Mar 8th Daily Analysis
Mar 8th Daily Analysis
EURGBP
Technical analysis:
The overall trend for EURGBP shows that price is in a bearish direction. We could clearly see that price is retesting the support zone between 0.83171 and 0.83021 which is in confluence with the 50 EMA and the FIBO retracement levels. The RSI and MACD are below the centreline which indicates a possible price continuation.
CN50USD
Technical analysis:
From the overview of price we could see that the overall trend is bearish. Price seems to have gotten to the next major resistance zone between 13628 and 13463 and there could be a possible reversal or pullback to the support zone. We could also see that the RSI is already oversold and confirms a possible reversal.
NATURALGAS
London’s FTSE 100 edged higher on Tuesday, aided by strong gains in energy stocks as oil prices jumped after Britain and the United States announced Russian crude import bans, while insurer and asset manager M&G was the top index gainer on a share buyback programme.
Technical analysis:
From the overview of price in UK100, we could see that price has been making higher highs in the 4h timeframe and has retested the support zone between 7013 and 6968. We should anticipate price to get the major resistance zone between 7227 and 7178 which has confluences with the 50 EMA and FIBO retracement levels. before making reversal to the downside.