Top Trade Ideas for March 26th (Analyst Picks)

👋 Good Morning!

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FEATURED TRADE IDEAS

USD/JPY

The USD/JPY is a major currency pair in the forex market, representing the exchange rate between the US dollar and the Japanese yen. It is known for its liquidity and volatility, making it popular among traders. Traders analyze the pair using technical and fundamental analysis to make trading decisions. Overall, the USD/JPY pair offers ample trading opportunities but also carries risks, requiring careful risk management.

Technical Analysis

• USD/JPY has been in an uptrend since January 16th, 2024.

• The pair is currently testing major resistance.

• If it rejects the resistance, the next potential target is the 146-145 area, which is where it will retest the uptrend line.

• On the other hand, if it breaks above the resistance, the next target could be around 159.

XAU/USD

The XAU/USD is a currency pair that represents the price of gold quoted in US dollars. This pair is popular among traders and investors who want to speculate on the price of gold without physically owning it. Traders analyze the pair using technical and fundamental analysis to make trading decisions. Overall, the XAU/USD pair offers a way to trade gold prices in the forex market, providing opportunities for profit but also carrying risks.

Technical Analysis

• Gold broke out of trendline resistance following the FOMC meeting but has since shown weakness and experienced a significant reversal.

• Gold retested the previous trendline resistance and bounced, suggesting a potential continuation of the upward trend

• The Point of Control (POC) is a significant level in volume profile analysis, representing the price level at which the highest volume of trading occurred. We bounced at POC and currently consolidating, indicating a potential move up in the coming days.

MAJOR EVENTS

MARKET OVERVIEW

Index Returns

Currencies Returns

Fear and Greed Index

THANKS FOR READING

We hope you found today’s analysis insightful and informative. Stay tuned for more updates, analysis, and watchlists from The Forex Buzz. Remember, the key to successful trading is staying informed and making informed decisions. Thank you for being a part of our community, and we look forward to bringing you more valuable content in the future. Until next time, happy trading!