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Welcome to your in-depth weekly market forecast for the trading week beginning 10th March. Last week, the markets reacted sharply to the NFP report, which showed just 151,000 new jobs, placing additional pressure on the US Dollar (DXY). Nikkhil’s analysis last week pointed to a continuation lower if the dollar failed to break the falling trendline resistance, and that’s exactly what played out.
This week, inflation data from the US and the Bank of Canada's monetary policy decisions will be the driving forces behind major market moves. This forecast breaks down the best tradable opportunities for the week across DXY, EURCAD, GBPNZD, Hang Seng Index, XAGUSD (Silver), and Copper. Read on for the key insights and setups that could shape the markets this week.
DXY (US Dollar Index)
The weekly chart confirms ongoing bearish pressure on the dollar, with sellers maintaining full control and no bullish divergence to indicate a reversal. The daily timeframe continues to show a clear pattern of lower highs and lower lows, reinforcing the weakness. However, on the 4-hour chart, we’re beginning to see signs of short-term exhaustion from sellers, with Bollinger Bands revealing a potential corrective pullback. This suggests that the dollar may temporarily rise towards 105.8, where the falling trendline resistance lies, before resuming its downward momentum.
Click to discover the key dollar resistance zone that could spark a major reversal
EURCAD
EURCAD remains firmly in a bullish uptrend on the monthly chart, with no signs of exhaustion. The price recently stalled at the 1.618 Fibonacci extension level, which often acts as a temporary resistance zone where momentum slows. However, with MACD histogram and lines continuing to rise, the overall trend remains intact. On the 4-hour and 1-hour timeframes, we see a minor pullback setting up, offering a prime opportunity to buy into strength at more favourable levels. The ideal buy zone sits around 1.5265, with the next upside targets at 1.5949 and 1.5657—a potential 390-pip move.
GBPNZD
GBPNZD continues to show strong bullish momentum, with the weekly and daily charts displaying an intact uptrend and no significant bearish signals. However, a potential bearish divergence is forming on the 4-hour timeframe, hinting at a short-term correction before the next leg higher. The 1-hour chart is already showing exhaustion from buyers, increasing the likelihood of a temporary pullback. Waiting for a dip to around 2.24 could offer an ideal entry, with a medium-term upside target at 2.30.
Hang Seng Index
The Hang Seng Index (HSI) has been in an impressive bull run, and buyers have maintained strong momentum. However, the price is now approaching a key resistance zone at 25,500 - 25,700, where a reaction is highly likely. The daily timeframe suggests that while the broader trend remains bullish, we could see a short-term pullback before another attempt to break through this level. If a correction occurs, 22,800 - 22,750 will be the zone to watch for potential re-entries.
XAGUSD (Silver)
Silver continues to hold above strong long-term support on the monthly chart, reinforcing its bullish outlook. The daily timeframe confirms a bullish breakout, with MACD turning higher after a successful trendline break and pullback retest. Short-term corrections remain likely, but any dips into 32.3 should be viewed as fresh buying opportunities. The medium-term upside targets remain at 38.4 - 39, with potential for further gains in the longer term.
Copper
Copper has replaced gold in this week’s analysis, and for good reason. The monthly and weekly charts show a strong long-term uptrend, with price targeting 5.6 - 5.9. The daily timeframe suggests that buyers remain in control, but a short-term correction towards 4.62 could provide a better entry point. The 4-hour and 1-hour charts show that any pullback should be seen as a buying opportunity, with immediate targets set at 4.91 and 5.45, and a long-term goal near 5.9 - 6.
This week’s market outlook presents some of the most exciting trade opportunities of the month, driven by key economic events. Inflation data from the US and the Bank of Canada’s monetary policy decisions will be the primary catalysts, setting up major price moves.
The key to success this week is timing your entries correctly. With inflation data and central bank actions coming up, volatility will create incredible opportunities—but only for those who stay ahead of the market.
Wishing you a profitable week ahead,
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Team Moneytize
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