![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2021\/February%202021\/15-February-2021\/usd-index-15-02-2021.png\")
<\/p>\nThe USD continued to be soft against a number of its counterparts as it remained near two-week low levels against a number of its counterparts. The story for the US economy outperforming market expectations with a quicker than expected rebound, seems to be losing steam and the markets allow for the greenback to weaken again. Analysts tend to note that the US financial data will have to back up the market\u2019s expectations for a quick recovery, hence we may see this week\u2019s financial releases gaining on importance, as the markets scrutinize data in order to verify the recovery of the US economy. At the same time, it should be noted that the US vaccination program is still ongoing and continues to raise hopes for such a return to normality. Should worries for the rebound of the US economy intensify we may see the USD losing ground.
\nThe USD index dropped on Friday after unsuccessfully trying to break the 90.55 (R1) resistance line. We tend to maintain a bearish outlook for the Index, given that the drop seems to be ongoing despite some hesitation in the American session. Also, it should be noted that the RSI below our 4-hour chart is below the reading of 50, with a downward slope, supporting such a bearish view currently. If the bears actually maintain control, we may see it aiming if not breaking the 89.92 (S1) support line, which reversed the Dollar\u2019s drop on the 13th of January. If the bulls take charge, the index could break the 90.55 (R1) line and aim for the 91.07 (R2) hurdle.<\/p>\n
Oil prices tended to be on the rise during today\u2019s Asian session, after renewed buying interest was displayed by the markets. Tensions in the Middle East also increased worries for the supply side of oil boosting the bullish sentiment for the commodity. Particularly it was reported that a drone packed with explosives was intercepted by Saudi affiliated forces in Yemen, which is assumed to have been heading for Saudi Arabian oil facilities. For the time being it seems like a one-off case, and if so, the influence of the news could start fading away yet that remains to be seen. Also, the statements made by Russia\u2019s Energy minister Novak, that the oil market is on a recovery path created some optimism for the demand side as the pickup of economic activity is expected to raise the oil consumption levels. Should fundamentals on both sides, demand and supply as described, continue to affect the markets we may see black gold\u2019s prices rising further.
\nWTI prices jumped yesterday, breaking the 59.65 (S1) resistance line, now turned to support. We maintain a bullish outlook for the commodity\u2019s prices, yet as the RSI indicator below our 4-hour chart has surpassed the reading of 70, which confirms the bulls dominance, yet may also imply that the commodity is overbought and a correction lower is imminent. Should a correction lower actually be expressed and extended we may see WTI prices breaking the 59.65 (S1) support line aiming for lower grounds. Otherwise, should the buying interest be renewed, WTI prices could break the 61.15 (R1) line and aim for the 63.00 (R2) resistance level.<\/p>\n
Today we note Eurozone\u2019s industrial production for December and the release of Canada\u2019s manufacturing sales, while RBA\u2019s releases the minutes of its last meeting minutes during tomorrow\u2019s Asian session.<\/p>\n
On Tuesday, we get Germany\u2019s ZEW indicators for February and Eurozone\u2019s GDP rates for Q4. On Wednesday, we note Japan\u2019s Machinery orders for December and trade balance for January, UK\u2019s CPI rates for January, the US retail sales for January, Canada\u2019s CPI rates for January, the US industrial production for January and the Fed releases the minutes of its last meeting. On Thursday, we get Australia\u2019s employment data for January, Turkey\u2019s CBRT interest rate decision, the US weekly initial jobless claims and Eurozone\u2019s preliminary consumer confidence for February. On Friday, we get Australia\u2019s, Japan\u2019s, Germany\u2019s France\u2019s Eurozone\u2019s, UK\u2019s and the US preliminary PMIs for February, Japan\u2019s CPI rates for January, Australia\u2019s and UK retail sales for January and Canada\u2019s retail sales for December.<\/p>\n
\u0646\u0645\u0627\u062f \u0686\u0647\u0627\u0631 \u0633\u0627\u0639\u062a\u0647 \u0634\u0627\u062e\u0635 \u062f\u0644\u0627\u0631 \u0627\u0645\u0631\u06cc\u06a9\u0627<\/b><\/p>\n
<\/p>\n
Support: 89.92 (S1), 89.40 (S2), 88.95 (S3)<\/b><\/p>\n
Resistance: 90.55 (R1), 91.07 (R2), 91.65 (R3)<\/b><\/p>\n
\u0646\u0645\u0627\u062f \u0686\u0647\u0627\u0631 \u0633\u0627\u0639\u062a\u0647 WTI<\/b><\/p>\n
![\"support](\"https:\/\/shared.gighl.com\/Morning-Pictures-2021\/February%202021\/15-February-2021\/wti-cash-15-02-2021.png\")
<\/p>\n
Support: 59.65 (S1), 57.75 (S2), 56.00 (S3)<\/b><\/p>\n
Resistance: 61.15 (R1), 63.00 (R2), 65.40 (R3)<\/b><\/p>\n
![\"benchmark-15-02-2021\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2021\/February%202021\/15-February-2021\/benchmark-15-02-2021.PNG\")
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![\"table-15-01-2021\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2021\/February%202021\/15-February-2021\/table-15-02-2021.PNG\")
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![\"morning-releases-15-02-2021\"](\"https:\/\/shared.gighl.com\/Morning-Pictures-2021\/February%202021\/15-February-2021\/morning-releases-15-02-2021.PNG\")
<\/p>\n
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