Forex Top Team

GOLD(XAU)/USD: Strong Buy – Currency of Interest and Technical Analysis (15-minute chart) March 18, 2024

EUR/USD: Buy – Assessing Trends The Euro/US Dollar pair shows slight downward movement, testing a breakdown at 1.0940. Market participants are seeking new catalysts, with attention on Spain’s consumer price statistics and speeches from representatives of the European Central Bank (ECB) today. In the US, statistics on producer prices and retail sales are scheduled for release. Yesterday’s industrial production statistics from the Eurozone have exerted pressure on the market.

GBP/USD: Sell – Continuing the Downward Trend Towards the Weekend The British Pound/US Dollar pair continues its downward trend, testing a breakdown at 1.2790. The impact of the recent short-term rise in US inflation data has weakened the position of the US dollar.

NZD/USD: Strong Buy – Seeking Directionality The New Zealand Dollar/US Dollar pair is experiencing quiet trading, remaining around 0.6160. Investors await the release of US producer price statistics.

USD/JPY: Sell – Showing Strength Again The US Dollar/Japanese Yen pair demonstrates significant growth, rebounding from last week’s local lows. With the release of US producer price index and retail sales statistics imminent, the position of the US dollar is strengthening once again.

GOLD(XAU)/USD: Strong Buy – Waiting for New Movements The Gold/US Dollar pair is stagnating around 2170.00. The announcement of US producer price statistics yesterday temporarily pressured gold prices.

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