The global financial markets are experiencing some volatility due to uncertainties surrounding central bank policies and economic data. However, the overall sentiment leans towards a bullish trend for Bitcoin and a potential decline for EUR/USD and GBP/USD in the near future. USD/JPY, AUD/USD, and Gold are facing mixed signals, with the direction largely dependent on upcoming economic events and policy decisions.
EUR/USD
- Expected to continue its downtrend.
- Possible correction underway, but could be nearing completion.
- Short positions with targets around 1.0462 are still considered.
GBP/USD
- Suggests a decline, but the downtrend might be complex and lengthy.
- Selling is considered with targets below 1.2039, but upside potential to 1.3140.
- A break above 1.2877 indicates possible bullish momentum.
USD/JPY
- Bulls are struggling despite positive wage increase data in Japan due to uncertainty from BoJ and Fed.
- Resistance at 148.00, support at 147.15.
- Further downside potential below 146.00.
AUD/USD
- Australian dollar edges higher despite decline in business confidence.
- RBA meeting on March 18th is expected to maintain current interest rates.
- Resistance at 0.6702 and 0.6780, support at 0.6590 and 0.6512.
Bitcoin (BTC)
- Recent surge attributed to growth in ETF investments and expectations of reaching $150,000 this cycle.
- Liquidity crisis concerns exist due to ETF buying pressure.
- Potential for exceeding cyclical high if selling pressure mounts.
Gold (XAU/USD)
- Expected to see a bearish correction in the short term.
- Sell signal below $2,170 with targets at $2,156, $2,125, $2,093, and $2,073.
- Bullish continuation if consolidation above $2,180 occurs.
Categories: Market News
