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Technical Analysis

The technical discussion forum for traders.

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    • Date : 27th March 2023. Market Update – March 27 – A Volatile Final Week of Q1? Asian markets are much calmer today after another wild and volatile week, but bank angst and recession risk continue to linger. JPY is underperforming peers to start the week. US Stocks eked out gains on Friday, the USD recovered & Treasury yields fell across the curve, with all trading under 4%. Deutsche & Commerzbank lost -8.53% and -5.54% respectively. European and US FUTS are currently higher. First Citizens Bank will buy SVB from the FDIC, the Head of the IMF warns that global financial stability is at risk from banking turmoil, and the head of the Saudi Arabian national bank is forced to resign after sparking the run on Credit Suisse. Week Ahead: US GDP on Wednesday and the CORE PCE Price Index on Friday top the data releases and the week, month and quarter.   FX – USDIndex rallied from 102.00 on Friday to test 103.00 and holds at 102.80 now. EUR slipped to 1.0750 and continues to rotate round this level. JPY dipped below 129.50 on Friday before recovering to 131.25 now. Sterling tested down to 1.2200 on Friday and holds at 1.2225 now. UK OBR said that UK economy is 4% smaller due to Brexit exclusively. Stocks – US markets moved higher (+0.31% to +0.41%) Major movers were elsewhere: DB.de -8.53%, CBK.de -5.54%. Tech giants lifted US markets. US500 +0.56% (+22.27) to 3970, US500 FUTS higher too 4021 now.   Commodities – USOil – Futures tested the $67.00 level again on Friday before recovering to $70.00. Gold – could not hold the key psychological $2000 level on Friday and trades at $1970 now. Cryptocurrencies – BTC holds at $28k after struggling to move away from this level last week. Today – German Ifo, Speeches from Fed’s Jefferson, BoE’s Bailey, ECB’s Schnabel & Elderson. Biggest FX Mover @ (07:30 GMT) CADJPY (+0.55%). Continued the rally today from Friday’s low test of 94.00 back to 95.50 now. MAs aligned higher, MACD histogram & signal line positive & rising, RSI 65 & rising, H1 ATR 0.198, Daily ATR 1.600. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • $CENX Century Aluminum stock back to 8.98 triple support area with high trade quality , see https://stockconsultant.com/?CENX
    • $LAC Lithium Americas stock back to 20.43 support area with bullish stats , see https://stockconsultant.com/?LAC
    • $SPR Spirit AeroSystems stock atemtping to move higher off the 30.22 support area , see https://stockconsultant.com/?SPR
    • $FSLY Fastly stock, tight bull flag breakout watch above 16.58 , see https://stockconsultant.com/?FSLY
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