MHMarkets：2024.03.15 MHM European Time Analysis

Date: 2024.03.15 MHM European Time Analysis

In the foreign exchange market, the U.S. dollar demonstrated resilience, appreciating against a basket of major currencies, with the dollar index advancing to 103.34. This rise was reflected in various currency pair movements: EUR/USD declined by 62 pips to 1.0884, USD/JPY saw an uptick of 51 pips to 148.25, and GBP/USD decreased by 45 pips to 1.2751, despite the U.K.'s house price index showing some improvement. The Australian and Canadian dollars, along with the Swiss franc, also lost ground against the strengthening U.S. dollar. Meanwhile, Bitcoin experienced significant volatility, reaching a new high before undergoing a sharp correction, ultimately finding a level around $71,600 after dramatic fluctuations throughout the trading session.

The performance of stocks and commodities was mixed, with major U.S. stock indices experiencing slight declines: the Dow Jones, S&P 500, and Nasdaq 100 all closed lower, amidst a backdrop of economic data that included a spike in producer-price growth and a slight uptick in retail sales. Market sectors such as real estate, financials, and utilities led the declines. Contrasting fortunes were seen among major companies, with significant movements in shares of Tesla, Nvidia, and Microsoft, among others. Notably, Dick's Sporting Goods outperformed expectations, while Dollar General and Lennar reported disappointing results. International markets reflected a similarly subdued mood, with minor fluctuations across European indices and commodities like crude oil and gold seeing mixed results.

In Asia, currency markets continued to adjust, with slight movements in major pairs like EUR/USD and GBP/USD, while USD/JPY edged higher. Gold prices remained stable, and Bitcoin saw a further retreat in value. Looking ahead, economic indicators such as France's inflation rate and the U.S.'s manufacturing index, along with other key metrics like import prices and industrial production, are set to provide more direction for markets. These upcoming data releases are closely watched for their potential impact on market sentiment and future monetary policy decisions, amid ongoing assessments of economic health and inflationary pressures.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2174.52; 2188.50
Support levels:	2153.67; 2139.00
The 4-hour chart for gold shows recent resistance near 2174.52; 2188.50 and support near 2153.67; 2139.00. 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 15th at 16:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	81.65; 83.00
Support levels:	80.19; 79.11
The 4-hour chart for US crude oil indicates resistance levels near 81.65; 83.00 and support levels near 80.19; 79.11. 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 15th at 16:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0913; 1.0969
Support levels:	1.0858; 1.0797
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0913; 1.0969 and support levels near 1.0858; 1.0797. 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 15th at 16:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2770; 1.2862
Support levels:	1.2695; 1.2611
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2770; 1.2862 and support levels near 1.2695; 1.2611. 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 15th at 16:00. This strategy is for intraday purposes; please consider the strategy release time.