Daily Market Forecast, March 26, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD

Gold and Crude Oil remain highly valued early this morning. The precious metal has put in solid gains and may attract speculators looking for a reversal lower.

USD/JPY: Speculative Sentiment near a Turning Point?

The Yen remains slightly below the 105.00 juncture versus the U.S Dollar. The vast decline in the Asian equities markets has subsided early this morning, but stocks are still in the red. However, the Yen may be nearing an important turning point regarding speculative sentiment, and some traders may start looking for a reversal based upon the belief the Yen has become too strong.

Gold: Buying Spree for Precious Metal Subsiding

Gold has made incremental gains this morning and is near 1348.00 U.S Dollars per ounce. But the buying spree for the precious metal may be slowing as the fear factor lessens. Traders with a strong sense of adventure may begin to look for selling opportunities in Gold for near-term endeavors.

GBP/USD: Pound Comfortably Perched in Known Range

The Pound remains comfortably above the 1.41 mark versus the U.S Dollar. The British currency range traded before going into the weekend but managed slight gains. U.S growth numbers will be published on Wednesday and forex traders may be positioning themselves for this data event. Until then technical charts may prove worthwhile to investigate.

Crude Oil: Vulnerable at these Heights?

U.S Crude Oil remains above 65.00 U.S Dollars, but it is near key resistance and traders may look for downside action short term. The commodity has proven vulnerable to this price level in the mid-term and speculators may not believe it has much more room to traverse higher near term.

EUR/USD: Upper Realms of Mid-Term Channel

The Euro range traded on Friday but has maintained the gains it made after the U.S Fed interest rate hike earlier in the week. The Euro is near 1.2370 and it is within the upper realms of its mid-term channel. Like the Pound, Euro traders may be eyeing the U.S growth number on Wednesday and waiting to respond.

Yaron Mazor is a senior analyst at SuperTraderTV.

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