Register for MT4 Demo Account

Register for xStation Account

Mixed Momentum in Markets Ahead of Fed Speech & Gold Prices Moves Upside

By Research Team Tuesday, Mar 23, 2021
GBP/USD

    • 1.10pm ISTD1
    • High1.38642
    • Low1.38214
    • Close1.38225

GBP/USD is trading at 1.38516, 0.03% down since Monday. The Sterling Pound seems to be trading in a tight range against the firmer USD ahead of the Fed Powell speech which is due today; hinting over economic recovery rate & progress. On Monday, the major currencies weakened against as the President Tayyip Erdogen surprisingly fired hawkish Central bank Chief Naci Agbal just after two days of raising an interest rate in order to offset the 16% inflation. The result of U.K employment data & BoE Governor Bailey’s speech will remain into focus for the day. As seen in the chart, the GBP/USD is trading within a range of Fibo level 50.0 & 61.8 which indicates a breakout on either side. The cautious trading may be seen on daily basis.

Read More… Read Less

Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.39703
R2 1.39112
R1 1.38866
Turnaround 1.38510
S1 1.38275
S2 1.37930
S3 1.37339
By Research Team Tuesday, Mar 23, 2021
WTI OIL

    • 1.45pm ISTD1
    • High61.31
    • Low60.47
    • Close60.79

WTI Oil is trading at $60.58, 0.27% down since Monday. The downside continued to be seen in Oil price on Tuesday as USD turned slightly firmer ahead of Fed Powell speech. Also, the fear looms over lockdown in European countries amid rising Covid-19 cases which limit the Oil consumption demand. The recent U.S baker Hughes report showed a rise in Oil rig counts by 9 leading to 318 from 309 in the previous week. Last week, OPEC agreed to extend oil output cut measures & the passage of U.S stimulus bill may remain major factors for upward trend in Oil prices on long term basis. As seen in the chart, the Oil slid down till lower trend-line of bullish channel pattern & hence, the cautious trading can be seen in the commodity.

Read More… Read Less

Daily Outlook

WTI Oil

Intra Day
Near Day

Technical Levels

R3 64.57000
R2 62.87000
R1 62.02000
Turnaround 61.17000
S1 60.32000
S2 59.47000
S3 57.77000
By Research Team Tuesday, Mar 23, 2021
CHNIND

    • 1.24pm IStD1
    • High61.31
    • Low60.47
    • Close60.79

CHNIND is trading at 11084, 0.13% down since previous day close. The Asian shares seem to be trading in a specific range amid mixed global cues. Upcoming event of Fed Powell & U.S Treasury Secretary speech contributes cautious trading amongst the traders & investors. On Monday, the equities remained volatile since Turkish President Erdogen sacked Central bank Chief for raising interest rates aggressively to curtain inflation rate. Besides this, the strong USD & rising bond yields suppressed the major indices. The result of Chinese CB Leading Index data will remain in focus for the day. As seen in the chart, the index is trading near the short term Moving Averages & hence, may see an upside if took a support of the same.

Read More… Read Less

Daily Outlook

Intra Day
Near Day

Technical Levels

R3 64.57000
R2 62.87000
R1 62.02000
Turnaround 61.17000
S1 60.32000
S2 59.47000
S3 57.77000
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)