Daily market review – March 21st 2017

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Yesterday, the trading in New York closed with a mixed trend.
The S&P 500 was down by 0.2%, while the Dow Jones and the Nasdaq closed unchanged.
Chicago Fed President Charles Evans gave a hawkish speech and supported a higher pace of interest rate hikes.
This week, a series of senior Fed executives will speak, which may affect the direction of the markets.

The stock exchange in Tokyo is trading with a slight decline, as yesterday’s it was closing for a local holiday.
The Japanese yen gained about 1% against the US dollar in the last day, which weighs heavily on the Tokyo stock exchange and on export stocks such as Honda, Sony and Toshiba.

Trading Opportunity
GBP/USD

gbp.usd 1h 21.3.17

On an hour chart, the pair broke below a diagonal support line, and it can be an opportunity to look for a change of direction.
The pair is re-testing the diagonal line, and if it will be strong enough to hold the pair from going up again, the tendency should be for a decline.
The resistance level is around 1.2400.

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