March 30, 2020
<p><b>USD/CAD</b></p>
<p><img class="aligncenter size-large wp-image-40788" src="http://blog.tickmill.com/wp-content/uploads/2020/03/t1-4-1024x469.png" alt="" width="1024" height="469" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/t1-4-1024x469.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/t1-4-300x137.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/t1-4-768x352.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/t1-4.png 1269w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p><b>What happened previously?</b></p>
<p><span>USD liquidity issues are largely improved as Senate passes massive $2 trillion coronavirus spending bill. U.S. stock futures fell on Monday, indicating a lower start as the number of coronavirus cases and deaths continues to rise and investors brace for data in the week. USD may see a bounce as panic comes back to the market. </span></p>
<p><span> </span><b>What can we expect? </b></p>
<p><span>We are seeing price to test 1st support at 1.39139 and there’s a oversold Stochastics providing support as well. 1st support level is a confluence level of 127% Fibonacci extension and 78.6% Fibonacci retracement. </span></p>
<p> </p>
<p><b>UKOIL</b></p>
<p><img class="aligncenter size-large wp-image-40789" src="http://blog.tickmill.com/wp-content/uploads/2020/03/t2-5-1024x472.png" alt="" width="1024" height="472" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/t2-5-1024x472.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/t2-5-300x138.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/t2-5-768x354.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/t2-5.png 1279w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p><b>What happened previously?</b></p>
<p><span>Market dropped below our previous support.Prior support levels are not valid. Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus of crude. </span></p>
<p><b>What can we expect?</b></p>
<p><span>Our bullish view unchanged. We are seeing the price to retest the first support now at 22.45 and is likely to bounce from there. Stochastics are reaching a new low at -0.29 which serves as a good support for price. 1st support level happens to be where the 100% Fibonacci extension stands.</span></p>
<p> </p>
<p><b>XAUUSD</b></p>
<p><img class="aligncenter size-large wp-image-40790" src="http://blog.tickmill.com/wp-content/uploads/2020/03/t3-5-1024x493.png" alt="" width="1024" height="493" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/t3-5-1024x493.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/t3-5-300x144.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/t3-5-768x370.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/t3-5.png 1272w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p><b>What happened previously?</b></p>
<p><span>Gold went higher as stock market showed relief in the past week with a 3-day rally. But price was rejected at our 1st resistance level as panic comes back to the stock market on Monday. </span></p>
<p><b>What can we expect?</b></p>
<p><span>We remain bearish as price is retesting our 1st resistance at 1641.66 and is likely to drop further from there. Stochastics is also showing some bearish momentum for a drop to happen. The 1st resistance happens to be where 76.4% Fibonacci retracement and 127.2% Fibonacci extension lines up well and could serve as a key resistance level. </span></p>
<p> </p>
<p><b>XCUUSD</b></p>
<p><img class="aligncenter size-large wp-image-40791" src="http://blog.tickmill.com/wp-content/uploads/2020/03/t4-5-1024x472.png" alt="" width="1024" height="472" srcset="https://blog.tickmill.com/wp-content/uploads/2020/03/t4-5-1024x472.png 1024w, https://blog.tickmill.com/wp-content/uploads/2020/03/t4-5-300x138.png 300w, https://blog.tickmill.com/wp-content/uploads/2020/03/t4-5-768x354.png 768w, https://blog.tickmill.com/wp-content/uploads/2020/03/t4-5.png 1263w" sizes="(max-width: 1024px) 100vw, 1024px" /></p>
<p><b>What happened previously?</b></p>
<p><span>Stock market opened lower on Monday showing unstable sentiment upon the rising number of confirmed coronavirus. But HSI is trying to pare some of the losses on Monday morning, bringing some hope that the market turmoil is near a near-term end. </span></p>
<p><b>What can we expect?</b></p>
<p><span>Our bullish view unchanged. We are seeing the price to bounce further from the 1st support at 2.12838, which happens to be where the 50% Fibonacci retracement and the ascending trendline intersect. </span></p>
<p>The post <a rel="nofollow" href="https://blog.tickmill.com/tech-analysis/march-30-2020/">March 30, 2020</a> appeared first on <a rel="nofollow" href="https://blog.tickmill.com">Tickmill</a>.</p>