Stocks Dip, Bitcoin Surges, Euro Weakens | Daily Market Update

DAILY MARKET NEWSLETTER | February 29, 2024

Market Overview

• US stocks edge lower ahead of inflation data release.

• Tech and healthcare stocks drag markets down.

• Euro weakens against the dollar (EUR/USD down to 1.0835).

• Bitcoin breaks $60,000 mark, fuels Microstrategy surge.

Key Market Movements

• Dow Jones: -0.06%

• S&P 500: -0.17%

• Nasdaq 100: -0.54%

• WTI Crude Oil: -0.61%

• Gold: + $3

• Bitcoin: +9% (briefly hit $64,000)

Directional Views from Trading Central

Here are key currency pairs and the Dow Jones index to watch, with analysis and potential strategies from Trading Central's research team:

• GBP/USD: Rebound continues. Look to buy above 1.2640, target 1.2680 & 1.2695.

• USD/JPY: Watch for break below 150.35, could trigger drop. Short below 150.70

• EUR/USD: Upside trend. Consider buying above 1.0815, target 1.0850 & 1.0865

• Dow Jones (CME): Resistance at 39030.00. Potential short positions below 39030

Important Notes:

• Market Volatility: Prices and key levels are subject to change. Use these views as a starting point for your own research.

• Explore More: The provided links offer deeper analysis and charts from Trading Central.