MHMarkets：2024.03.11 MHM European Time Analysis

Date: 2024.03.11 MHM European Time Analysis

The forex market saw the U.S. dollar index experiencing its most significant weekly decline of the year, dropping 1.11% to settle at 102.74. The euro saw a slight decline against the dollar, dropping to 1.0935 despite Germany's industrial production exceeding expectations. The yen strengthened against the dollar, hinting at potential shifts in Japan's monetary policy, while the British pound and Australian dollar made modest gains. The Canadian dollar's rise was supported by better-than-expected employment data. In the cryptocurrency realm, Bitcoin surged to a new high, flirting with the $70,000 mark over the weekend after a brief pullback.

In stock and commodities markets, U.S. indices ended a bullish streak, with the Dow, S&P 500, and Nasdaq all closing lower amidst mixed economic signals. The job market showed strength, but wage growth underwhelmed, affecting market sentiment. Technology stocks, including Nvidia and other semiconductor giants, faced significant sell-offs, while gains in real estate and energy sectors couldn't buoy the broader market. European markets showed mixed results, and U.S. crude oil prices dipped. Gold, however, capitalized on the dollar's weakness, reaching a new peak before stabilizing.

The Asian session remained tense, with the yen maintaining its ground as Japan narrowly avoided recession, signaling a potential shift in economic momentum. The euro and pound saw minor adjustments in their valuations against the dollar. With gold holding steady and Bitcoin showcasing relative stability, the markets seemed to be in a holding pattern, awaiting new catalysts. No significant economic data were expected, suggesting a potentially quiet day ahead for global financial markets.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2194.28; 2208.62
Support levels:	2168.03; 2148.06
The 4-hour chart for gold shows recent resistance near 2194.28; 2208.62 and support near 2168.03; 2148.06. 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 11th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	79.25; 80.20
Support levels:	77.56; 76.51
The 4-hour chart for US crude oil indicates resistance levels near 79.25; 80.20 and support levels near 77.56; 76.51. 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 11th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0947; 1.0985
Support levels:	1.0916; 1.0884
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0947; 1.0985 and support levels near 1.0916; 1.0884. 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 11th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2871; 1.2908
Support levels:	1.2837; 1.2800
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2871; 1.2908 and support levels near 1.2837; 1.2800. 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 11th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.