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AUDUSD H4 18 March 2024AUD/USD, H4 18 March 2024 The AUD/USD pair faced significant pressure from the robust U.S. dollar and witnessed a sharp decline in the previous session. However, the pair managed to find support ahead of the upcoming RBA interest rate decision scheduled for tomorrow (March 19th). With inflation in Australia remaining elevated, the market anticipates that the RBA will maintain its current interest rate level to mitigate inflationary pressures and prevent economic recession. AUD/USD is consolidating at near 0.6560 levels, suggesting a potential trend reversal for the pair. Suggesting the pair's bearish momentum remains intact. Resistance level: 0.6560, 0.6617📉 Support level: 0.6540, 0.6485📈
Short
by top_fx
USDJPY H4 18 March 2024 USD/JPY, H4 18 March 2024 The Japanese yen experienced significant selling pressure as investors offloaded positions ahead of high volatility events. Despite the sell-off, bullish prospects remain for the Japanese yen, driven by speculation of potential monetary shifts from the Bank of Japan. Tuesday's BOJ meeting is poised to be consequential, with officials deliberating on ending eight years of negative interest rates in a landmark shift away from its stimulus program. USD/JPY is trading higher while currently testing the resistance level. Suggesting the pair might enter overbought territory. Resistance level: 148.35, 150.80📉 Support level: 149.15, 150.80📈
Long
by top_fx
EURUSD H4 18 March 2024EUR/USD, H4 18 March 2024 The EUR/USD pair experienced a significant decline in the recent session and is currently hovering above the 1.0866 level. Market attention is focused on the Eurozone's CPI reading, which is scheduled for later today. Projections suggest that the CPI reading may come in lower than the previous figure, signalling a potential easing in inflationary pressures. If the actual CPI reading falls below expectations, it could exert additional downward pressure on the pair. EUR/USD has found support and consolidation after its significant plunge from the last session. Suggesting the pair's bearish momentum remains intact. Resistance level: 1.0960, 1.1040📉 Support level: 1.0870, 1.0775📈
Short
by top_fx
GBPUSD H4 18 March 2024GBP/USD, H4 18 March 2024 The GBP/USD pair faced pressure from the strengthening dollar following the release of higher-than-expected PPI figures last week. Expectations are for the pair to experience notable fluctuations this week, with several significant events on the calendar likely to influence its direction. The upcoming FOMC interest rate decision on Wednesday and the BoE interest rate decision on Thursday are both anticipated to be key drivers for the pair's movement. Traders will closely monitor these events for insights into potential shifts in monetary policy and their implications for the GBP/USD exchange rate. GBP/USD is trading in a bearish trajectory but is currently supported at the above 1.2710 level. Suggesting the pair remains trading with bearish momentum. Resistance level: 1.2780, 1.2880📉 Support level: 1.2710, 1.2630📈
Short
by top_fx
XAUUSD H4 18 March 2024🔖XAU/USD, H4🔖 18 March 2024 Gold prices declined as the US Dollar appreciated and US Treasury yields rose, dampening demand for non-yielding assets like gold. Better-than-expected economic data from the US signalled expectations of more hawkish policies from the Federal Reserve, further weighing on gold demand. Investors are closely monitoring monetary policy decisions for trading signals amid shifting market dynamics. Gold prices are trading lower while currently testing the support level. Suggesting the commodity might extend its losses after breakout. Resistance level: 2150.00, 2235.00📉 Support level: 2080.00, 2035.00📈
FX:XAUUSDShort
by top_fx
DOLLAR_INDX,DXY H4 18 March 2024💵 DOLLAR_INDX, H4 💵 18 March 2024 The Dollar index strengthened against major currencies in anticipation of the Federal Open Market Committee's (FOMC) monetary policy decisions. Last week's higher-than-expected US producer and consumer price indexes raised hopes for a hawkish stance from the Federal Reserve. All eyes are on the Fed meeting for clues on the central bank's outlook for rate cuts. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory. Resistance level: 103.75, 104.50📉 Support level:103.05, 102.40📈
TVC:DXYLong
by top_fx
AUDUSD H4 15 March 2024AUDUSD H4 15 March 2024 The AUD/USD pair experienced losses, breaking below crucial support levels as a sharp resurgence in demand for the US Dollar prevailed. Firm inflation data and positive labor market figures contributed to the Dollar's recovery, alongside ongoing speculation regarding the Fed's expected rate adjustments. Further catalysts for the Australian dollar are expected to hinge on China's economic outlook. AUD/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout. Resistance level: 0.6625, 0.6685📉 Support level: 0.6560, 0.6485📈
Short
by top_fx
EURUSD H4 15 March 2024EUR/USD, H4 15 March 2024 The EUR/USD pair sustained bearish momentum driven by US Dollar appreciation following stronger-than-expected inflation data. Diminished expectations for Fed interest rate cuts in the short term contrasted with upcoming ECB policy maker comments on monetary policy prospects in Europe. Investors monitored monetary statements for further trading signals amidst ongoing market volatility. EUR/USD is trading lower while currently testing the support level. Suggesting the pair might extend its losses after breakout. Resistance level: 1.0960, 1.1005📉 Support level: 1.0870, 1.0800📈
Short
by top_fx
XAUUSD H4 15 March 2024🔖XAU/USD, H4🔖 15 March 2024 Gold prices extended losses and consolidated around after reaching record highs. Investors opted for profit-taking strategies while awaiting further catalysts before re-entering the market. Improved inflation data raised expectations for the Federal Reserve to delay rate cut policies, potentiallyn impacting non-yielding commodities like gold. Gold prices are trading lower following the prior retracement from the resistance level. Suggesting the commodity might enter overbought territory. Resistance level: 2175.00, 2265.00📉 Support level: 2100.00, 2050.00📈
FX:XAUUSDLong
by top_fx
DOLLAR_INDX,DXY H4 15 March 2024💵 DOLLAR_INDX, H4 💵 15 March 2024 The Dollar Index, tracking the greenback against a basket of major currencies, rebounded on the heels of better-than-expected inflation figures. The robust data prompted heightened expectations of rising interest rates, leading to a resurgence in US Treasury yields. According to the US Bureau of Labor Statistics, the Producer Price Index (PPI) for the previous month saw a significant increase from 0.30% to 0.60%, surpassing market forecasts of 0.30%. Additionally, Initial Jobless Claims reported by the Department of Labor came in at 209K, better than the expected 218K, signalling continued strength in the labour market. The Dollar Index is trading higher following the prior breakout above the previous resistance level. Suggesting the index might enter overbought territory. Resistance level: 103.75, 104.50📉 Support level:103.05, 102.40📈
TVC:DXYLong
by top_fx
🛢 CL OIL H4 🛢 14 March 2024🛢 CL OIL, H4 🛢 14 March 2024 Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following OPEC's latest forecast. Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might extend its gains after breakout. Resistance level: 80.20, 84.10📉 Support level: 78.00, 75.95📈
TVC:USOILLong
by top_fx
AUDUSD H4 14 March 2024AUD/USD, H4 14 March 2024 AUD/USD edged higher as markets anticipated a potential Federal Reserve interest rate cut in June, despite sticky inflation data. Contrastingly, the Reserve Bank of Australia (RBA) hints at potential rate hikes amidst elevated inflammation levels, signalling divergent monetary policies between the two central banks. AUD/USD is trading higher while currently testing the resistance level. Suggesting the pair might extend its gains Resistance level: 0.6645, 0.6680📉 Support level: 0.6585, 0.6535📈
Long
by top_fx
EURUSD H4 14 March 2024EUR/USD, H4 14 March 2024 EUR/USD experienced modest gains, supported by US Dollar depreciation. However, market sentiment remains mixed as investors weigh macroeconomic outlooks in the Eurozone and the United States. Anticipation builds ahead of potential borrowing cost adjustments by the European Central Bank (ECB) and the Federal Reserve (Fed) in June. EUR/USD is trading higher while currently testing the resistance level.Suggesting the pair might extend its gains after breakout Resistance level: 1.0960, 1.1095📉 Support level: 1.0865, 1.0765📈
by top_fx
GBPUSD H4 14 March 2024GBP/USD, H4 14 March 2024 Pound Sterling saw a modest rebound post UK GDP data release, which met market expectations. According to the Office for National Statistics, the UK economy returned to expansion in January, rising by 0.20% after contracting 0.10% in December, which aligned with the market expectations. Despite returning to growth in January, Pound Sterling remained relatively subdued amidst ongoing volatility. Market participants await additional catalysts before taking decisive positions. GBP/USD is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains toward resistance level. Resistance level: 1.2865, 1.2940📉 Support level: 1.2770, 1.2710📈
Long
by top_fx
1
XAUUSD H4 14 March 2024🔖XAU/USD, H4🔖 14 March 2024 Amidst prevailing market caution ahead of crucial US economic data releases, gold prices rebounded from support levels, extending their bullish trajectory. Lingering risk aversion prompted investors to seek refuge in safe-haven assets, contributing to heightened demand for gold. Gold prices are trading higher following the prior rebound from the support level. However, Suggesting the commodity might experience technical correction. Resistance level: 2235.00, 2350.00📉 Support level:2150.00, 2080.00📈
FX:XAUUSD
by top_fx
DOLLAR_INDX,DXY H4 14 March 2024💵 DOLLAR_INDX, H4 💵 14 March 2024 The Dollar Index retreated from resistance levels as market participants absorbed higher-than-expected Consumer Price Inflation (CPI) data, prompting profit-taking strategies ahead of upcoming US economic releases. Attention now turns to pivotal Producer Price Index (PPI) and retail sales figures for insights into the economy's trajectory and potential interest rate adjustments. The Dollar Index is trading lower following the prior retracement from the resistance level. Suggesting the index might extend its losses. Resistance level: 103.05, 103.70📉 Support level:102.55, 102.10📈
TVC:DXYShort
by top_fx
1
Help Shape the Future of TradingView ContentHello, TradingView community! 👋🏽 As we continue to grow and evolve, our commitment to providing value to our users remains paramount. At TradingView, we understand that our users are at the heart of everything we do. This is why we constantly strive to offer content that enriches your trading experience, empowers your decisions, and nurtures your growth as a trader. TradingView is not just a platform; it's a community. And it's your voice, your needs, and your insights that make us who we are. That's why we're reaching out to ask you: What type of publications do you want to see more published by TradingView? We're all ears and eager to tailor our content to better suit your interests and help you achieve your trading goals. Here are just a few examples of what we can offer, but we're excited to hear your ideas too: 📚 Educational ideas : Learn from comprehensive ideas on various tools and features, trading concepts, and other informative content. 👀 Market Insights and News : Stay informed with the latest market developments, trends, and news via the TradingView Digest. 🆕 New Features Announcements : Discover and learn about the latest features and tools available on TradingView. 🎦 Educational Videos : Short, insightful videos demonstrating how to effectively utilize various features and tools on our platform. 🧙🏽‍♂️ Trading Wisdom : Gain wisdom and insights from seasoned traders and industry experts to refine your trading skills. www.tradingview.com 🤔 Something we missed ? These are just a few examples, but we want to know what resonates most with you. We want to make sure that every piece of content we publish is something you find useful, informative, and enriching. ❔So, how can you contribute? It's simple: Share your thoughts in the comments below! Tell us about the types of content you're interested in, any specific features you'd love to learn more about, or anything else you believe would enhance your TradingView experience. We're listening, and we can't wait to hear from you. With 💖, Team TradingView
INDEX:BTCUSD
by TradingView
80
AUD/USD H4 13 March 2024AUD/USD, H4 13 March 2024 The Australian dollar, while experiencing a slight retreat from its recent bullish momentum against the U.S. dollar, continues to follow an upward trajectory in the AUD/USD pair. Traders are carefully positioning themselves ahead of the Reserve Bank of Australia (RBA) interest rate decision scheduled for next week. Market expectations lean towards the RBA adopting a relatively hawkish stance, considering Australia's high inflation rate and stable GDP growth. The AUD/USD pair has found support and traded sideways after easing slightly from its recent peak. Suggesting the bullish momentum is easing. Resistance level: 0.6617, 0.6660📉 Support level: 0.6560, 0.6535📈
Long
by top_fx
EURUSD H4 13 March 2024EUR/USD, H4 13 March 2024 The EUR/USD pair has showcased resilience, managing to strengthen against the dollar even as the latter saw an upswing in the previous session fueled by a robust CPI reading. The euro's buoyancy can be largely attributed to a hawkish stance adopted by several members of the European Central Bank (ECB), indicating a reluctance to consider a rate cut in the near term. This position is further supported by recent regional economic data surpassing expectations, suggesting that the ECB's tightening monetary policy could persist for extended periods. This scenario highlights the euro's strength amidst signals of the ECB's more cautious and prolonged approach to monetary tightening. EUR/USD has eased from its bullish trend but remains in an uptrend trajectory. Suggesting that the bullish momentum is drastically easing. Resistance level: 1.0955, 1.1040📉 Support level: 1.0865, 1.0775📈
Long
by top_fx
GBPUSD H4 13 March 2024GBP/USD, H4 13 March 2024 The Pound Sterling has managed to find support at 1.2780 levels, experiencing a modest rebound from its recent bearish trend. However, recent economic data from the UK has presented some challenges for the currency. Yesterday's release of average earning growth and the unemployment rate fell short of expectations, adding to the pressure on the Sterling. Meanwhile, the Dollar strengthened further as the CPI reading surpassed expectations. Traders are likely to closely monitor the upcoming UK GDP reading scheduled for today. This data will provide insights into the overall economic conditions in the country, potentially influencing the strength and direction of the Pound. GBP/USD has found support from its recent bearish trend at 1.2780 levels, suggesting a potential rebound at these levels. Suggests the bullish momentum is vanishing. Resistance level:1.2905, 1.2995📉 Support level: 1.2780, 1.2710📈
Long
by top_fx
DOLLAR_INDX H4 13 March 2024💵 DOLLAR_INDX, H4 💵 13 March 2024 The Dollar Index, consisting of major currencies, surged following the release of robust US inflation data. February's consumer price growth exceeded expectations, indicating persistent inflationary pressures that could complicate the Federal Reserve's rate decisions. Headline US consumer prices rose by 3.2% annually, surpassing forecasts of 3.1%, while core CPI data climbed to 3.8%, exceeding economists' projections at 3.7%, according to the US Bureau of Labor Statistics. The Dollar Index is trading higher while currently testing the resistance level. Suggesting the index might extend its gains after breakout. Resistance level: 103.05, 103.70📉 Support level:102.55, 102.10📈
TVC:DXYLong
by top_fx