EURUSD

The Euro is trading lower early this morning in the wake of hawkish comments from U.S. Federal Reserve (Fed) Chair Jerome Powell that opened the door for the central bank to take a more aggressive monetary policy path. The common currency remains under pressure after dovish comments from European Central Bank (ECB) President Christine Lagarde. Lagarde said on Monday that the Fed and ECB will also move out of sync, as the war in Ukraine has very different impacts on their respective economies. Looking forward, EURUSD bears will keep eyes on the central bankers’ comments, as well as Ukraine-Russia headlines to tighten the grips.

Technical analysis:
From the overview of price in EURUSD, the overall trend is bearish. From the daily time-frame price retested the major resistance level of 1.1130 before breaking multiple lows to the downside. Price is currently retesting a minor level of 1.1010 to continue lower after a series of lower lows to the downside. The MACD and RSI are below the centre-line for the added likelihood of further decline.

Dow Jones 30 (US 30)

The central bank must move “expeditiously” to combat inflation, Powell told the National Association for Business Economics conference, adding that bigger-than-usual interest rate hikes could be deployed if needed. Federal Reserve (Fed) policymakers will take the necessary steps to get inflation down even if that means increasing interest rates by more than 25 basis points at a meeting.

Technical analysis:
The overall trend for the Dow Jones is bullish. Price seems to have broken major highs and is currently on a corrective move to the support level of 34,180. The RSI and MACD are within the centre-line which could possibly lead to price continuation to the bullish direction.

Bitcoin (BTCUSD)

Goldman Sachs announced it had executed the first over-the-counter (OTC) cryptocurrency transaction with Galaxy Digital on March 21, reflecting the bank’s continued expansion of crypto offerings and demonstrating the continued maturation and adoption of digital assets by banking institutions. The first OTC crypto transaction was in the form of a Bitcoin non-deliverable option (NDO) and represents a continuation of the Bank’s partnership with Galaxy Digital to deepen its crypto capabilities.

Technical analysis:
From the overview of price in BTCUSD, the overall bias is still bearish as the price is still trading below the major resistance level from the daily time frame. From the 1hr time frame, the price seems to have broken the minor resistance level to the upside. There could be a minor correction to the support level of 42,430 before the price continues higher to test the daily resistance level. The RSI and MACD are above the centre-line which indicates price continuation to the bullish direction.