MHMarkets：2024.03.27 MHM European Time Analysis

Date: 2024.03.27 MHM European Time Analysis

In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31. Key currency pairs saw slight shifts: the Euro fell slightly against the dollar, dropping 5 pips to 1.0831, even as German consumer confidence showed a minor improvement. The Japanese yen and the Swiss franc also experienced changes against the dollar, with USD/JPY rising by 16 pips and USD/CHF by 45 pips, respectively. The Australian dollar and the British pound both saw small declines against the U.S. dollar, while Bitcoin struggled to maintain the $70,000 level amidst these fluctuations.

The stock and commodities markets had a mixed day, with U.S. stocks ending the session lower, unable to sustain early gains. Major indices such as the Dow Jones, S&P 500, and Nasdaq saw declines, impacted by losses in utilities, energy, and technology sectors. Despite the overall downtrend, some companies like McCormick and Seagate Technology reported strong performances, bucking the day's negative trend. Meanwhile, European stocks fared better, closing higher across major indices. In the commodities market, gold prices saw a modest increase, while U.S. WTI crude oil futures dropped, reflecting a diverse day in market movements.

During the Asian trading session, movements in currency pairs like the AUD/USD and EUR/USD highlighted regional economic data, with the Australian dollar falling after inflation rates came in as expected. Meanwhile, gold's price edged higher, and Bitcoin remained stable, indicating a cautious optimism among investors. Looking ahead, market participants are eyeing the eurozone's economic sentiment and France's consumer confidence index, with expectations set for a slight improvement in both metrics, potentially signaling a shift in investor sentiment and economic outlook as new data becomes available.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2180.50; 2191.23
Support levels:	2169.07; 2159.04
The 4-hour chart for gold shows recent resistance near 2180.50; 2191.23 and support near 2169.07; 2159.04. The breakthrough or failure to break through these support and resistance levels will be used as a basis for future market analysis.Note: The above strategy update was provided on March 27th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	81.32; 82.15
Support levels:	80.40; 79.66
The 4-hour chart for US crude oil indicates resistance levels near  81.32; 82.15 and support levels near 80.40; 79.66. Future market analysis will depend on the breakthrough or failure to break through these support and resistance levels.Note: The above strategy update was provided on March 27th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0842; 1.0866
Support levels:	1.0812; 1.0791
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0842; 1.0866 and support levels near 1.0812; 1.0791. The breakthrough or failure to break through these support and resistance levels will be used as a basis for future market analysis.Note: The above strategy update was provided on March 27th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2655; 1.2703
Support levels:	1.2581; 1.2541
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2655; 1.2703 and support levels near 1.2581; 1.2541. Future market analysis will depend on the breakthrough or failure to break through these support and resistance levels.Note: The above strategy update was provided on March 27th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.