U.S.: Consumer sentiment has improved sharply:
- US, University of Michigan: March, final Consumer Sentiment Index 84.9 vs. prelim 83.0 / forecast 83.6 / and pre. 76.8, the best result since March 2020, but it's still far from pre-survey levels;
- Assessment of current economic conditions 93.0 vs. prelim 91.5 / forecast / and pre. 86.2, the highest since March 2020;
- 6-month consumer expectations of 79.7 vs. prelim/projection 77.5 and forecast 70.7 - also at highs since March 2020;
- 1-year inflation expectations 3.1% vs. 3.1% forecast and pre. 3.3% in February, 3.0% in January, and 2.5% in December - the indicator has begun to stabilize after rising for several months;
- 5-10-year inflation expectations 2.8% vs. 2.7% and 2.7%.
USD/JPY, 30 min
Pivot: 109.53
Analysis:
Provided that the currency pair is traded below 109.80, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 109.53
- Take Profit 1: 109.30
- Take Profit 2: 109.10
Alternative scenario:
In case of breakout of the level 109.80, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 109.80
- Take Profit 1: 110.00
- Take Profit 2: 110.20
Comment:
Technically RSI shows the possibility of a downtrend during the day.
Key levels:
Resistance Support
110.20 109.30
110.00 109.10
109.80 108.95
USD/JPY, D1
Pivot: 109.78
Analysis:
While the price is above 108.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 109.78
- Take Profit 1: 111.35
- Take Profit 2: 112.20
Alternative scenario:
If the level 108.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 108.00
- Take Profit 1: 107.00
- Take Profit 2: 106.10
Comment:
RSI shows a medium-term uptrend.
Key levels:
Resistance Support
113.00 108.00
112.20 107.00
111.35 106.10
BTC/USD Forecast Fundamental Analysis | Bitcoin / US Dollar
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