Forex Top Team

XAU/USD: Strong Buy – Currency of Interest and Technical Analysis (15-minute chart) March 29, 2024

EUR/USD: Strong Buy – Mild Decline
The Euro/Dollar pair is testing a breakdown at the 1.0775 level, developing a “bearish” momentum amid reduced market activity due to the Easter holiday closures. In the U.S. today, macroeconomic statistics regarding the personal consumption expenditures price index are scheduled for release, an indicator actively used by the Federal Reserve to gauge inflation trends.

GBP/USD: Sell – Range Trend
The British Pound/Dollar pair is trading around 1.2625, with trading activity reduced ahead of the Easter holiday, but awaiting the release of the U.S. personal consumption expenditures price index, a key inflation indicator. This data is expected to clarify issues regarding potential reductions in borrowing costs by the Federal Reserve in June.

AUD/USD: Buy – Range Trend
The Australian Dollar/Dollar pair is testing a breakdown at 0.6510, with traders inclined to close some short positions ahead of the shortened trading week due to Easter. Today, macroeconomic statistics from the U.S., including the personal consumption expenditures price index, are scheduled for release, which may cause fluctuations in the AUD/USD rate.

USD/JPY: Strong Sell – Range Trend
The Dollar/Yen pair is trading around 151.30, ready to end the week with a slight decline. Today, key statistics on personal income and spending as well as the personal consumption expenditures price index will be released from the U.S. These data are expected to show a slight increase from 0.3% to 0.4% monthly and from 2.4% to 2.5% annually.

XAU/USD: Strong Buy – Sharp Increase
The Gold/Dollar pair is developing a vibrant “bullish” movement formed at the beginning of the week, aiming to update to new highs above 2230.00. The anticipated rate cuts by the Federal Reserve continue to provide support for gold.