Daily Markets

• Most Asian currencies ticked lower on Friday, set for weekly declines, as the U.S. dollar firmed amid more tariff threats from U.S. President Donald Trump, while the Chinese yuan edged up after the central bank pledged fresh stimulus measures to boost economic growth. The US Dollar Index rose 0.1% in Asian trading, drifting further away from a four-month low it reached last week. China’s central bank, the People’s Bank of China (PBoC), announced plans on Thursday to implement additional monetary tools aimed at stimulating growth. These measures include potential interest rate cuts and maintaining the stability of the yuan amid a challenging global economic environment. Trump escalated trade tensions on Thursday, threatening a 200% tariff on European alcoholic beverages, such as wines and champagnes, if the EU moves forward with its planned 50% tariff on American whiskey. The EU’s decision, set to take effect on April 1, comes in retaliation to the U.S.’s newly implemented 25% tariffs on imported steel and aluminum. Moreover, Trump is set to impose reciprocal tariffs all over the globe on April 2, which could further sour investor mood. Globally, the key focus will be on the Federal Reserve’s Federal Open Market Committee (FOMC) meeting on March 18-19. The Fed is widely expected to hold rates steady next week amid tariff concerns. In Asia, the Bank of Japan is expected to leave rates unchanged on Wednesday. China’s data barrage is due on Monday, including retail sales, industrial output, and trade balance data. China’s loan prime rates will be released on Thursday. Taiwan’s central bank is set to hold its quarterly monetary policy meeting on Thursday.

Gold – XAU

Gold on Thursday its intraday high of US$2988.94/oz and low of $2932.87/oz. Gold is up by 1.872% at US$2988.46/oz.

Technicals in Focus:

On the daily charts, gold trades higher than 20DMA (2197). If it drops below this level, it could lead to 2,100. The MACD is currently above the zero line and the histograms are showing an increasing trend, indicating that there may be upward movement in the coming sessions. The RSI is currently at 83.04, which is in the overbought region, suggesting there may be selling pressure in the next 2 to 3 sessions. The Stochastic Oscillator is also in the overbought territory but has given a positive crossover, indicating a bullish stance for intraday trades, but rebound in expected in all the overbought indicators.

Trading Strategy: Sell on Strength

Sell below 2,990-3031 keeping stop loss closing above 3031, targeting 2,970-2960-2245 and 2930-2918-2900. Buy in between 2970-2900 with risk below 2789 targeting 2990-3000 and 3012-3030.

Silver - XAG

Silver on Thursday its intraday high of US$32.93/oz and low of US$33.81/oz settle up by 1.88% at US$33.87/oz.

Technicals in Focus:

On daily charts, silver is sustaining above 20MA (25.05), breakage above will lead to 23.73. MACD is below the zero line and histograms are increasing trend, bringing a bullish stance in the upcoming sessions. RSI is in the oversold region, indicating a sell signal for now. The Stochastic Oscillator is in the overbought region and gives a positive crossover to show an upside move for the intraday trade.

Trading Strategy: Buy on Dips

Buy in between 33.50-31.10, targeting 33.80-34.20-34.45 and 34.85-35.25-35.50-36.00 with stop loss should be placed on the breakage below 31.00. Sell in between 33.80-36.00 with a stop loss above 36.00 targeting 33.50-33.10-32.60 and 32.10-31.60-30.90.

Oil - WTI

Crude Oil on Thursday intra‐day high of US$67.64/bbl, an intraday low of US$66.08/bbl, and settled down by 1.301% to close at US$66.50/bbl.

Technicals in Focus:

On daily charts, oil is sustaining above its 100DMA i.e. 75.37, a support level, and breakage above will call for 77.48. MACD is above the zero line and histograms are in increasing mode will bring a bullish stance in the upcoming sessions. The Stochastic Oscillator is in the overbought region, giving a negative crossover to confirm a bearish stance; while the RSI is in the neutral region, more upside can be expected to reach the overbought region, which is highly probable.

Trading Strategy: Neutral to Sell

Sell in between 67.00-74.85 with stop loss at 75.00; targeting 65.60-65.00-64.50 and 63.90-63.10. Buy above 66.50-63.05 with risk daily closing below 63.00, targeting 66.00-66.55-67.00 and 67.90-68.55-69.00.

EUR/USD

EUR/USD on Thursday an intraday low of US$1.0821/EUR, a high of US$1.0896/EUR, and settled the day down by 0.305% to close at US$1.0849/EUR.

Technicals in Focus:

On daily charts, prices are sustaining above 100DMA (1.0800), which becomes immediate support, a break below will target 1.0717. MACD is above the zero line and histograms are increasing mode, bringing a bullish view. Stochastic is in oversold territory, giving negative crossovers to the bullish outlook for intraday. 14D RSI is currently in a neutral region and giving no directions to consider right now.

Trading Strategy: Neutral to Sell

Sell below 1.0890-1.1035, targeting 1.0800-1.0725-1.0650 and 1.0600-1.0540-1.0490 with stop-loss at daily closing above 1.1035. Buy above 1.0850-1.0490 with risk below 1.0490 targeting 1.0850-1.0890-1.0935 and 1.0990-1.1035.

GBP/USD

GBP/USD on Thursday low of US$1.2920/GBP, a high of US$1.2972/GBP, and settled the day up 0.109% to close at US$1.2946/GBP.

Technicals in Focus:

On daily charts, prices are sustaining above 50DMA (1.2674) is becoming a support level. 14-D RSI is currently in a neutral region and direction is difficult to predict on an RSI basis. The Stochastic Oscillator is in oversold territory and gives a positive crossover to confirm a bullish stance. MACD is above the zero line, but histograms are increasing leading to movement.

Trading Strategy: Neutral to Buy

Based on the charts and explanations above; buy in between 1.2920-1.2380 with a target of 1.2920-1.2960-1.2990 and 1.3040-1.0390-1.3140 with a stop loss closing below 1.2380. Sell in between 1.2960-1.3140 with targets at 1.2920-1.2850-1.2790-1.2753 and 1.2660-1.2590-1.2510 with a stop loss of 1.3140.

USD/JPY

USD/JPY on Thursday an intra‐day low of JPY147.40/USD an intraday high of 148.36/USD, and settled the day down by 0.376% at JPY147.64/USD.

Technicals in Focus:

In daily charts, JPY is sustaining above 100DMA (155.35), major support on the daily chart. 14-D RSI is currently in the overbought region and chances of downward are expected based on RSI. MACD is above the zero line but histograms are in decreasing mode which might lead to downward movement. The Stochastic Oscillator is in overbought territory and signaling to sell as it has given a negative crossover to confirm a bearish stance.

Trading Strategy: Neutral to Sell

Sell below 148.60-159.50 with risk above 160.00 targeting 148.00-147.10-146.50 and 146.00-145.20-144.50. Long positions above 148.10-143.50 with targets of 148.00-148.60-149.00 and 150.00-150.60-151.10 with stops below 143.00.