1. Forex Market Insight
EUR/USD
The EUD/USD rose up 0.02% to 1.0986, having earlier touched $1.0945, its lowest since March 15th.
Russia’s intentions toward Ukraine and its economic impact on Eastern Europe continue to weigh on the euro.
The fate of the euro this week may depend on inflation data from Europe’s major economies, with the Eurozone Harmonised Index of Consumer Prices (HICP) expected to rise modestly to 6.5% in March.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Today we focus on the 1.0986-line. If the euro runs steadily below the 1.0986-line, then pay attention to the support strength of the two positions of 1.0940 and 1.0890. If the strength of the euro breaks above the 1.0986-line, then pay attention to the suppression strength of the two positions of 1.1013 and 1.1055.
GBP Intraday Trend Analysis
Fundamental Analysis：
The pound fell 0.68% against the dollar to 1.3093, driven by short-covering of the euro against the pound and sharply lower yields on British government bonds.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound is mainly focused on the 1.3186-line today. If the pound runs above the 1.3186-line, it will focus on the suppression of the 1.3302 and 1.3365 positions. If the pound runs below the 1.3186-line, it will focus on the support strength of the 1.3104 and 1.2991 positions.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
The upside potential for gold looks limited in light of the current trend in gold prices, but the war in Ukraine also provides solid support.
Meanwhile, the fact that both sides are negotiating is a positive sign, it is unlikely that the market will fully unwind the post-Russian invasion fear trade until the negotiations successfully end the fighting.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold pays attention to the 1929-line today. If the gold price runs steadily below the 1929-line, then it will pay attention to the support strength of the 1919 and 1909 positions. If the gold price breaks above the 1929-line, it will open up further upward space. At that time, we will pay attention to the suppression strength of the two positions in 1937 and 1948.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Yesterday. 28th March 2022, the BSE ended the day down 9.18% to close at $106.6 per barrel.
The Turkish Foreign Ministry announced that a new round of face-to-face talks between Russia and Ukraine will be held in Istanbul, Turkey on the 29th local time, alleviating market concerns about crude oil supply.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
Oil prices focus on the 107.52-line today. If the oil price runs below the 107.52-line, then focus on the support strength of 102.52 and 99.50. If the oil price runs above the 107.52 line, then pay attention to the suppression of 111.95 and 116.30.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
