Market Analysis Review

Daily Market Report: Expert Technical & Fundamental Insights – 11.02.2025

| 11 February, 2025 at 12:00 GMT

EURUSD

EURUSD was little changed today, trading at $1.0304 & falling by almost -0.70% in a week as USD index gained by 0.37% on weekly basis. Sentiments were mixed as EU leaders are still trying to figure out how will Trump deal with tariffs on EU exports to the US, uncertainty prevailed in the last two weeks, not to forget that EZ macros were not promising as well. 

1H  trend index remained  bearish, and volatility index was shrinking as well. How about the traders’ forecast? 20% of them were bearish, 80% were neutral and no bullish bets for now.

USDJPY

USDJPY was little changed today , remained steady around 152. BoJ board member Tamura said that the central bank must increase the rate to 1% in 2025. In the meantime, household wages in Japan increased stronger than the estimates which may result in higher inflation.  

1H RSI is sideways with bearish trend index . Sentiments remained mixed between 25% bullish & 25% bearish, but the majority of the traders preferred to wait. 152.65 is resistance and 151.15 is support. 

GBPUSD

GBPUSD traded almost unchanged today at $1.2361, waiting for BoE’s governor Baily speech later today. As USD index maintained its strength, GBP was under pressure from both the strength of USD & reducing  the rates by BoE. GBPUSD fell by -1% in a week. 

Traders’ sentiments remained bearish, reflected by bearish trend index in 1H. $1.2250 is important support, $1.2415 will be the next major target. 

Gold

Gold didn’t  fail its  market bulls & traded at all time high $2930 per ounce this morning, rose by 11.3% YTD, what a performance ! All scenarios support the bullish trend & still applicable that include reducing the rates by the Fed with more dovish stance by BoE & ECB, higher inflation ahead , new tariffs by Trump’ admin ( risks) & central banks’ continuous purchase.  PBoC increased its gold reserves for the third consecutive month in January.  

Technically speaking, it is almost overbought, and correction to $2900 is highly probable & expected. $2933 is a new resistance. Such a performance does not relay match  the forecast polls that showed bearish attitude by 33% of the traders in a week.

Silver

Silver slightly fell today & traded at $32 per ounce. Traders in silver market were somehow anxious by Trump’s intentions to add tariffs on steel & aluminum imports by 25%, the more the disruption, the higher the risks of supply shortage. 

Hourly trend remained sideways, with bearish trend index. $31.70 is support, $32.45 is resistance. FYI, silver advanced & gained by 10.7% YTD, while steel dropped by -1.5% YTD.

Oil – WTI

Crude oil prices traded higher today , WTI $72.65PB, Brent $76.25PB, after it gained nearly 2% on Monday. According to many reports, Russian oil production fell further below its OPEC+ quota in January, while  the US sanctioned the individuals & tankers transporting Iranian oil to China. Geopolitical tensions in the ME increased again as Trump urged Israel to end its ceasefire with Hamas if hostages are not returned this weekend. API will release the weekly crude oil inventories later today; it increased by 5 million barrels two weeks before. 

Price action kept heading higher, targeting $73. 1H RSI is almost at overbought, but the price action remained bullish. 50% of the traders remained bearish & 25% were bullish.

DAX

DAX index futures were almost flat today, after closing higher by 0.7% on Monday at 21933, new record high. Among the best performance were Siemens 1.78%, Adidas 1.5%, Puma 2.9% and Porsche 1.8%. Inflation from Germany will be due on Thursday. Keep an eye on the US equities & political developments from America. 

1H RSI is almost overbought, but the bullish momentum has been maintained. 21750 is support then 21400.

Nasdaq

US stock futures traded weaker today after positive closing on Monday, Dow Jones 0.38%, SPX 0.67% & Nasdaq 0.98%. Fed’s Chair Powell will testify before the US Congress today, discussing the monetary policy & economic outlook. Yesterday, Nvidia gained by 3%, followed by 5.4% in Uber, 4.6% McDonalds, Oracle 2.4% & Dell 5.5%. Trump’s comments & tariffs were & still the most effective factor the traders are closely watching. 

Technical diagram shows the possibility of falling to 21590 then 21470. Momentum indicator was negative & 1H RSI is neutral. 21800 will be the next  target for market’s bulls.

BTCUSD

Major cryptocurrencies gained today, BTC $98300, Eth advanced by 2% to $2715, Cardano $0.7977, & XRP rose by 3.5% to $2.5088. According to CoinDesk, Grayscale Investments  files for a spot Cardano’s ADA listing in the U.S, that’s why ADA ( Cardano) outperformed BTC &ETH in the last week. More crypto listed ETF’s will strengthen the global expansion and adoption, that’s going to be bullish factor as well. 

On a monthly basis, traders’ forecasts were 75%  with bullish bias and only 25% bearish.