Forex Top Team

AUD/USD: Strong Buy – Currency of Interest and Technical Analysis (15-minute chart) March 26, 2024

EUR/USD: Strong Buy – Showing a Range Trend
The Euro/Dollar pair is trading around 1.0840, trying to develop the uncertain “bullish” momentum formed the previous day. Market activity is low, with today’s focus on the U.S. durable goods orders, a key indicator expected to rise by 1.3% in February. Also noteworthy are the U.S. consumer confidence and Richmond Federal Reserve manufacturing index data releases. The outcome of the speech by the European Central Bank’s Philip Lane is also drawing attention.

GBP/USD: Strong Buy – Virtually No Movement
The British Pound/Dollar pair is trading around 1.2640, maintaining Monday’s “bullish” sentiment despite low market activity. The dollar received momentum from the diminished expectations of a possible reduction in borrowing costs by the Federal Reserve in June. This scenario’s likelihood may be revised downward moving forward.

AUD/USD: Strong Buy – Showing a Range Trend
The Australian Dollar/Dollar pair is trading around 0.6540, ending Monday’s session with a significant increase mainly due to technical factors. Today, investors are focused on the durable goods orders statistics. Data on Australian consumer confidence is putting pressure on the pair’s position.

USD/JPY: Strong Sell – Virtually No Movement
The Dollar/Yen pair is trading around 151.37, with investors holding back actions at the start of the week while waiting for new drivers. The Ministry of Finance and the Bank of Japan have stated they are ready to take necessary measures to prevent further rapid weakening of the domestic currency.

XAU/USD: Buy – Stagnation After Uncertain Rise
The Gold/Dollar pair is stagnating near the 2170.00 level, with market participants not rushing into new positions while waiting for new macroeconomic indicators. The market still considers a rate cut in June as the main scenario, but its probability slightly exceeds 60.0%. Today, the U.S. will release statistics on durable goods orders.