Please note ThinkMarkets does not provide CFD services to residents of the US.

Please note ThinkMarkets does not provide CFD services to residents of the US.

Learn To Trade
 
Indicators & Chart Patterns

Deepen your knowledge of technical analysis indicators and hone your skills as a trader.

Find your detailed guides here
Trading Glossary

From beginners to experts, all traders need to know a wide range of technical terms. Let us be your guide.

Learn more
Knowledge Base

No matter your experience level, download our free trading guides and develop your skills.

Learn more
Learn To Trade

Trade smarter: boost your skills with our training resources.

Create a live account
Market Analysis
 
Market News

All the latest market news, with regular insights and analysis from our in-house experts

Learn more
Economic Calendar

Make sure you are ahead of every market move with our constantly updated economic calendar.

Learn more
Technical Analysis

Harness past market data to forecast price direction and anticipate market moves.

Learn more
Live Webinars

Boost your knowledge with our live, interactive webinars delivered by industry experts.

Register now
Special Reports

Engaging, in-depth macroeconomic analysis and expert educational content from our in-house analysts

Learn more
Market Analysis

Harness the market intelligence you need to build your trading strategies.

Create a live account
Partnership
 
Affiliate Programme

Grow your business and get rewarded. Find out more about our Affiliate Programme today.

Learn more
Introducing Broker

ThinkMarkets ensures high levels of client satisfaction with high client retention and conversion rates.

Learn more
Proprietary Trading

Partner with us to build your own prop trading business. Enquire with our account managers today.

Learn more
White Label

We supply everything you need to create your own brand in the Forex industry.

Learn more
Regional Representatives

Partner with ThinkMarkets today to access full consulting services, promotional materials and your own budgets.

Learn more
Refer a friend

Receive $50 for you and your friend when you convert them into an active trader of ThinkMarkets.

Learn more
Partnership

Plug into the next-gen platforms and the trades your clients want.

Partner Portal
About ThinkMarkets
 
Sponsorships

Check out our sponsorships with global institutions and athletes, built on shared values of excellence.

Learn more
About Us

Find out more about ThinkMarkets, an established, multi-award winning global broker you can trust.

Learn more
Careers

Discover a range of rewarding career possibilities across the globe

Apply now
ThinkMarkets News

Keep up to date with our latest company news and announcements

Learn more
Trading Infrastructure

When it comes to the speed we execute your trades, no expense is spared. Find out more.

Learn more
Contact Us

Our multilingual support team is here for you 24/7.

Learn more
About ThinkMarkets

Global presence, local expertise - find out what sets us apart.

Create a live account
Log in Create account

Weekly Market Outlook - 25 MAR to 29 MAR 2024

Avatar 25/03/2024
Weekly Market Outlook - 25 MAR to 29 MAR 2024 Weekly Market Outlook - 25 MAR to 29 MAR 2024
Weekly Market Outlook - 25 MAR to 29 MAR 2024 Avatar

In this article, we will try to provide an outlook for the week ahead, we will try to provide the most important news and a simple technical analysis point of view for major financial assets to understand how we may deal with different probabilities.

 

Disclaimer and warning

 

All information provided in this report is based on public information and it may be canceled or updated at any time based on changes in prices and economic events.

Any opinions, news, research, analyses, prices or other information contained on this document is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

Any decision that has been taken based on information in this report is your sole responsibility without any liability on ThinkMarkets.

Derivative products are leveraged products and can result in losses that exceed initial deposits. Please ensure you fully understand the risks and take care to manage your exposure and seek independent advice if necessary.

 

Hot news for the week



 

USD index


Looking at the price action on the daily chart of the US index, we mentioned in last week's outlook that the price could continue to rise to retest the 103.900 level, which it did last week. If buyers continue to control the market, the price might retest the 104.600 level.

Short-term view: If the price continues to trade above 104.600 it may be better to focus on buying positions or if it continues to trade below 101.948 it might be better to focus on selling positions.

 

EURUSD


As we can see on the daily chart of the EURUSD, there is still a sideways movement between 1.11402 and 1.06894, which could indicate a balance between buyers and sellers and no clear trend.

Short-term view: It may be better to wait until we find a clear trend one way or the other above 1.11402 or below 1.06894.

 

USDJPY


As we can see on the daily chart of the USDJPY, there was a bearish move after the pair bounced from below the weekly resistance level of 151.90. The pair continued to move lower, testing the 146.454 level and bouncing before reaching this level. There was a bullish move that confirmed the strength of the USD and after breaking above 150.885, it continued to test 151.90.

Short-term view: If prices break and continue to trade above 151.90, it may be better to focus on buying positions.

 

GBPUSD


As we can see on the daily chart of the GBPUSD, the pair continues to trade sideways between 1.28310 and 1.25253, and after testing 1.28310, the pair fell back below this level.

Short-term view: It may be better to take trades between these sideways levels of 1.28310 and 1.25253 with high risk and trade management in mind or wait for a clear trend above 1.28310 to buy or below 1.25253 to sell.

 

USDCHF


As we can see on the daily chart of the USDCHF, after breaking above the resistance level of 0.88853 which has become a support level, we may see a correction to test this support level before seeing more upside to test 0.91118 and 0.92380 if it continues to trade above this support level.

Short-term view: if it continues to trade above 0.88853, it might be better to focus on buying positions.

 

XAUUSD


As we can see on the daily chart of Gold, After a correction to test the level of 2147.63 as we mentioned before the buyer appeared again to move up and the price broke above 2195.25 then moved down again below that level to announce that the sideways still in act.

Short-term view: It might be better to focus on buying positions if prices keep trading above the level of 2147.63.

 

Brent


As we can see on the daily chart Brent, There was a break above 83.7 which was a weekly resistance before becoming a support. Prices moved up to 87.06 and it moved down from this level which might considered as a correction or take profit. So, it might be a retesting of the level of 83.7.

Short-term view: It might be better to focus on buying positions if prices keep trading above the level of 83.7 and rebound from this level.

 

US30


As we can see on the daily chart of the US30, after the sideways movement below the resistance level of 39303 the price moved up and broke above this level which became a support after this breakout. We saw a correction to test this 39303 support level after reaching to 39952 which became a resistance level.

Short-term view: It may be better to focus on buying positions if prices continue to trade above the 39303 support level.

 

NAS100


As we can see on the daily chart of the NAS100, there is still a sideways movement after a rebound below 18428, which could be seen as a correction after the last upward move. It could be a bearish move to retest the 17790 level.

Short-term view: It may be better to focus on buying positions when prices are above 18425 and continue to trade above it or 17790.

 

UK100



As we can see on the daily chart of the UK100, after a sideways movement between 7760 and 7250, buyers came out strongly to break above 7760, which was a good buying opportunity, as we mentioned in last week's outlook.

Short-term view: It may be better to wait for a correction around 7760 and buy after a rebound above it or above 8035 if it continues to trade above it.

 

BTCUSD


As we can see on the daily chart of the BTCUSD, there may be a correction after breaking the 69041 level, which was the highest price reached, to create a new price level at 73796.

Short-term view: It may be better to focus on buying positions above 69041 or 73796 when trading above these levels.

 

ETHUSD



As we can see on the daily chart of ETHUSD, there has been a bullish move after breaking above the weekly resistance at 2033, which has become a support, meaning that this could be a profit-taking corrective move.

Short-term view: It might be better to focus on buying positions if prices trade above 4092 and continue to trade above it.

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

Related articles:

Weekly outlook: From US inflation spikes to E...

By Alejandro Zambrano

15/04/2024

Weekly Brief: Oil Surges, Gold Hits Record, a...

By ThinkMarkets

08/04/2024

How to navigate Friday's NFP: special FX and ...

By Alejandro Zambrano

03/04/2024

Identify market movements for the week – 1 Ap...

By Mohamed Hassan

01/04/2024

RDDT soars: here are the levels to watch in c...

By Alejandro Zambrano

26/03/2024

Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Back to top