Brent Crude Oil Wave Analysis – 2 February 2026

Brent Crude Oil: ⬇️ Sell

- Brent Crude Oil reversed from resistance level 69.50

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🇺🇸 US pre-market: Mostly negative 📉

The largest technology and energy companies are mostly trading in the red, while some defensive stocks are showing limited growth.

In the Technology Services sector, Alphabet (GOOGL) shares are down -0.91%, while Oracle (ORCL) shares are up +3.69%.

In the Financial sector, Berkshire Hathaway (BRK.B) shares are up +0.11%, while Bank of America (BAC) shares remain under slight pressure, losing -0.09%.

In the energy sector, Exxon Mobil (XOM) shares are down -1.49%, while Chevron (CVX) shares are down -1.73%, reinforcing the overall negative backdrop.

The predominance of declines in the most capitalised stocks is creating a risk-off environment within the US market, which is supporting the US dollar due to the inflow of demand for safe-haven dollar assets and Treasury bonds.

The crypto market has fallen back to last year’s low

The crypto market has lost nearly 13% of its capitalisation over the past seven days, falling to $2.59 trillion at the time of writing. With the market bottoming out at $2.52T, it is only $0.1T above last April's low. The sharp decline following consolidation signals the start of an extended downtrend. However, we also note that the current levels are in the strongest resistance zone for 2021–2024, which became support in 2025. Therefore, it is worth preparing for another and possibly quite protracted tug-of-war in the $2.3–2.7T range.

Bitcoin is trading near $78K, rebounding after this morning's dip below $75K. The first cryptocurrency began its recovery in April from the same area, which probably served as a trigger for bold buyers. We consider it an important bearish signal that BTC began to sell off actively after an unsuccessful attempt to consolidate above the 50-day average. The main scenario for the markets now may be a fall towards $50K in the next month and a half to two months.

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⚠️ USA — ISM Manufacturing PMI at 03:00 GMT

✔️ Prev: 47.9

🕒 Exp: 48.5

🎯 Fact.: 52.6 📈

Major events this week: rates, rates, NFP

Will central bank meetings and the release of US employment data restore investor interest in the economy? Or will the fate of the dollar be decided by a new shutdown? Politics drove the USD index's rollercoaster ride. First, there were Donald Trump's tariff threats against Europe, followed by the Republicans' retreat. Then, Forex moved even more actively when the president announced his support for weakening the greenback.

The development of a bearish trend in the Dollar could be a catalyst for slowing inflation in other regions. Investors will be interested to see the ECB's reaction after EURUSD reaches 1.20. In 2025, Vice-President Luis de Guindos noted that this is not good for the eurozone economy.

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🗓 Economic Calendar at 2026/02/03 (GMT)

03:30 🇦🇺 ⚡️ RBA Interest Rate Decision — Exp: 3.85% Actual: 3.85%

03:30 🇦🇺 ⚡️ RBA Rate Statement

03:30 🇦🇺 ⚡️ RBA Monetary Policy Statement

04:30 🇦🇺 ⚡️ RBA Media Conference

21:45 🇳🇿 ⚡️ Employment Change — Exp: 0.3%

21:45 🇳🇿 ⚡️ Unemployment Rate — Exp: 5.3%


[Updated in real time]

⚠️ Australia — RBA Interest Rate Decision at 03:00 GMT

✔️ Prev: 3.60%

🕒 Exp: 3.85%

🎯 Fact.: 3.85%

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⚠️ Australia — RBA Media Conference at 04:30 GMT

Very limited rebound in crypto

The crypto market capitalisation grew by 1.7% in 24 hours to $2.65 trillion. Once again, the positive sentiment in global financial markets came to the rescue of crypto. BNB is leading the rebound, benefiting from the support of the founder of Binance and Doge, which was mentioned again by Musk. At the same time, local resistance has formed in the market at $2.65-2.68 trillion, where the rebound has been losing momentum since the beginning of the month.

Bitcoin is trading above $78K, about 5% higher than Monday's lows, but hitting resistance from 1 February. This limited rebound is causing bearish sentiment about the immediate prospects for Bitcoin and the whole crypto market.

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▶️ EURJPY Current situation #tradelikeapro #trading #tradingshorts #eurjpy #currencytrading

Today is Tuesday, February 3rd, and we will talk about the Euro JPY This pair traditionally appears in our analysis every few weeks, and the reason is quite simple.

#tradelikeapro #trading #tradingshorts #eurjpy #currencytrading #currencytradingtips

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🇺🇸 US premarket: mixed dynamic 📈 📉

Some of the largest technology and consumer companies are demonstrating growth, while some mega-caps are trading with a moderate decline.

In the Electronic Technology sector, NVIDIA (NVDA) shares are up +0.62%, while Apple (AAPL) shares are down -0.63%.

In the Financial sector, JPMorgan Chase (JPM) shares are up +0.31%, while Berkshire Hathaway (BRK.B) is down -0.40%.

In the Technology Services sector, Alphabet (GOOGL) shares are up +1.25%, while Microsoft (MSFT) shares are under slight pressure, falling -0.23%.

The combination of a rise in some highly capitalised technology companies and weakness in certain giants is creating neutral risk sentiment. There are no signs of a noticeable shift away from risk or an aggressive search for yield.

The currency market shows no clear momentum for the dollar to strengthen or weaken: demand for defensive dollar assets and Treasury bonds remains moderate, and the short-term dynamics of the USD look relatively neutral, with increased sensitivity to new data on the US economy and Fed rhetoric.

The dollar moves forward

Greenback actively attacks opponents.

Central banks take different paths.

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🗓 Economic Calendar at 2026/02/04 (GMT)

01:45 🇨🇳 Markit Services PMI — Exp: 52.0 Actual: 52.3

01:45 🇨🇳 Markit Composite PMI Actual: 51.6

09:00 🇪🇺 Services PMI — Exp: 51.9 Actual: 51.6

09:00 🇪🇺 PMI Composite — Exp: 51.5 Actual: 51.3

09:30 🇬🇧 Services PMI — Exp: 54.3 Actual: 54.0

09:30 🇬🇧 PMI Composite — Exp: 53.9 Actual: 53.7

10:00 🇪🇺 Consumer Price Index — Exp: 1.7% Actual: 1.7%

10:00 🇪🇺 Consumer Price Index - Core — Exp: 2.3% Actual: 2.2%

13:15 🇺🇸 ⚡️ ADP Non-Farm Employment Change — Exp: 46K Actual: 22K

14:45 🇺🇸 Services PMI — Exp: 52.5 Actual: 52.7

14:45 🇺🇸 PMI Composite — Exp: 52.8 Actual: 53.0

15:00 🇺🇸 ⚡️ ISM Services PMI — Exp: 53.5 Actual: 53.8

15:30 🇺🇸 Crude Oil Inventories — Exp: -2000K Actual: -3455K


[Updated in real time]

⚠️ New Zealand — Employment Change at 03:00 GMT

✔️ Prev: 0.0% | -0.6%

🕒 Exp: 0.3% | -0.1%

🎯 Fact.: 0.5% 📈 | 0.2% 📈

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⚠️ New Zealand — Unemployment Rate at 03:00 GMT

✔️ Prev: 5.3%

🕒 Exp: 5.3%

🎯 Fact.: 5.4% 📉

Cisco Wave Analysis – 3 February 2026

- Cisco broke resistance area

- Likely to rise to resistance level 85.00

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EURJPY Wave Analysis – 3 February 2026

- EURJPY reversed from support area

- Likely to rise to resistance level 185.30

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