Thursday's Fundamental Outlook For EUR/USD, Gold, U.S. Oil
Anton Kolhanov | Mar 23, 2017 04:44AM ET
On previous week increasing of US % rates didn’t bring anything new to the market, because he is already expected that and included this rising to the price. On this week we do not have any important news, so market will be trading sideways.
h2 TECHNICAL FORECAST/h2 h2 EUR/USD/h2Uptrend scenario:
An uptrend will start as soon as the market rises above resistance level 1.0780 - 1.0830, which will be followed by a move up to resistance level 1.1000 - 1.1130 and uptrend will be expecting to continue, while market is trading above support level 1.0750.
Downtrend scenario:
Start of downtrend we can expecting from now from resistance 1.0780 (neck line), which will be followed by a move down to support level 1.0500 - 1.0560. On h1-h4 time frame pair creating trend turn down pattern "double top". The downtrend may be expected to continue, while market is trading below resistance level 1.0830.
h3 GOLD/h3
Uptrend scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1250, which will be followed by reaching resistance level 1258.
Downtrend scenario:
Market is came to the second strongest resistance between level 1250 - 1258. An downtrend will start as soon, as the market drops below support level 1243, which will be followed by a move down to support level 1234 and then 1204.
Uptrend scenario:
Market is got one of strongest supports 47.50, as orange trend line. An uptrend will start as soon as the market rises above resistance level 48.00, which will be followed by a move up to resistance level 49.00 - 49.50.
Downtrend scenario:
The downtrend may be expected to continue in case the market drops below support level 47.50, which will be followed by reaching support level 47.00 - 46.00.
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