Today's Forex Top News

On the dollar side, it has been in high demand over the past few weeks, cautious market mood has pushed capital flows into safe assets, while economic strength and rapid vaccine rollout US rapid growth has increased the attractiveness of the greenback.

The country's claim to unemployment dropped to its lowest level in a year last week and President Joe Biden has said he will double his vaccination target, after reaching 100 million shots. 42 days ahead of time. US stocks futures fell slightly as capital flows to rebalance at the end of the quarter were boosted.

Compared to a basket of currencies, the dollar stabilizes at 92,810, just below November's high of 92.92 reached last week.

2️⃣ Significant events and economic data today

- At 22:00 today the US publishes its Consumer Confidence index. Measuring the level of consumer confidence in economic activity. This is a leading indicator as it can forecast consumer spending, playing a key role in overall economic performance. The higher the number, the higher the consumer optimism is.

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Comment on Gold on March 26, 2021

‼️  At the end of yesterday session, precious metal had a 2-way downward trend when it fell from 1738 to 1724, but immediately rebounded to 1745 and then decreased again to 1721. With the up and down momentum Recently, the precious metal Gold has not escaped from the accumulation zone 1745-1725. So in my personal opinion we will continue to trade Gold within this cumulative margin.

- Looking at H4 time frame, we can see selling pressure on this precious metal for many days, although the downside pressure of H4 candles appears, but the price still stands above 1725 and above MA20. D1 daily chart timeframe for the past several days. Because of this, the price zone of 1725 becomes a strong support zone, where in my opinion we can establish a buy position with the precious metal Gold. Let us keep trading within the cumulative range of Gold at 1738-1740 in the beginning of today's session.

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Comment on Gold on March 25, 2021

📕 Comment on Gold on March 25, 2021:

 

‼️ After touching the short-term support zone at 1725 gold precious metal has rebounded from 1723 to 1738 ($ 15) to close the daily candle around 1733. With the end of the daily candle around this price zone, in my personal opinion, would still maintain the bearish stance as reported yesterday.

 

- On the daily chart timeframe we can see that this precious metal Gold, although it had a rebounding rate yesterday, but compared to the decrease of the next candle, it is my opinion that the recovery span increases. usually let us have a better selling point today.

 

- Considering the smaller timeframe of H4, we can see that the price zone 1734-1736 is the zone where the precious metal price is facing resistance and it is likely that in this Asian session, gold will correct again to the zone 1725 and the period. My expectation is around 1715.

 

- And every strategy we all must have SL to preserve accounts. In my opinion, if the price of Gold rebounds strongly beyond 1744, we will have to liquidate the order, waiting for the next signal.

 

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Top Forex News by Money Life Research

1️⃣ Fed Chair - J. Powell's comments during the late-night hearing yesterday:

- Powell said that the post-pandemic economic recovery has "progressed faster than generally expected and appears to be consolidating." However, the sectors of the economy that were hardest hit by the pandemic are "still weak" and the unemployment rate is still "underestimated," so recovery still has a long way to go .

- Powell also expected inflation to rise this year, but it would "be neither too large nor persistent."

2️⃣ UK labor market was more positive than expected

Britain's unemployment rate unexpectedly dropped over the 3-month period through January, official data showed Tuesday.

Specifically, the primary unemployment rate fell to 5.0% in the three months through January from 5.1% in the last quarter of 2020, contrary to the forecast in a Reuters poll of a small increase to 5.2%. . None of the economists polled expected a drop.

- Howard Archer, UK chief economist said: "The latest labor market data is a bit mixed but shows significant resilience."

3️⃣ The EU continues to face concerns about a stalling recovery

Europe is facing a tough second quarter as coronavirus infections rise and governments re-apply blockade measures. However, the European Central Bank (ECB) will do its part to keep borrowing costs extremely low, said Philip Lane, ECB chief economist.

- Fearing that rising borrowing costs will hinder a recovery, ECB earlier this month promised to increase bond purchases to keep yields low. The figures released on Monday show that purchases of mostly government bonds have increased by a half in the week since that decision.

Immunization campaigns have slowed surprisingly across 19 eurozone countries and governments are now extending blockade measures that threaten economic recovery.

4️⃣ Notable economic data and events today

- Powell and Yellen will attend the Senate Banking Committee hearing at 22:00 on Wednesday, and their content matches Tuesday.

In addition, Fed officials Barkin, Williams and Daley will all deliver a speech. Kaplan's latest speech is an anomaly, and you might notice the attitudes of other officials about the rate hike.

- European Central Bank President Lagarde will deliver a speech on climate change at 23:40 PM. The Federal Reserve has set up a new climate committee to oversee some of the European Central Bank's actions.

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Comment on Gold on March 23 by Money Life Research

 ‼️  At the end of yesterday's session, Gold price had a day of decline when the price fell from 1745 to 1727 ($ 18) closed the daily candle by a bearish candle at 1738. This is the 4th consecutive day in a row. while the precious metal Gold is still in the sideways from 1745-1725. With Gold still in this range, I still hold my personal opinion as in the last few days, we will sell down in this price range and wait for the breakout.

- As I mentioned as yesterday morning's comment. Personally, I am still waiting for a downward sweep of gold precious metal below the price zone that it is going sideways to be able to go up further so today we will continue to sell down precious metals. This is in the 1741-1746 region. Safe target will remain on the 1727-1732 price zone and expect 171x today.

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BITCOIN AND ETHEREUM PRICE, ANALYSIS AND CHART

A quiet open to the week for Bitcoin but volatility may soon return as the cryptocurrency becomes trapped between two trendlines. The recent uptrend continues to serve Bitcoin traders well, providing well-flagged areas of support. This trend is now coming under pressure from a short-term bearish resistance trendline off the recent high print, meaning a break of one trend will happen in the near future. This bullish pennant set-up suggests, as the name implies, a topside breakout that would put the recent all-time high under pressure. A clean break and open either above or below trend is needed to confirm the next move.

Ethereum, the second-largest cryptocurrency, is struggling to push higher and may find difficulty breaching the $2,000 level again in the near-term. While a cluster of recent lows, and the 20- and 5-day smas, between $1,700 and $1,750 provide reasonable support, the short-term downtrend off the March 13 high at $1,944 may put this support zone under pressure and expose the next level of support around $1,670. ETH/USD remains volatile with a current 14-day ATR reading of around $117, suggesting that any break lower has the room to test the $1,670 level quickly.

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Comment on Gold on March 19, 2021

 At the end of the session yesterday, the world gold price had a strong decline from 1755 to 1719 ($ 36), but at the end of the session, the price of gold rebounded and closed the daily candle at 1732 with a tree. candle draw legs. In my opinion, after the gain of Wednesday night, yesterday the price dropped just like that, back to the sideways 1723-1740. So we can trade the precious metal Gold in these 2 margins.

- Moving to the H4 time frame, in my opinion, Gold may still be under downward pressure at the beginning of today's session to come back to test the 1716-1720 price range again. Only consider the signal of a reversal of Gold here. If the precious metal Gold does not pass this price range, it is likely that Gold will have an uptrend again.

- One more thing in my opinion, we should limit trading in the middle of the current price at the beginning of the Asian session to wait for the deep waves of this precious metal to establish an entry position that will be safer for the asset. our account.

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