Abstract:Tech Stocks Under Pressure, Inflation Data Looms
DAILY MARKET NEWSLETTER | February 29, 2024
Market Overview
US stocks edge lower ahead of inflation data release.
Tech and healthcare stocks drag markets down.
Euro weakens against the dollar (EUR/USD down to 1.0835).
Bitcoin breaks $60,000 mark, fuels Microstrategy surge.
Key Market Movements
Dow Jones: -0.06%
S&P 500: -0.17%
Nasdaq 100: -0.54%
WTI Crude Oil: -0.61%
Gold: + $3
Bitcoin: +9% (briefly hit $64,000)
Directional Views from Trading Central
Here are key currency pairs and the Dow Jones index to watch, with analysis and potential strategies from Trading Central's research team:
GBP/USD: Rebound continues. Look to buy above 1.2640, target 1.2680 & 1.2695.
USD/JPY: Watch for break below 150.35, could trigger drop. Short below 150.70
EUR/USD: Upside trend. Consider buying above 1.0815, target 1.0850 & 1.0865
Dow Jones (CME): Resistance at 39030.00. Potential short positions below 39030
Important Notes:
Market Volatility: Prices and key levels are subject to change. Use these views as a starting point for your own research.
Explore More: The provided links offer deeper analysis and charts from Trading Central.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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