MHMarkets：2024.03.14 MHM European Time Analysis

Date: 2024.03.14 MHM European Time Analysis

In the forex market, the U.S. dollar showed a lack of momentum, slipping to 102.82 on the dollar index, while the Euro and the British pound made modest gains against it, buoyed by mixed economic reports from their respective regions. The Euro appreciated slightly against the dollar after data revealed a sharper than expected decline in Eurozone industrial production, and the pound edged higher as the U.K. GDP growth exceeded expectations, despite a slight drop in industrial production. Meanwhile, currencies like the Australian dollar and the Swiss franc saw small movements against the U.S. dollar, and Bitcoin surged to a new all-time high, highlighting the cryptocurrency's continued bullish trend.

In the stock and commodities sectors, U.S. markets closed mixed with the Dow Jones inching up and the S&P 500 and Nasdaq experiencing declines. Noteworthy movements included a dip in Tesla's stock following a downgrade and significant losses for major tech companies like Apple, Meta, and Intel, the latter suffering from the loss of a substantial government grant. Conversely, sectors like energy, materials, and consumer staples outperformed, and Microstrategy's stock soared alongside Bitcoin's price rally. European markets showed mixed results, and U.S. WTI crude oil and gold prices rose, reflecting the day's varied investor sentiment and market dynamics.

Asian markets presented a quieter session with minor changes in currency pairs such as the EUR/USD and GBP/USD, while USD/JPY saw a slight increase. Gold remained stable, and Bitcoin experienced a minor correction. Looking ahead, the focus shifts to the U.S. economic reports, with expectations set for retail sales growth, stable producer prices index, and figures on jobless claims and business inventories, which could influence market sentiments and trading dynamics in the coming session.

Gold (XAUUSD) Technical Analysis
Resistance levels:	2182.64; 2195.52
Support levels:	2165.96; 2153.67
The 4-hour chart for gold shows recent resistance near 2182.64; 2195.52 and support near 2165.96; 2153.67. 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 14th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

Crude Oil (USOUSD) Technical Analysis:
Resistance levels:	80.20; 80.96
Support levels:	79.11; 78.18
The 4-hour chart for US crude oil indicates resistance levels near 80.20; 80.96 and support levels near 79.11; 78.18. 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 14th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.

EUR/USD Technical Analysis:
Resistance levels:	1.0958; 1.0985
Support levels:	1.0930; 1.0902
The 4-hour chart for the Euro against the US Dollar shows resistance levels near 1.0958; 1.0985 and support levels near 1.0930; 1.0902. 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 14th 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 14th at 15:00. This strategy is for intraday purposes; please consider the strategy release time.