MHMarkets：2024.03.13 MHM European Time Analysis

Date: 2024.03.13 MHM European Time Analysis

In the recent forex market movements, the U.S. dollar saw a slight increase against major currencies, bringing the dollar index to 102.93. Noteworthy was the EUR/USD pair, which slightly decreased by 4 pips to 1.0922, while the USD/JPY pair experienced a rise of 73 pips to 147.67. The GBP/USD pair also witnessed a decline, dropping 22 pips to 1.2794, amidst data revealing a climb in the U.K. jobless rate to 3.9%, aligning with expectations. The AUD/USD pair fell marginally by 10 pips to 0.6604 following the National Australia Bank's business confidence index reporting at zero for February, slightly above expectations. Additionally, Bitcoin displayed volatility, reaching an all-time high of $73,027 before descending to $68,603, and later recovering to $71,700.

The U.S. stock and commodities markets showed a rebound, with the S&P 500 climbing by 57 points to a record close of 5,175, marking a 1.12% increase. The Dow Jones and Nasdaq 100 also saw gains, with technology, consumer discretionary, and healthcare sectors leading the surge. Notable movements included Nvidia‘s 7.16% increase and Oracle’s surge by 11.75% after reporting better-than-expected sales. Conversely, Kohl's and Boeing faced declines, with Boeings setbacks highlighted by a New York Times report on inspection failures. European stocks mirrored this positive trend, while U.S. WTI crude oil and gold prices saw slight adjustments.

In the Asian markets, the forex landscape showed the EUR/USD and GBP/USD pairs making minor gains, whereas the USD/JPY pair saw a reduction. Gold prices experienced a slight recovery, and Bitcoin's value remained steady. The upcoming reports include the eurozone‘s industrial production, expected to decrease by 1.2% in January, and the U.K.’s GDP, anticipated to rise by 0.1%. Additionally, the U.K.s industrial production and goods trade deficit projections suggest a minor downturn and a deficit of 13.7 billion pounds, respectively, highlighting the global economic dynamics influencing market movements.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2174.06; 2194.28
Support levels:	2148.06; 2123.63
The 4-hour chart for gold shows recent resistance near 2174.06; 2194.28 and support near 2148.06; 2123.63. 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 13th 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 13th 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 13th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

GBP/USD Technical Analysis:
Resistance levels:	1.2827; 1.2886
Support levels:	1.2771; 1.2723
The 4-hour chart for the British Pound against the US Dollar indicates resistance levels near 1.2827; 1.2886 and support levels near 1.2771; 1.2723. 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 13th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.