair falls below the support level of 38.2% Fibonacci. 104.83

If the pair manages to hold above 38.2% Fibonacci retracement, we might test a quick return to trade towards 106.2

The expected range of movement for today is 39 pips

 

Gold

 

	S1	S2	R1	R2	TREND	Waiting For
XAU USD	1756		1834	1880	UP	buy

 

As we expected, the levels of 1756 were able to give gold a strong support area that encouraged buyers to buy, which pushed gold to rise towards 23.6% Fibonacci 1834, if gold was able to rise above 1834, then the return of the uptrend will be confirmed to become gold targets in the medium term at 38.2% Fibonacci 1880, then 50% Fibonacci 1917 Then, if this scenario materializes, we may test a comeback once again targeting $ 2000 levels

Below 1760 cancels the ascending scenario

The expected range of movement for today is 228 pips

 

Bitcoin

	S1	S2	R1	R2	TREND	Waiting For
BITCOIN	44897	40969	57585		mix	buy

 

Bitcoin lost a lot during yesterday's trading, down from a peak of almost 58000, so far Bitcoin is still trading above the 50-day moving average, but with clear negativity on the RSI, so Bitcoin may continue to decline towards the support level 23.6% Fibonacci 44897, which we expect to give Bitcoin some Support where we can experience a strong buying wave around this level, but any drop below that level may cause a state of panic among buyers, pushing them to sell, which may put pressure on Bitcoin prices and push them further down towards 38.2% Fibonacci 37041, which is a suitable level for buying

If Bitcoin managed to consolidate above 23.6% Fibonacci, it will rise again, towards the top of 58000.

The expected range of movement for today is 319731 points