Global macro overview for 24/03/2017
March 24, 2017 9:01 amVideo
Latest News
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
Global macro overview for 24/03/2017:
The main political and economic issue is the future of the Obamacare health program. During the presidential campaign, Trump promised to change the current health system in the US that is not working very well in his opinion. The voting should have taken place yesterday, but the Republican Party did not find enough support to dismiss Obamacare. As a result, voting in the House of Representatives has not taken place yet. Trump puts the ultimatum and tends to vote on Friday. He warns that either the Republicans will support the bill in its current form, or Obamacare will continue to function like it is now. The most important conclusion from this whole situation is the fact that the President is struggling to push his bill has raised doubts over whether he can win support for his pro-growth economic policy measures.
Let’s now take a look at the SPY (SP500 ETF) technical picture at the H4 time frame. The series of higher highs and higher lows had been terminated at the level of 240.22 and since then now lows has been made. The technical resistance at the level of 235.32 is the key resistance now as any break out above it will open the road to test the recent swing high. On the other hand, if the Healthcare Bill will not pass today, then the market might extend the drop towards the next technical support at the level of 229.80.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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