Forex Weekly Forecast with Technical Analysis on 10th March '24

Here's a Quick Look at the Insights You'll Discover…

Dollar Index (DXY) Dynamics:

Nikkhil begins with an analysis of the Dollar Index, where a fascinating narrative unfolds in its weekly and long-term charts. Observing a sequence of highs and higher highs within a rising parallel channel, he detects a softening in the bullish momentum, evidenced by a bearish divergence in the MACD histogram. This suggests a slowing in the dollar's ascendancy, hinting at a forthcoming correction. As Nikkhil weaves through wave analysis, the completion of a five-wave bullish structure, paired with bearish divergence, foretells a downturn. This revelation, when coupled with Fibonacci retracement and extension analyses, pinpoints a high probability for a downward continuation towards a specific target. The market whispers of opportunities to sell on pullbacks, inviting you to explore the subtle shifts in the dollar's direction. 

Dollar index technical analysis on Mar 10th '24

EUR/GBP: Catalyst for Growth

Transitioning to EUR/GBP, a weekly timeframe paints a picture of persistent bearishness. A succession of lower highs and a significant break below a psychological level shows a path of descent, with Fibonacci extensions forecasting a specific bearish target. This scenario, replicated across daily and four-hourly charts, reinforces the bearish momentum, presenting a strategic perspective for trades. As Nikkhil uncover this pattern, the dialogue between price action and indicators beckons you to engage with this bearish trend, offering a roadmap to navigate through the market's ebbs and flows. 

EUR/GBP technical analysis on 10th Mar '24

GBP/USD: Bullish Beacon

Amidst the Dollar Index's bearish forecast, the GBD/USD emerges as a beacon of bullish potential. NIkkhil’s analysis, spanning from weekly to hourly charts, highlights a symphony of bullish cycles, supported by Fibonacci extensions and devoid of bearish indicators. This confluence of bullish signals, especially against a weakening dollar, illuminates opportunities to buy on dips, projecting an upward trajectory towards a notable target. The narrative invites you to capitalise on this momentum, guiding you towards strategic entry points for potential gains. 

GBP/USD technical analysis on 10th Mar'24

NZD/CAD: A Catalyst for Growth

Nikkhil’s forecast extends to the New Zealand dollar, revealing a bullish outlook that transcends timeframes. From weekly to hourly insights, each layer of analysis adds to a compelling case for upward movement, spotlighting specific targets. The interplay between bullish divergences, Fibonacci extensions, and price action patterns weaves a narrative of growth and opportunity. This analysis invites you to anticipate and engage with pullbacks as openings to participate in the bullish trend, setting the stage for informed trading decisions. 

NSD/CAD technical analysis on 10th Mar '24

Gleaming Gold: A Bright Future

Gold, in its majestic stance, commands attention with a bullish forecast that shines brightly across timeframes. From the three-monthly down to the daily charts, every indicator aligns, predicting a climb to specific, higher targets. The analysis not only uncovers potential buy levels but also sets the stage for an anticipatory approach to dips in price, highlighting the golden opportunities that lie ahead. This segment of our newsletter not only educates but also inspires action, urging you to harness the bullish momentum of gold for your portfolio.

XAUUSD technical analysis on 10th Mar '24

Each segment of Nikkhil’s Forex Forecast is crafted not just to inform but to inspire action. By providing a strategic lens through which to view the Forex market, he aims to empower you with the knowledge to make knowledgeable decisions. 

Each week, we invite you to reflect on the opportunities presented, engage with Nikkhil's detailed analyses, consider the strategic entry points, and prepare to navigate the markets with confidence.

Click Here To Watch The Full Weekly Forex Forecast

Wishing you a profitable trading week ahead!

We’ll talk soon!