fbpx

Register for MT4 Demo Account

Register for xStation Account

GBP/USD Targets 1.2600, US Futures Dip on Waller's Hawkish Tone, WTI Retreats on Fed's Commentary and Crude Buildup

By Research Team Thursday, Mar 28, 2024
GBP/USD

    • 11:40D1
    • High1.2631
    • Low1.2627
    • Close1.2628

GBP/USD is trading at 1.26227, 0.08% down since previous day close. GBP/USD trades below the mid-1.2600s, with a bearish outlook. The pair maintains a bearish outlook below the key EMA and RSI indicator. The immediate resistance level is 1.2655, while the initial support level is at the 1.2600–1.2605 zone. The final UK GDP growth number is expected on Thursday. As seen in the chart, the pair is hovering around support. Hence, bearish moment is expected.

Read More… Read Less

Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.2690
R2 1.2670
R1 1.2652
Turnaround 1.2628
S1 1.2613
S2 1.2600
S3 1.2575
By Research Team Thursday, Mar 28, 2024
US30

    • 12:31 PMD1
    • High40119
    • Low40111
    • Close40116

US30 is trading at 40113, 0.07% down since previous day close. Stock index futures fell slightly on Wednesday due to hawkish comments from Federal Reserve Governor Christopher Waller. Markets were cautious ahead of a final reading on the US fourth-quarter gross domestic product. Dow Jones Futures fell 0.1% to 40,119.0 points. Waller said there was no hurry for the Fed to cut interest rates now, citing hotter-than-expected inflation readings. The Dow Jones Industrial Average led gains but closed shy of record highs. As seen in the chart, the index has rejected from resistance and trying to test the resistance one more time.

Read More… Read Less

Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 40741
R2 40500
R1 40302
Turnaround 40022
S1 39863
S2 39160
S3 39424
By Research Team Thursday, Mar 28, 2024
WTI

    • 1:20PM D1
    • High82.10
    • Low81.85
    • Close82.06

WTI is trading at 81.93, 0.47% up since previous day close. The US Dollar’s recovery and surprise increase in crude and gasoline stocks have boosted WTI prices,. The Fed’s hawkish comments and geopolitical tensions in the Middle East and Russia-Ukraine could further impact WTI prices. Meanwhile, the US GDP for Q4 remains steady at 3.2%, and the Personal Consumption Expenditures Price Index data for February is also in focus. As seen in the chart, WTI has been hovering around inside the region trying to break it, a slight bearish market is expected.

Read More… Read Less

Daily Outlook

WTI

Intra Day
Near Day

Technical Levels

R3 83.06
R2 82.55
R1 81.87
Turnaround 81.21
S1 80.68
S2 80
S3 79.49
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.

 

© 2023 XFlow Markets, 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 INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

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.

Telephone number: UK: +44 20 38355241 | Dubai: +971 54 339 3959 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.