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EURUSD Daily Chart
A picture is worth a thousand words…
1.16500 represents an important resistence – if holds , next move will be sharply down.
However, if taken out of the picture 1.16750 might stop the run short, but in such a case we can expect forming of the bottom and slowly starting Up trend.
For that scenario to develops , not only that it is necessary to go through 1.16500, but Support at 1.15150 must hold.
Close tonight above 1.15650 would be very Bullish.
US EQUITY OPEN: Stocks rally and oil tumbles as Trump halts attacks on key Iran infrastructure following talks with Iran
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US EQUITY OPEN: Stocks rally and oil tumbles as Trump halts attacks on key Iran infrastructure following talks with Iran
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Given the history of US-Iran talks, you can’t blame some who are skeptical but for now there are relief rallies…. “if they carry through”
FX option expiries for 23 March 10am New York cut
EUR/USD at the 1.1600 mark but it likely won’t factor much into play. That as the broader market sentiment right now is more focused on inflation fears as the Middle East conflict looks set to drag on further.
US president Trump delivered a 48-hour ultimatum to Iran, calling for the reopening of the Strait of Hormuz. That deadline will end later today but so far, Iran has not shown any signs of relenting.
European session : Big swings as Trump delays strikes, Iran denies talks
WTI crude oil down 5% to $92.97 currently, after falling from $100 to $84 on the headlines
US 10-year Treasury yields down 1 bps to 4.38% currently, after falling from 4.44% to 4.31%
S&P 500 futures rebound strongly to be up 1.3% on the day, was as low as down 1% earlier
European stocks turn losses to gains, DAX down 2% at the start of the day but is now up 1.1%
EUR/USD moves up from 1.1490 to 1.1615 before falling back to 1.1560 now
AUD/USD jumps from 0.6920 to 0.7045 before falling back to 0.6985 now
Gold jumps from low of $4,100 to $4,383 but still down 2% on the day
Newsquawk Daily US Opening News – 23rd March 2026
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XAUUSD (GOLD) UPDATE
- Weren’t we talking about 5000 just a few days ago?
- Hit an air pocket with a freefall, crashing through key 4402 support to a low at 4099 before a bounce back above 4200.
- Given the volatility, pivotal round numbers such as 4000, 4200 and 4500 increase in importance
- On the downside, it needs to hold back above 4200 to avoid exposing 4000, a level that no one on the shattered bull side wants to see broken.
- On the upside, 4402+ is needed to put 4500 back in play.
XAUUSD DAILYCHART
Forex Market Snapshot
- Global markets have little choice but to start the week in a risk off mood given President trump’s threat to attack Iran’s power plants unless it agrees to open the Strait of Hormuz and Iran’s threat to retaliate.
- This has seen the USD firm, US stocks fall, Gold plunge, bond yields rise and crude oil firm.’
- Ub forex, the AUD is weakest, followed by the NZD and EURUSD dipping back below 1.15, JPO is weaker byu lagging (USDJPY still below 160).
- With the 48 hour deadline ending today it is a wait-and-see, headline watching day to see if President Trump carries through on his threat.
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