MHMarkets：2024.03.12 MHM European Time Analysis

Date: 2024.03.12 MHM European Time Analysis

In the latest market summary, the U.S. dollar index remained unchanged at 102.84, demonstrating stability in the forex markets. The EUR/USD and GBP/USD experienced minor declines, while the USD/JPY, AUD/USD, and USD/CHF saw slight adjustments, reflecting a mixed performance across major currencies. Bitcoin notably surged over 5% to a new record high of $72,943, continuing its streak of gains amid strong investor interest.

The stock and commodities markets had a varied day, with the S&P 500 and Nasdaq 100 recording losses, whereas the Dow Jones Industrial Average posted a slight gain. The U.S. 10-year Treasury yield edged higher, and investors remained on alert for the upcoming U.S. inflation data. Sector-wise, materials, energy, and consumer staples saw improvements, while others dipped. Notably, Microstrategy's stock hit a record following an increase in its Bitcoin holdings, amidst a mixed performance from other major companies and movements in the natural gas sector, highlighted by EQT Corp's acquisition of Equitrans Midstream.

In the Asian session, the forex market saw the USD/JPY rising and minor adjustments in the AUD/USD and EUR/USD pairs. Gold prices saw a slight decrease, and Bitcoin's value dipped from its recent high. Looking ahead, key economic indicators such as Germany's inflation rate, the U.K. jobless rate, and the U.S. core inflation rate are anticipated, alongside the NFIB business optimism index, setting the stage for potential market shifts based on these outcomes.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2194.28; 2208.62
Support levels:	2168.03; 2148.06
The 4-hour chart for gold shows recent resistance near 2194.28; 2208.62 and support near 2168.03; 2148.06. 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 12th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	79.25; 80.20
Support levels:	77.56; 76.51
The 4-hour chart for US crude oil indicates resistance levels near 79.25; 80.20 and support levels near 77.56; 76.51. 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 12th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0947; 1.0985
Support levels:	1.0916; 1.0884
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0947; 1.0985 and support levels near 1.0916; 1.0884. 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 12th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2863; 1.2908
Support levels:	1.2800; 1.2750
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2863; 1.2908 and support levels near 1.2800; 1.2750. 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 12th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.