Daily NAS100 & EUR/USD technical analysis on February 10

Daily technical analysis of NAS100

Technical outlook

Below is the one-hour chart of NAS100. Due to the swing highs and lows continue to rise, and the moving average shows a bullish signal. The short-term trend seems to go long. However, as the KD enters the overbought area, investors should pay attention to the risk of correction. Therefore, investors should wait for the correction. If the price is held by the 20 or 60MA, investors can set up long positions by J. Granville Rules.

NAS100 1H-Technical indicators and parameter：20MA、60MA、KD(9,3,3)

Market outlook and conclusion

As investors’ expectations of the US government’s relief measures become stronger, the market sentiment is also optimistic. In addition, the average daily confirmed cases of COVID-19 in the United States has dropped by 36% from the level two weeks ago, and the hospitalization rate has also fallen from the previous peak, indicating that the U.S. epidemic is gradually under control and the stock market has therefore performed strongly.

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Daily technical analysis of EUR/USD

Technical outlook

Below is the one-hour chart of EUR/USD. Due to the swing highs and lows continue to rise, and the moving average shows a bullish signal. The short-term trend seems to go long. However, as the KD enters the overbought area, investors should pay attention to the risk of correction. If the price does not fall below the 1.2122 support, then investors can open long positions.

EUR/USD 1H-Technical indicators and parameter：20MA、60MA、KD(9,3,3)

Market outlook and conclusion

The market assumes that the scale of the US relief measures may be larger than expected, which will cause the US government’s deficit to reach a new height. At the same time, the Fed’s easing policy also weakens the performance of the US dollar, causing the euro exchange rate to rebound slightly. However, consider of the Eurozone is still in a lockdown against the epidemic, coupled with its poor performance in economic data, the fundamentals have not improved significantly. Therefore, investors are not recommended to be overly optimistic about the Euro exchange rate and should be treated with caution.

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Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.