MHMarkets：2024.03.22 MHM European Time Analysis

Date: 2024.03.22 MHM European Time Analysis

The forex market witnessed a notable rebound in the U.S. dollar index, reaching 104.02, as major currencies like the EUR/USD, GBP/USD, and AUD/USD experienced declines against the strengthening dollar. This shift came amid various economic updates, including Germany's disappointing manufacturing PMI and the Bank of England maintaining its interest rate, which impacted the GBP significantly. Meanwhile, the Swiss National Bank's unexpected rate cut contributed to the USD/CHF's sharp rise. During these currency movements, Bitcoin saw a fluctuation, peaking at $68,234 before retracting to $65,500, reflecting a more than 3% decrease for the day.

In the realm of stocks and commodities, U.S. markets ended the day on a positive note, with all three major stock indexes reaching record highs, despite Apple facing legal challenges and Accenture revising its sales outlook downward. Financial, industrial, energy, and basic materials sectors led the gains, while Nvidia and Micron Technology stood out with significant rises following strong performance reports. Contrarily, Reddit made a remarkable debut in the stock market, surging 48.35% from its IPO price. Economic indicators like jobless claims and existing home sales surpassed expectations, providing a boost to market sentiments, alongside mixed performances in European stocks and a slight retreat in U.S. WTI crude oil and gold prices.

The Asian session held steady with minor movements in major currencies like the USD/JPY, while Japan's core inflation rate ticked higher than anticipated. Looking ahead, the focus shifts to Germany's Ifo business climate index, U.K. retail sales, and Canada's retail sales data, expected to provide further insights into the economic outlook of these regions. Market participants are closely monitoring these developments to gauge potential impacts on future market directions.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2185.60; 2208.45
Support levels:	2152.90; 2123.89
The 4-hour chart for gold shows recent resistance near 2185.60; 2208.45 and support near 2152.90; 2123.89. 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 22nd at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	81.94; 83.00
Support levels:	80.65; 79.71
The 4-hour chart for US crude oil indicates resistance levels near 81.94; 83.00 and support levels near 80.65; 79.71. 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 22nd at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0866; 1.0892
Support levels:	1.0823; 1.0795
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0866; 1.0892 and support levels near 1.0823; 1.0795. 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 22nd at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2655; 1.2703
Support levels:	1.2599; 1.2552
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2655; 1.2703 and support levels near 1.2599; 1.2552. 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 22nd at 15:00. This strategy is for intraday purposes; please consider the strategy release time.