Watchlist: Ethereum, Nasdaq and Gold

Important News

  • Joe Biden announced that he prepared a $ 3 trillion infrastructure and employment package after the $ 1.9 trillion Covid-19 combat package. After the news, US treasury bonds were on the rise. Eyes on the data to be announced today at 17.00.
  • Details of Biden’s infrastructure and employment package are gradually being announced. In the infrastructure part of the package, there are investments in areas such as roads, bridges, ports, electric charging stations, 5G and green energy. In the employment plan, there are investments to strengthen social infrastructure such as education and women’s participation in the labor force.
  • The bankruptcy of an investment firm named Archegos Capital on Friday due to leveraged transactions created a shock wave in the market. Investors are trying to understand whether what happened to the firm’s founder Bill Hwang was due to his own mistakes or if there was a systematic risk that could affect everyone in the market.
  • On the Covid-19 side, new cases continue to increase in the USA. On the other hand, according to the statements, 90% of Americans will be able to get the vaccine until April 19.
  • According to the latest research in the USA, the Moderna and Pfizer vaccine provides up to 90% immunity. The use of AstraZeneca is also banned in some areas in Canada.
  • On the side, the agenda is mixed. Insufficient vaccine distribution and rising restrictions add to the tension in the market. With the increase in the number of new cases, politicians in Germany started to blame each other. The euro is weakening over the controversy.
  • On the UK side, the removal of restrictions positively affected the market. Among the strongest majors in the 1.3800 region.
  • on Monday, it was on the rise with the news that Visa would allow cryptocurrency transfers. Today it tests its 58,000 resistance.
  • On the oil side, the market stabilized with the resumption of the ship named Ever Given, which landed in the Suez Canal. It hovers between the 62.00 resistance and the 60.65 support.

Technical

XAU

Ounce gold prices continued the sales wave by breaking the gold ratio support, which was at the level of 1706 the day we passed. Under the price below 1700 psychological support, the levels of 1695 and 1685, respectively, are waiting to be tested as support. The liquidity zone level 1675 tested in the previous bearish wave is still waiting as secondary trend support. Sellers are expected to dominate in the short term and buyers in the medium term.

  • Resistors: 1706 – 1722
  • Supports: 1700 – 1685


Nasdaq

On the Nasdaq side, the price had moved to a consolidation period after testing the 13000 resistance last week. Today, it is above 38.2% fibonacci support, which is at the 12850 level. By making a return from this region, the 4H candle closing above 12910 can increase the buying momentum and the 12970 region, which is the formation resistance, can bring an increase. On the upside, 12910 – 12940 and 12970 levels are waiting as resistance levels, respectively. On the downside, the third trend support is 12850 and below, the formation support 12830 is waiting. Below the 12830 level, the 4H candlestick close could bring a drop to the golden ratio region i.e. 12750. In the short term, buyers appear to be dominant.

  • Resistors: 12910 – 12940
  • Supports: 12850 – 12840
ETH

prices gained momentum again with Bitcoin’s rise. The past day it tested the resistance zone at $ 1830, followed since mid-February. In the short term, the candle closing at 4H and above 1830 above the price can increase the buying momentum. The 1872 and 1911 resistors, respectively, await testing above. On the downside, the price may pull the price up to 1745, which is the 4H-21EMA support, again from the 1770 six candle close. Below this level is the old canal region between 1731 and 1675 levels.

  • Resistors: 1830 – 1872
  • Supports: 1790 – 1770

Disclaimer: Investment information, comments and recommendations contained herein are not within the scope of investment consultancy. The investment consultancy service is offered individually, taking into account the risk and return preferences of the individuals. The content, comments and recommendations contained herein are of a general nature, which are not in any way directive. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations. The author is not responsible for any gains or losses that may arise as a result of the investment, information, comments and recommendations contained herein.

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