Weekly Overview

US Dollar Index

The US dollar index is trading in a general downward trend, and declined in the past week by about 1.70%, to touch the level of 101.555
As we can see in the chart below on the four-hour chart, we will not witness a closing of the highest level of 102.980, which indicates maintaining the negative frame, and if the dollar index peaked at the highest level of 102.980, this indicates more corrective rise to 104.040.
In the current scenario, the target is at the previous bottom at the level of 101.765, and the scenario is canceled if the top of the highest level is recorded at 102.980.
The negative scenario in the medium term is somewhat weak due to the rapid upward rebound after touching an important support area at 101.765 & 101.365 levels

Gold

There is nothing new for gold after recording a bottom of the lowest level of 1967.66, the trend changed from bullish to bearish, and the rise was corrective only, the target is still at the level of 1935.13, and the scenario remains valid until recording the top of the highest level of 2010
Note: Gold touched the 2000 level twice in its history, and it was the result of the Russia-Ukraine war and the fears of a global economic collapse, which once again proved gold as the first safe haven in the financial markets

Crude Oil

Crude oil rose by about 11.40% after touching its lowest level in more than a year, to breach the level of 69.64 and record its highest peak, which indicates a change in the trend from bearish to upward, and a retreat to the level of 65.50 represents a buying opportunity for crude oil, and the target is at the level of 70.50
The mentioned scenario is canceled if the level of 71.48 is breached

Euro against US Dollar

After the euro against the dollar pair touched the resistance area located at the levels of 1.08817 and 1.09416, it rebounded in a (V) shape, which indicates a significant change in liquidity from buying to selling, and breaching the level of 1.07554 confirms the change in the direction on the four-hour chart from bullish to bearish.
The corrective rise to 1.08832 represents a selling opportunity for the euro, and the negative scenario remains based on maintaining the 1.09291 level and not recording a top above it

The most important economic data and news for this week

Tuesday 28 March

Sterling Pound: Speech by Bank of England Chairman Andrew Bailey
US Dollar: Consumer Confidence Index

Wednesday 29 March

Australian dollar: consumer price index

Thursday 30 March 

Eurozone: German CPI
US dollar: Gross Domestic Product
Unemployment claims 

Friday 31 March 

Canadian dollar: GDP
US dollar: personal consumption expenditures index