Daily market review – March 21st 2017


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 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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