Register for MT4 Demo Account

Register for xStation Account

Major Currencies Depreciated, U.S-China Tensions Aggravated & Disappointing U.S Yellen's Comment

By Research Team Wednesday, Mar 24, 2021
AUD/USD

    • 10.17am IStD1
    • High0.76257
    • Low0.7594
    • Close0.7596

AUD/USD is trading at 0.76004, 0.34% down since Tuesday. The Aussie weakened the most against the USD since the growing tension between U.S & China may affect the consumption demand of commodities since Australia & China are the trading partners. On Monday, the Treasury Secretary Janet Yellen showed the chances of increase in tax rates & infrastructural plans which dragged down major currencies. The positive result of country’s PMI data failed to create any positive effect on AUD/USD. As seen in the chart, the pair is strongly trading near major support level of previous lows & hence, further selling may be approached if downside prevails on short term basis.

Read More… Read Less

Daily Outlook

AUD/USD

Intra Day
Near Day

Technical Levels

R3 0.79219
R2 0.77925
R1 0.77089
Turnaround 0.76631
S1 0.75795
S2 0.75337
S3 0.74043
By Research Team Wednesday, Mar 24, 2021
SOYBEAN

    • 10.50am ISTD1
    • High1426.04
    • Low1417.75
    • Close1424.79

Soybean is trading at $1424.54, 0.12% up since previous day close. The Soybean seems to be trading slightly on higher side; however limiting the gains amid tension between US & China. Also, the firmer USD ahead of the last day U.S Fed Powell speech remains crucial for agri-commodities. The change in climatic conditions in Argentina turning unfavorable for Soybean production & supplies; which makes the commodity more expensive. However, on global front, the U.S Senate passed a U.S stimulus bill worth $1.9 trillion which may remain positive for commodities on long term basis. As seen in the chart, the Soybean is hovering above the MA (10) & MA (20) & may take a support of the same & hence, buying may be seen.

Read More… Read Less

Daily Outlook

SOYBEAN

Intra Day
Near Day

Technical Levels

R3 1459.99000
R2 1442.35000
R1 1433.18000
Turnaround 1425.11000
S1 1415.94000
S2 1407.87000
S3 1390.63000
By Research Team Wednesday, Mar 24, 2021
GER30

    • 10.31am ISTD1
    • High14624
    • Low14577
    • Close14592

GER30 is trading at 14748, 0.09% down since previous day close. The European shares seem to be trading flat to lower side following the other global peers. The rising U.S-Sino tensions over human rights imposition & the U.S Treasury Secretary Yellen’s comments over expenditure & tax reforms widely pushed down the global indices. However, the progress in economic recovery, passage of U.S stimulus bill worth $1.9 trillion & evenly distribution of Covid-19 vaccine doses in the country may remain significant on long run. The concluding speech from U.S fed Powell today will remain in focus. As seen in the chart, the GER30 is trading near the major support level of MA (10) & so, the cautious trading may be recommended for the day.

Read More… Read Less

Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 15007.00000
R2 14815.00000
R1 14721.00000
Turnaround 14623.00000
S1 14529.00000
S2 14431.00000
S3 14239.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms (XFLOW & MT4) with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

© 2020 XFlow Markets LLC, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

  • triangle.png
  • Regulated by FSA

    XFlow Markets is not required to hold any financial services license or authorization in Saint Vincent and the Grenadines to offer its products and services.

XFlow Markets is incorporated in Saint Vincent and the Grenadines with registration no. 255 LLC governed by the Limited Liability Companies Act Chapter 151, registered by the Financial Service Authority of Saint Vincent and the Grenadines.

Telephone number: +44 20 3966 8838 Working hours: 7:00 AM - 5:00 PM (GMT+0)