Forex Forecast: Pairs in Focus

Get Forex Forecast using February 14, 2021 for the Couples Basic, Emotional and Technical Position Analysis.

The difference between success and failure in a forex trade largely depends on the currency pairs you choose to trade on each week and in what direction, and not on the exact trading strategies you can use to determine trading inputs and outputs.

At the beginning of the trading week, it is a good idea to look at the big picture of what is happening in the market as a whole and how such developments are affecting the macro foundation and market sentiment.

The Fox / CFD market is currently showing some strong trends, so this is a good time to trade for Fox.

Large image 13We February 2022

In the USA, there was a slight increase in anxiety during the week. Several major global stock market indexes ending this week. The Forex market has seen the US dollar move slightly, but many energy and soft products (WTI crude oil, gasoline, soybeans and corn) have reached new heights.. The euro is the biggest loser of the week in the Forex market and the Australian dollar is the strongest of all major currencies.

Last week, the forex market was dominated. US inflation has reached 7.5% year-on-year, the highest level since 1982, exceeding 7.3 percent.

Last week was the third consecutive week of declining global coronavirus cases.

I wrote in an article last week that they could be the best deals of the week. Long WTI crude oil and soy. This was a good and profitable call for Teucrium Soybeans ETF as WTI crude oil rose 1.5% in a week. It increased by 2.1 percent during the week. This gave an average gain of 1.8% for the week.

Basic analysis and market sentiment

Last week’s article was about rising US inflation and the prospect of war in Ukraine. Many countries are urging their citizens to leave Ukraine, and many analysts believe war could break out soon. This poses some risk factors and may increase the cost of goods, especially energy. Commodities will perform well in areas of high inflation, such as ours.

Next week may see a higher or perhaps similar level of variability compared to last week.With Markets are dominated by strong commodities, especially in energy and agriculture, with high inflation and negative interest rates. There are a lot of economic data that will be released this week as needed:

  1. Minutes of the FOMC meeting
  2. British CPI (Inflation)
  3. Minutes of the Australian Reserve Bank meeting
  4. Canadian CPI (Inflation)
  5. U.S. Retail Sales
  6. American PIPI
  7. Australian unemployment

Last week, internationally confirmed new coronavirus cases fell again. An estimated 61.7% of the world’s population now has at least one vaccine.

Newly confirmed Corona virus cases in general are currently the strongest growth in Afghanistan, Azerbaijan, Belarus, Brunei, Chile, Denmark, Egypt, Georgia, Germany, Guatemala, Iceland, Indonesia, Japan, Jordan, South Korea, Latvia, Malaysia, the Netherlands, Russia, Singapore, Slovakia, Thailand and Ukraine.

Technical analysis

US Dollar Index

Below shows the weekly price chart The US Dollar Index last week issued a small bullish pin bar, and prices continued to rise between support levels 12086 and 12293.. The price is clearly rising but there is still a long-term bullish trend in power, the price is higher than it was 3 and 6 months ago.

If the support level of 12086 remains high, the long-term bullish trend may resume.

Overall, it seems clear that we still have a bullish picture in the USD On long and medium termsBut in the Forex market The green background may not be the price driver right now.. It may be a better time to trade currencies than dollars.

WTI crude oil

For the fifth week run, WTI Crude Oil closed its biggest weekly rally in seven years last week and published a relatively large candle that looks healthy, very close to the price range. This may indicate that prices are rising due to fears of war between Russia and Ukraine. There are signs of cruelty, and I will continue to see WTI crude oil as a fun purchase.

WTI crude oil weekly chart

Soybeans

In recent weeks, the price of many agricultural “soft” products has been rising sharplyWhat we are seeing in many countries with high inflation and negative interest rates.

Last week’s inflation ended with the highest weekly closing in seven years..

It is important to look for long-term commodities during this time of high inflation.Although they recognize that the volatility of soft goods can be very high, it is important to trade in a relatively small amount of space.

If this ETF closes at more than $ 26.87 a day this week, I would like to see soybeans as an exciting purchase.

Teucrium Soybean ETF Weekly Chart

With corn

With soybeans, corn prices rose last week, but more strongly. Last week’s strong inflation saw the highest weekly closing in five yearsAnd the price ended just a week away from the weekly price range.

I consider corn to be an attractive commodity, as products such as corn are relatively stable in today’s high inflation.

Teucrium Corn ETF Weekly Chart

at last

I expect the best opportunities in the financial markets this week to increase WTI crude oil, corn, and soy by more than $ 26.87 billion.

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