Decode daily financial analysis

Foreign exchange market

The dollar index was little changed at 103.86.

Eur/USD rose 21 points to 1.0695. Data from Germany showed that producer price growth slowed to 17.8% year-on-year in January (18.0% expected vs. 21.6% in December).

Usd/JPY climbed 22 points to 134.16.

GBP/USD rose 50 points to 1.2040. UK retail sales rose 0.5% month-on-month in January (-0.8% expected).

Audusd edged up 2 dots to 0.6881.

Usd/CHF fell 10 points to 0.9246, while USD/CAD climbed 13 points to 1.3471.

Over the weekend, Bitcoin surpassed the key level of $25,000 before falling back to $24,500.

1. GBP/USD intra-day: Move towards 1.2100.

Turning point:

1.1970

Trading Strategy:

Above 1.1970, bullish, with a target of 1.2070 and then 1.2100.

Alternative strategies:

Below 1.1970, bearish, the target is set at 1.1940 and then 1.1910.

Technical Review:

The RSI technical indicator is bullish and has room to rise further.

2. Eur/USD during the day: Further gains.

Turning point:

1.0650

Trading Strategy:

Above 1.0650, bullish, with a target of 1.0705 and then 1.0730.

Alternative strategies:

Below 1.0650, bearish, the target is set at 1.0630 and then 1.0610.

Technical Review:

RSI technical indicators, bullish.