1. Forex Market Insight
EUR/USD
The euro rose 0.13% to 1.0953 against the dollar the European economy and the euro are particularly sensitive to the Ukraine war and oil prices.
The drop in oil prices reflected hopes that the Russian-Ukrainian talks could soon lead to a peaceful solution.
Technical Analysis：
(EUR/USD 1-hour chart)
Execution Insight:
Today we focus on the 1.0890-line. If the euro runs steadily above the 1.0890-line, then pay attention to the suppression strength of the two positions of 1.0986 and 1.1031. If the strength of the euro breaks below the 1.0890-line, then pay attention to the support strength of the two positions of 1.0832 and 1.0776.
GBP Intraday Trend Analysis
Fundamental Analysis：
The Federal Open Market Committee (FOMC) may raise interest rates by 25 basis points at this meeting.
This comes after Fed Chairman Powell has made hints of a strong rise in the dollar, causing the pound to fluctuate sideways at the bottom.
Technical Analysis：
(GBP/USD 1-hour chart)
Execution Insight:
The pound is mainly focused on the 1.3104-line today. If the pound runs below the 1.3104-line, it will pay attention to the support strength of the two positions of 1.2991 and 1.2872. If the pound runs above the 1.3104-line, it will pay attention to the suppression strength of the two positions of 1.3186 and 1.3276.
2. Precious Metals Market Insight
Gold
Fundamental Analysis:
Gold prices moved sharply downward for three consecutive trading days, falling to near $1,907 on Tuesday, 15th March 2022.
In light of the Ukraine peace talks, the impending Fed rate hike and the overall retreat in commodity prices. There is a decline in demand for safe-haven assets.
In addition, the fall in oil prices has brought positive signs that inflation may cool down, and thus anti-inflationary demand will be cooled.
Today’s focus is still the further news of the Russia-Ukraine negotiations in the coming days.
In addition, US retail sales data, known as “Terrorist Data”, will be released at 20:30 in the evening, which needs to be paid attention to.
Technical Analysis：
(Gold 1-hour chart)
Trading Strategies:
Gold pays attention to the 1909-line today. If the gold price runs steadily above the 1909-line, then it will pay attention to the suppression of the 1929 and 1948 positions. If the gold price breaks below the 1909-line, it will open up further downside. At that time, we will pay attention to the support strength of the two positions of 1896 and 1880.
3. Commodities Market Insight
WTI Crude Oil
Fundamental Analysis:
Oil prices continued their decline yesterday, with U.S. oil down more than 6% on signs that Iran nuclear talks may resume, which will make it possible for more oil supplies to enter the market.
Meanwhile, the spread of the global epidemic and the geopolitical situation may affect the demand which leads to more worries again.
Technical Analysis：
(Crude oil 1-hour chart)
Trading Strategies:
Oil prices focus on the 90.44-line today. If the oil price runs above the 90.44-line, then pay attention to the suppression of the 95.05 and 99.50 positions. If the oil price runs below the 90.44-line, then pay attention to the support of the 88.02-line.
Disclaimer
While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.
