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Indices Turned Higher Amid Global Recovery, Upbeat U.S Jobless Data & Soft US Dollar Index

By Research Team Friday, Mar 26, 2021
EUR/USD

    • 3.20pm IStD1
    • High1.17973
    • Low1.17711
    • Close1.17858

EUR/USD is trading at 1.17921, 0.34% down since Thursday. The EURO seems to be trading flat to lower side against the strong USD amid global cues. Optimism in economic recovery outlook overshadowed the growing tension between US & China which created mixed momentum in EUR/USD. Earlier in a week, the Euro-zone released better than expected PMI figures which slightly supported the EUR/USD. However, the surging Covid-19 cases in Europe; resulting into extension of lockdown may continue the downward momentum in the pair EUR/USD. As seen in the chart, the pair is trading near the lower trend-line of channel pattern & hence, further selling may be seen if breached.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.19195
R2 1.18535
R1 1.18132
Turnaround 1.17875
S1 1.17472
S2 1.17215
S3 1.16555
By Research Team Friday, Mar 26, 2021
NATURAL GAS

    • 3.37pm ISTD1
    • High2.635
    • Low2.604
    • Close2.616

Natural gas is trading at $2.617, 0.22% up since previous day close. The natural gas prices moved up on Friday post release of Energy Information Administration (EIA) report which showed a shortage in Natural Gas inventory levels by 36B against the expected fall of 21B. This shows lesser supplies against the steady demand. Globally, the lockdown in European regions amid rising Covid-19 cases limits the usage of energy products & hence, the prices moved down earlier.  The change in climatic conditions in U.S further affects the consumption demand of heating fuels. Wait & watch strategy may be adopted in Natural gas since the commodity is trading near MA (10) & MA (20).

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Daily Outlook

Natural gas

Intra Day
Near Day

Technical Levels

R3 2.79400
R2 2.68900
R1 2.65200
Turnaround 2.58400
S1 2.54700
S2 2.47900
S3 2.37300
By Research Team Friday, Mar 26, 2021
AUS200

    • 3.55pm ISTD1
    • High6808
    • Low6776
    • Close6784

AUS200 is trading at 6786, 0.18% up since previous day close. The Asian shares surges following the optimism in U.S markets amid recovery in economic conditions with a concern over employment sector. Earlier in this week, the rising tension between U.S & China after U.S threatened to delist Chinese companies from the bourses dragged 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 for AUS200 on long run. As seen in the chart, the index is consistently trading within a tight range of sideways channel pattern & hence, buying on dips may be recommended on daily basis.

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Daily Outlook

AUS200

Intra Day
Near Day

Technical Levels

R3 6885.00000
R2 6820.00000
R1 6796.00000
Turnaround 6755.00000
S1 6731.00000
S2 6690.00000
S3 6625.00000
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