MHMarkets：2024.03.18 MHM European Time Analysis

Date: 2024.03.18 MHM European Time Analysis

In the foreign exchange market, the U.S. Dollar Index held steady at 103.45, with anticipation building around the Federal Reserve's expected decision to maintain interest rates at 5.50%. The Japanese yen weakened against the dollar, moving to 149.07, as Japan considered ending its long-standing negative interest rate policy, while the euro and British pound saw minor adjustments against the dollar. Cryptocurrency, notably Bitcoin, displayed significant volatility over the weekend, recovering to $68,640 on Sunday after a drop to $64,774 on Saturday.

The stock and commodities markets ended the week on a subdued note, with major U.S. stock indices, including the Dow Jones, S&P 500, and Nasdaq, all closing lower. This downturn was influenced by disappointing forecasts from tech giants and other sector leaders, though electric vehicle makers like Rivian Automotive and Tesla bucked the trend with positive gains. The bond market saw a slight increase in the 10-year Treasury yield, while oil and gold prices experienced modest declines, reflecting broader market caution.

In Asian markets, the USD/JPY pairing remained stable, even as Japan reported a sharper-than-expected decline in machinery orders. The Chinese economy showed mixed signals with higher industrial production but slightly disappointing retail sales, affecting the AUD/USD exchange rate. Looking ahead, the market awaits key economic indicators, including the Eurozone's inflation rate and the U.S. NAHB housing market index, which are expected to provide further insights into the global economic landscape and influence upcoming market movements.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2155.01; 2168.55
Support levels:	2139.00; 2123.83
The 4-hour chart for gold shows recent resistance near 2155.01; 2168.55 and support near 2139.00; 2123.83. 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 18th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	81.64; 83.00
Support levels:	80.19; 79.11
The 4-hour chart for US crude oil indicates resistance levels near 81.64; 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 18th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0917; 1.0958
Support levels:	1.0867; 1.0835
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0917; 1.0958 and support levels near 1.0867; 1.0835. 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 18th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2771; 1.2807
Support levels:	1.2723; 1.2691
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2771; 1.2807 and support levels near 1.2723; 1.2691. 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 18th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.