Technical Analysis Post

Daily Market Report: Expert Technical & Fundamental Insights – 14.02.2025

| 14 February, 2025 at 12:00 GMT

EURUSD

EURUSD was little changed today, trading at $1.0456, on its way to the second consecutive weekly gains. There were no strong  fundamentals from EZ, while the dynamics of FX market have not always been following the economic numbers. Employment change & GDP for Q4/2024 from EZ will be released later today with the growth forecasts from European Commission. 

Price action is still showing bullish bets, heading higher to $1.0490. The forecasts remained somehow bearish among 20% of the traders.

USDJPY

USDJPY traded slightly lower today at 152.51, after it fell by almost 1% on Thursday. Japan’s economy minister said today that Japan would respond appropriately to any US reciprocal tariffs. Traders still think that BoJ will remain hawkish rather than dovish unless the inflation starts cooling down or economy weakens.  

1H RSI is approaching from support level, but the price action has not yet gained momentum to go higher. 151.90 will be the next target ( support). Sentiments were mixed , 25% bearish & 25% for bullish bias.

GBPUSD

UK economy unexpectedly grew by 1.4% in Q4/2024, higher than the estimates, that was a bullish sign for GBP traders . GBPUSD was little changed today at $1.2558, the highest in almost two months. This currency pair was able to recover, it gained by 2.5% in a month after hitting $1.21 one month before. 

Technically speaking, price action remained bullish, heading higher to $1.2585 even if the trend index in 1H remains bearish for now, and bullish in 15 minutes chart.

Gold

Gold continued its bullish performance, heading toward seven consecutive weekly gains. Gold rose 2.6% in a week, & traded slightly higher today at $2934 per ounce , still at a record-high. Both PPI & CPI from the US came stronger than before in January which means that inflation remained sticky. At the same time, USD index lost -1% in a week, supporting further bets on gold. 

Momentum & 1H trend indexes remained positive & bullish, heading higher to another new record. 1H RSI is approaching from overbought level, however traders’ behavior supported further bullish attitude. 

Silver

The comparison between the performance of gold & silver will show to us that silver gained 3.6% in a week & 14% YTD, exceeding gold’s that gained 11.7% YTD. Today silver rose & traded higher by 2% at $32.98 per ounce, the highest in more than three months. It was a mix of higher inflation in America & delay of Trump’s reciprocal tariffs for now. 

Even if 1H RSI became overbought today, price action never stopped from heading higher to new target, supported by bullish trend index in 1H with high volatility.

Oil – WTI

Crude oil prices slightly advanced today, WTI $71.56PB, Brent $75.40PB. The talks between Trump & the Russian President Putin reduced the markets’ risks of oil disruptions, however the US sanctions on Russian oil remained intact. JPMorgan reported that global oil demand surged to 103.4 million barrels a day in February, 1.4 million barrels a day increase YoY. Keep an eye on the US retail sales later today. 

Price action recovered, heading higher to $72.40 then $73.35. $70.25 is an important support. Among the traders, 50% of them were bearish, 25% remained bullish in one wee forecast.

DAX

DAX futures traded weaker today but remained at record high. Yesterday, DAX index closed higher again at a new record-high at 22611. Again, geopolitics were the major catalyst in EZ equities gains where the markets started expecting near end of the ongoing war in Europe between Russia & Ukraine. As President Trump delayed the tariffs for now, German automakers stocks gained strongly yesterday, Mercedes 5.4%, BMW 6%, VW 6.4%, Porsche 4.5% & Daimler 3.3%. Inflation in Germany remained unchanged in January, 2.8% YoY, -0.2% MoM which means contraction. 

Totally overbought ( 1H RSI remained above 70, at 86 today). Trend index remained bullish, but the volatility started shrinking.

Nasdaq

US stock futures traded slightly higher today after good closing on Thursday, Dow Jones 0.7%, SPX 1% & Nasdaq 1.04%. Trump’s decision to delay the reciprocal tariffs for now was exactly what the traders waited for. US initial jobless claims came better than the estimates, and PPI increased by 3.5% in January, higher than December of 3.3%. We keep an eye on the US retail sales, industrial production & capacity utilization that will be due later today, so as not to forget the political developments & updates form Trump’s office.  

1H trend index remained bullish and 1H RSI is approaching from overbought level; however, price action is heading higher to 22100 with positive momentum. 21680 is support.

BTCUSD

Bitcoin traded slightly higher today at $97060, Eth $2701. Cardano fell by -1.6% to $0.7990, and XRP rose to $2.5702. Mixed sentiments prevailed as crypto market is still looking for new catalysts. According to Blockchain news, spot Bitcoin ETF experienced a significant outflow of $156.8 million yesterday, giving somehow bearish mode to the market. At the same time, Michigan has become the latest state to propose a strategic BTC reserve bill which will allow the state’s treasurer to invest in crypto. 

1H trend index remained bearish with sideways bias. Price action remained mixed, $98K will be the next target.