{"id":3461,"date":"2021-03-02T06:20:34","date_gmt":"2021-03-02T06:20:34","guid":{"rendered":"https:\/\/blog.sevenstarfx.com\/?p=3461"},"modified":"2021-03-02T06:23:13","modified_gmt":"2021-03-02T06:23:13","slug":"daily-market-outlook-01-march-2021","status":"publish","type":"post","link":"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-01-march-2021\/","title":{"rendered":"Daily Market Outlook, 01 March, 2021"},"content":{"rendered":"

Market Wrap: Stocks, Bonds, Commodities<\/strong><\/span><\/h3>\n

EUR\/USD Intraday:<\/span> Break support levels<\/strong><\/h3>\n

Our pivot point is at 1.21000<\/strong><\/p>\n

Preferable Price Action<\/strong>: Take Short positions below pivot level with targets at 1.20520 & 1.20280 in extension.<\/p>\n

Alternative Price Action<\/strong>: Above pivot looks for further upside at 1.21500 & 1.21720.<\/p>\n

Comment: <\/strong>Pair below its 20MA & 55MA and RSI below 50 levels.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

GBP\/USD Intraday: <\/span>Resistance at 1.40140<\/strong><\/h3>\n

Our pivot point is at 1.40140<\/strong><\/p>\n

Preferable Price Action<\/strong>: Sell positions below pivot with targets at 1.39250 & 1.38850 in extension.<\/p>\n

Alternative Price Action<\/strong>: The price above pivot would call for further upside to 1.41040 & 1.41460.<\/p>\n

Comment<\/strong>: Price below its 55MA and RSI at 50 levels.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

USD\/JPY Intraday:<\/span> Support at 106.460<\/strong><\/h3>\n

Our pivot point is at 106.460<\/strong><\/p>\n

Preferable Price\u00a0<\/strong>Action: <\/strong>Buy position above with the target at 106.860 and 107.100 in extension.<\/p>\n

Alternative Price Action<\/strong>: The downside breakout of pivot would call for 106.070 and 105.810.<\/p>\n

Comment<\/strong>: price above 20MA & 55MA and MACD in positive territory.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Re<\/span>sistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support <\/span>Levels\u00a0<\/span><\/p>\n

Light Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

AUD\/USD Intraday:<\/span> Trend on the downside<\/h3>\n

Our pivot point is at 0.77900<\/strong><\/p>\n

Preferable Price Action<\/strong>:<\/del> Sell Positions below pivot with targets at 0.77250 & 0.76940 in extension.<\/p>\n

Alternative Price Action<\/strong>: Above pivot looks for further upside with 0.78550 & 0.78850 as targets.<\/p>\n

Comment<\/strong>: Pair below its 20MA & 55MA an RSI at oversold levels.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

CRUDEOIL Intraday: <\/span>Bias on the upside\u00a0<\/strong><\/h3>\n

Our pivot point is at 62.05<\/strong><\/h4>\n

Preferable Price Action<\/strong>: Above pivots buy Oil with 63.00 & 63.60 as targets.<\/p>\n

Alternative Price Action<\/strong>: Sell crude below pivot with targets at 61.10 and 60.50 in extension.<\/p>\n

Comment<\/strong>: Crude above its 20MA & 55MA\u00a0 and MACD in negative territory.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

XAU\/USD Intraday:<\/span> Bias on the upside<\/strong><\/h3>\n

Our pivot point is at 1746.70<\/strong><\/p>\n

Preferable Price Action<\/strong>: Further upside to 1763.00 & 1772.00.<\/p>\n

Alternative Price Action<\/strong>: If the price gives a downside breakout of a pivot, then the price extends to 1731.00 and 1722.00.<\/p>\n

Comment<\/strong>: MACD in positive territory and price above 20MA & 55MA.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span>\u00a0\u00a0\u00a0\u2013 Black represents the price when the report was produced<\/p>\n

\n

Dow Jones Intraday:<\/span><\/span> Support at 31,130.00<\/h3>\n

Our pivot point is 31,130.00<\/strong><\/p>\n

Preferable Price Action<\/strong>: Take buy positions above pivot with targets at 31,430.00 & 31,600.00.<\/p>\n

Alternative Price Action<\/strong>: Below 31,130.00 looks for further downside to 30,840.00 & 30,680.00.<\/p>\n

Comment<\/strong>: Price above its 55MA & 20MA and RSI above 50 levels.<\/p>\n

\"\"<\/p>\n

Green Lines Indicate Resistance Levels<\/span>\u00a0\u00a0\u2013\u00a0Red Lines Indicates Support Levels\u00a0<\/span>
\nLight Blue is a Pivot Point<\/span> \u00a0\u00a0\u2013 Black represents the price when the report was produced7<\/p>\n","protected":false},"excerpt":{"rendered":"

Market Wrap: Stocks, Bonds, Commodities EUR\/USD Intraday: Break support levels Our pivot point is at 1.21000 Preferable Price Action: Take Short positions below pivot level with targets at 1.20520 &… <\/p>\n","protected":false},"author":2,"featured_media":3471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[17,102,8,10,21,3,53,33,85,72,50,101],"yoast_head":"\nDaily Market Outlook, 01 March, 2021 | Seven Star FX<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sevenstarfx.com\/blog\/daily-market-outlook-01-march-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Market Outlook, 01 March, 2021 | Seven Star FX\" \/>\n<meta property=\"og:description\" content=\"Market Wrap: 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