Series on the Russia-Ukraine Crisis:

Russia and Ukraine on Thursday agreed on the need for humanitarian corridors to help civilians escape Moscow's eight-day invasion, the first clear progress in the talks, as the United States  in addition to Western sanctions on more oligarchs.

 Thousands of people are believed to have died or been injured in the biggest attack on a European country since the outbreak of World War Two, creating 1 million refugees, affecting the Russian economy and worrying  concerns about broader conflict in the West for decades.

 Russian forces continue to besiege and attack Ukrainian cities, including Mariupol, the main eastern port that is under heavy shelling, without electricity or water.  Officials said they were unable to evacuate the injured.

 After talks at an undisclosed location, Russia said "significant progress" had been made, but not the outcome Kyiv had hoped for.

 The two sides agreed to conduct a third round of negotiations.

Prediction on Gold on 03/03/2022:

- In yesterday's session, precious metal Gold fell from 1947 to 1914 ($33), closing the day session with a bearish candle around 1927. The drop was not too strong and recovered in  end of trading day.  In my personal opinion, the increasing force of Gold is still dominant, so in today's session, the option will be to buy.

 - On the H4 time frame, the nearest support area for this precious metal is around 1914-1919.  Here we can establish a long position with a safe target around 1935-1940.  Then there is a signal I will update later.

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 European Commission President Says Financial Sanctions Target 70% of Russian Banks!

 Von Der Leyen said the steps agreed by EU leaders include financial sanctions, targeting 70% of Russian banks and key state-owned companies, including in the defense sector.

 - Sanctions against Russia will increase Russia's borrowing costs and increase inflation

📕 Comment on Gold on February 23, 2022:

 

- In yesterday's session, precious metal Gold, after bouncing up to 1913, fell to 1891, then fluctuated in two directions in 1894-1905, closing the day session with a bearish candle around 1898. Although it closed with a bearish candle, the decline in Gold was not strong and the criticized between the US and Russia related to the Ukraine crisis boosted safe-haven demand for the precious metal. So in my personal opinion Gold will still be supported uptrend in today's session. - Currently around 1893-1898 is the closest support area for this precious metal, where investors can establish a buy position with a safe target around 1912 and expect it to be around 1912. 192x in today's trading session.

Prediction on Gold on 22/02/2022:

- In yesterday's trading session Gold only fell slightly to 1887 then bounced back to around 1905, closing the day session with a bullish candle around 1903. With the Russia-Ukraine crisis escalating. The high again makes the prospect of reconciliation between the parties dim at the moment, so in my opinion, Gold will continue to be pushed up in today's session.

- Switching to a smaller time frame of H4 we can see that Gold is unlikely to have a big correction and the 1905-1902 price zone is the closest support area to push this precious metal up with a safe target. will be 1916-1921, expect to be 193x in today's trading session.

📕 Comment on Gold on February 21, 2022:

- In the last trading week, precious metal Gold had a good week of growth from 1844 to 1902, closing the week session with a bullish candle around 1898, this is the highest price range that Gold reached. within the past 7 months. With Gold showing such good upward force, in my opinion in the coming time this precious metal will continue to conquer the next peaks.

 - Early this morning Gold bounced slightly to the 1908 price zone, this is the resistance zone of precious metal Gold and the possibility of a slight downward correction, so we can establish a sell position with this metal with The safe target is around 1885. Here we will wait for the price reaction to see whether to buy or not, then I will have an update.

Comment on Gold on February 18, 2022:

 - In yesterday's trading session, precious metal Gold rebounded strongly from 1867 to 1901, closing the day session with a strong bullish candle that broke the previous resistance area of 1878.  With this overwhelming bullish force, in my opinion, precious metal Gold will continue to gain momentum in today's session.

 - Moving to the H4 time frame Gold is currently having a slight downward correction and I expect Gold to fall around 1880-1885, this is the closest support price to the precious metal Gold that we can establish.  establish a buy position with a safe target around 1902 and expect 1910-1915.

📕 Prediction on Gold on February 17, 2022:

- In yesterday's trading session, precious metal Gold went right in its analysis when it bounced up from 1850 to 1872, closing yesterday's session with a bullish candle around 1869. With Gold in today's trading session. Yesterday, it regained its upward momentum after having 1 previous decline, in my opinion, it is likely that in today's session, Gold will still be supported by this increase.

 - Switching to the H4 time frame, we can see that the increase of the last 3 candles is relatively good and if in the beginning of today's session, Gold has a slight correction around 1862, this is an opportunity. so that ace can establish a buy position with a safe target in the "old top" zone 1872-1878.

📕 Comment on Gold on February 16, 2022:

 - After touching the right analytical price zone of 1878 precious metals Gold dropped quite strongly to 1844, closing the day session with a bearish candle around 1853. This is also the closest support area for metals. gold and in my personal opinion the possibility of Gold recovering slightly in the early hours of this morning.

 - Looking at the H4 chart frame, we can see that Gold is currently leveling off at MA20 and in my opinion Gold can recover to 1858-1861 we can establish a buy position with this precious metal with the aim spend as above. After coming here, the possibility that Gold will experience downward pressure, I will update later.

📕Analysis on Gold on February 15, 2022:

- In yesterday's trading session, it was quite unfortunate that Gold had not touched the limit price range, the price only dropped to 1850 then bounced up to 1874 and closed the day session with a bullish candle around 1871. Gold's rebounding force This is something we can all see, but currently Gold is facing a resistance zone around 1876-1878. In my personal opinion, we will wait for Gold to correct so that we can establish a buy position in today's session. - The nearest support area for this precious metal is around 1858-1861. We can wait until Gold corrects to be able to establish a buy position with the target to break "old 1878 high.

INFLANATION RISK AT THE MARKET

 RUSSELS (Reuters) - Euro zone economic growth will be slower than earlier expected this year because of a new wave of COVID-19 infections, high energy prices and continued supply-side disruptions, while inflation will be much higher, the European Commission said.

In its regular economic forecasts, the EU executive arm said gross domestic product in the 19 countries sharing the euro would grow 4.0% this year and 2.7% in 2023.

The forecast is a cut compared to last November, when the Commission forecast 4.3% growth in 2022 and 2.4% in 2023 and is close to the latest view of the International Monetary Fund, which expects growth of 3.9% this year and 2.5% in 2023.

"Multiple headwinds have chilled Europe's economy this winter: the swift spread of Omicron, a further rise in inflation driven by soaring energy prices and persistent supply-chain disruptions," European Economic Commissioner Paolo Gentiloni said. "With these headwinds expected to fade progressively, we project growth to pick up speed again already this spring."

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The Commission expects inflation this year will be 3.5%, well above the European Central Bank's target of 2.0%, and much higher than its own forecast from November of 2.2%. This is also a more pessimistic forecast than that of the ECB from December, when the bank projected inflation at 3.2% this year.

Worried by the longer than earlier expected surge in consumer prices, the ECB has taken a hawkish turn and started preparing markets for the end of its unconventional stimulus with some hawkish board members calling for a rate hike already this year.

But the Commission, like the IMF, forecast inflation would slow again next year to 1.7%, below the ECB's target, so a potential rate rise would come just as price growth slows again. The ECB's own inflation in December was 1.8% for 2023.

"Price pressures are likely to remain strong until the summer, after which inflation is projected to decline as growth in energy prices moderates and supply bottlenecks ease. However, uncertainty and risks remain high," Gentiloni said.

The Commission said risks to the growth outlook were even as the COVID-19 infection wave could have a longer lasting impact and bring fresh disruptions to supply chains, but also household consumption could grow more strongly and investment, thanks to the EU recovery fund, could generate stronger activity.

Inflation could turn out higher if more cost pressures are passed on from producers to consumers and if that boosts the likelihood of wage growth to compensate.

"Risks to the growth and inflation outlook are aggravated by geopolitical tensions in Eastern Europe," the Commission said referring to the risk of Russian military aggression against Ukraine.

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UNBREAKABLE RECORD BY EUR/GBP

 

EURGBP races to topside resistance

The BOE raised rates by 25 basis points with dissenters in the 5-4 vote leaning to 50 bp rise. That initially sent the EURGBP to the downside.

However, after Lagarde started to switch course for the ECB, it was "fast break the other way" for the EURGBP with the price racing toward the high from last week.

The high has extended to 0.8416. The high last week reached 0.8422.

The highs today have now entered into a topside swing area between 0.84148 and 0.8424 (see red numbered circles). Along the way, the pair cracked above the 100/200 hour MAs and swing areas around 0.8370 and 0.8403.

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Earlier today, after the BOE announcement, the pair broke to the downside and through a key swing area between 0.8305 to 0.8312. The low reached 0.82827 and failed.

So in the course of the day (and really over the last 8 or so hours, the price has traded the range since December 28th - with a failed break lower added on at the lows.

The question now is "Can the upper extreme be broken and stay broken?"

If low the 50% midpoint at 0.8440 followed by the falling 100 day MA at 0.84567 are the next key targets to get to and through.

Break through the 100 day MA and there should be more follow through buying in the pair with the 200 day MA up at 0.85129 as another key target to the upside.

🌏DAILY NEWS HIGHLIGHTS! 🌏 On 31 January 2022-

📌 Streaming video no longer impresses investors, so media companies need a next act. It may be time for streaming services to introduce more out-of-the box ways to grow subscribers. Netflix’s dramatic share plunge in January may put more pressure on legacy media companies to show growth.

📌 Blackstone Tees Up $11 Billion in Fresh Capital for Asia Deals. Blackstone is doubling down in Asia despite increasing risks from inflation and geopolitical tension.

📌 China Picks Cities, Entities to Take Part in Blockchain Trials. The program is aimed at “sufficiently letting the blockchain technology play its role in facilitating data sharing, optimizing business procedures, lowering costs, improving synergy and building reliable systems.”

📌 Stock Market Jitters Don’t Endanger Economy Yet. Recent market turmoil doesn’t mean the economy is about to be derailed, but rather the recovery is maturing and no longer needs low interest rates, economists and Fed officials.

📌 Drugmakers Raised Prices by 6.6% on Average Early This Year. Drug companies’ prescription-drug price increases were mostly in the single digits as Congress explores measures to curb high costs.

Market Manufacturing PMI, Germany on 24 January 2022

WHAT IT INFLUENCES: EUR and its subsequent pairs

WHAT'S HAPPENING: The Manufacturing Purchasing Managers Index (PMI) released by Markit economics, captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of the total GDP, the manufacturing PMI is an important indicator of business conditions and Germany's overall economic condition. Typically, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.