WHAT HAPPENED?
Last week, we were unable to update the local high of $88,800, after which we broke the uptrend and went down.
As we mentioned earlier in the daily analysis on TradingView, of the support zones at the moment, only the accumulated volume zone of $84,400-$82,900 and technical levels can be noted. Therefore, the main priority for this week is to reduce to a minimum of $76,700.
WHAT WILL HAPPEN: OR NOT?
The only buyer's zone couldn't resist. The seller's pushing volumes appeared just above it, which will now act as a resistance zone when the price returns.
Long is contraindicated. Consider buys only when approaching the local minimum and testing the buyer's zone of $77,000-$73,000, or with abnormal market activity and a breakdown of the maximum of $88,800.
Sell Zones:
$84,000–$85,300 (pushing volumes)
$86,000–$87,200 (absorption of buyer's market aggression)
$95,000–$96,700 (accumulated volumes)
$97,500–$98,400 (pushing volumes)
$107,000–$109,000 (volume anomalies)
Buy Zone:
$77,000–$73,000 (volume anomalies, pushing volumes)
IMPORTANT DATES
This week we’re following these macroeconomic events:
• Monday, March 31, 12:00 (UTC) — publication of the German consumer price index;
• Tuesday, April 1, 03:30 (UTC) — announcement of the Australian interest rate decision;
• Tuesday, April 1, 09:00 (UTC) — publication of the consumer price index in the Eurozone compared to March 2024;
• Tuesday, April 1, 13:45 (UTC) — publication of the index of business activity in the US manufacturing sector for March;
• Tuesday, April 1, 14:00 (UTC) — publication of the number of open vacancies in the US labor market for February;
• Wednesday, April 2, 12:15 (UTC) — publication of changes in the number of people employed in the US non-agricultural sector in March;
• Thursday, April 3, 12:30 (UTC) — publication of the number of initial applications for US unemployment benefits;
• Thursday, April 3, 13:45 (UTC) — publication of the index of business activity in the US services sector for March;
• Thursday, April 3, 14:00 (UTC) — publication of the US non-manufacturing Purchasing Managers' Index for March;
• Friday, April 4, 12:30 (UTC) — publication of the average hourly wage, changes in the number of people employed in the non-agricultural sector and the unemployment rate in the United States for March;
• Friday, April 4, 15:25 (UTC) — speech by Fed Chairman Jerome Powell.
*This post is not a financial recommendation. Make decisions based on your own experience.
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Unlock your potential in trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.