Technical Analysis (XAUUSD)

The price of gold (24th of March) was around 1726.8 USD/Ounce early today. Under 1-hour-chart technical analysis, it pulled back after fluctuating slightly in the swing high yesterday (23rd). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1734.0~1736.0. The current support level lies between 1716.0~1718.0. Investors who wish to sell short could consider selling between 1731.0~1733.0 in the short-term and setting the stop loss above 1735.0.

Technical Analysis (EURUSD):

The price of EUR/USD (24th of March) was around 1.18468 early today. Under 1-hour-chart technical analysis, after the candlestick rebounded slightly, it plummeted as predicted yesterday (23rd). It is currently lying between the middle and lower Bollinger Bands. The bands are facing downwards and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.18800~1.18900. The current support level lies between 1.18100~1.18200. Investors who wish to sell short could consider selling between 1.18550~1.18650 in the short-term and setting the stop loss above 1.18750.

Technical Analysis (GBPUSD):

The price of GBP/USD (24th of March) was around 1.37466 early today. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (23rd). The candlestick is currently forming a bearish pattern, lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 1.38000~1.38100. The current support level lies between 1.37000~1.37100. Investors who wish to sell short could consider selling between 1.37500~1.37600 in the short-term and setting the stop loss above 1.37800.

Technical Analysis (AUDUSD):

The price of AUD/USD (24th of March) was around 0.76246 early today. Under 1-hour-chart technical analysis, it plummeted again after rebounding to the resistance level as predicted yesterday (23rd). The candlestick is currently lying between the middle and lower Bollinger Bands. The bands continue facing downwards and expanding, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 0.76600~0.76650. The current support level lies between 0.75650~0.75700. Investors who wish to sell short could consider selling between 0.76150~0.76250 in the short-term and setting the stop loss above 0.76350.

Technical Analysis (USOUSD):

The price of USO/USD (24th of March) was around 57.36 this morning. Under 1-hour-chart technical analysis, it plummeted as predicted yesterday (23rd). The candlestick is currently forming a bearish pattern, lying between the middle and lower Bollinger Bands. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 59.40~59.50. The current support level lies between 56.30~56.40. Investors who wish to sell short could consider selling between 57.70~57.90 in the short-term and setting the stop loss above 58.10.

Technical Analysis (Nas100):

The NASDAQ (24th of March) was around 13051.3 this morning. Under 1-hour-chart technical analysis, the candlestick pulled back sharply after rebounding to the resistance level as predicted yesterday (23rd). It is currently rebounding and fluctuating below the middle Bollinger Band. The bands are facing downwards, so it is likely to decline again after rebounding to the resistance level.

Currently, the short-swing upper resistance level lies between 13130.0~13150.0. The current support level lies between 12950.0~12970.0. Investors who wish to sell short could consider selling between 13040.0~13060.0 in the short-term and setting the stop loss above 13090.0.

Economic Calendar (24th of March)

(Source: uk.investing.com: https://uk.investing.com/economic-calendar/)

 TimeCurrencyDataImportance
1.08:00GBPCPI (MoM) (Feb)★★
2.08:00GBPRPI (YoY) (Feb)
3.09:15EURFrench Manufacturing PMI (Mar)  ★★
4.09:30EURGerman Manufacturing PMI (Mar)  ★★★
5.10:00EURManufacturing PMI (Mar)  ★★
6.10:30GBPManufacturing PMI (Mar)  ★★★
7.10:30GBPServices PMI (Mar) ★★★
8.13:30USDDurable Goods Orders (MoM) (Feb)★★
9.14:45USDManufacturing PMI (Mar)★★
10.14:45USDServices PMI (Mar)★★
11.15:30USDEIA Refinery Crude Runs (WoW)

(Importance: maximum three stars★★★)

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