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Euro Strengthens Against Dollar as ECB Signals Confidence in Economic Recovery

By Research Team Tuesday, Apr 23, 2024
EUR/USD

    • 11:30AMD1
    • High1.0655
    • Low1.0623
    • Close1.0653

EUR/USD is trading at 1.0653, 0.03% down since previous day close. EUR/USD Traded into the 1.0655 to 1.0623 range on Monday. Today, the EUR/USD pair edged higher, buoyed by optimism surrounding the European economic recovery. Positive economic data releases, including strong manufacturing PMI figures and improving consumer sentiment, contributed to the euro’s strength against the US dollar. Technically this pair have strong support at 1.0623 to 1.0600 and resistance 1.0689 to 1.0728. RSI of this pair is little bit above from oversold may spend some time here if break any side we can see the move.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0689
R2 1.0728
R1 1.0856
Turnaround 1.0568
S1 1.0623
S2 1.06
S3 1.0578
By Research Team Tuesday, Apr 23, 2024
US100

    • 11.35amD1
    • High17313
    • Low17014
    • Close17190

US100 is trading at 17190, 1.03% down since previous day close. the Nasdaq 100, represented by the US 100 index, soared to record peaks as tech stocks rallied. Positive earnings reports and robust economic data buoyed investor sentiment, outweighing worries about inflation. Notably, strong performances from major tech companies contributed to the index’s upward trajectory. Despite lingering concerns about rising prices and potential interest rate adjustments, market optimism remained high. Investors closely monitored corporate earnings and economic indicators for insights into future market trends amidst the backdrop of a volatile trading environment.

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Daily Outlook

US100

Intra Day
Near Day

Technical Levels

R3 17800
R2 17620
R1 17350
Turnaround 17450
S1 17020
S2 16800
S3 16600
By Research Team Tuesday, Apr 23, 2024
GOLD

    • 11.40amD1
    • High2386.49
    • Low2324.7
    • Close2333.7

XAU/USD is trading at 2303, 2.71% down since the previous day’s close. Gold/USD experienced a marginal decline as market sentiment tilted towards riskier assets. The slight dip in gold prices was attributed to renewed investor appetite for higher-yielding assets amid positive economic data and corporate earnings reports. However, geopolitical uncertainties and inflationary concerns continued to provide underlying support for gold, limiting the extent of its decrease. Traders remained cautious, closely monitoring developments in global markets for any shifts in sentiment that could impact the precious metal’s price trajectory. Overall, while gold saw a minor setback

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2394
R2 2389
R1 2380
Turnaround 2346.77
S1 2300
S2 2290
S3 2286
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