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Morning market review - Friday, March 20, 2026

Technical analysis of 12 instruments with options data

Kacper MrukMarch 20, 2026Updated: March 20, 20261 min read
Morning market review - Friday, March 20, 2026

The morning on the markets brings exceptionally pessimistic sentiments, as reflected by the Fear & Greed Index, which has reached a level of 17, indicating extreme fear among investors. In light of the Fed's maintained interest rate in the range of 3.50-3.75 and the upcoming FOMC meeting scheduled for April 29, the markets remain under pressure. In today's review, we will look at twelve analyzed instruments that may indicate further directions in challenging market conditions.

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Bitcoin - Daily Chart (D1)

Bitcoin - Daily Chart (D1)

On the daily chart, Bitcoin shows signs of a possible trend reversal after a long period of declines. The price has bounced off the level of 65,000 USD, which may suggest potential support. An important resistance level is around 75,000 USD, which may be difficult to break without a strong bullish impulse. Currently, the RSI is approaching the neutral level, which may indicate consolidation before a potential upward move.

Bitcoin - 4H Chart

Bitcoin - 4H Chart

On the 4-hour chart, Bitcoin is in a consolidation phase, with clear support around 69,000 USD and resistance in the area of 72,000 USD. We are observing local increases in volume, which may suggest preparations for a larger move. A breakout above 72,000 USD could open the way for further increases, while a drop below 69,000 USD could indicate a return to the downtrend.

Bitcoin - 1H Chart

Bitcoin - 1H Chart

On the hourly chart, Bitcoin is oscillating around the level of 70,500 USD, with a slight increase in volume. We can observe the formation of a symmetrical triangle pattern, which usually heralds upcoming volatility. A breakout in either direction could define the short-term price direction. Monitoring the levels of 70,000 USD and 71,500 USD will be crucial for understanding further movements.

Bitcoin - 15-minute chart

Bitcoin - 15-minute chart

The 15-minute chart shows that Bitcoin is in a consolidation phase with slight upward pressure. The price is moving in a narrow range between 70,200 and 70,600 USD. Rapid changes in volume may indicate the possibility of short-term movements. A breakout above 70,600 USD could initiate a short-term upward trend.

Bitcoin - Options data

Options data indicates a very bullish sentiment with a low put/call ratio of 0.09. Key levels for call options are at strikes $50, $45, and $43, suggesting expectations for increases. The maximum pain at $50 suggests that the market may aim for this level to minimize losses for option investors. High open interest on calls indicates significant activity from investors anticipating increases.

Bitcoin - Summary

Bitcoin shows signs of a potential rebound from support levels, with resistance around 75,000 USD on the daily chart. Consolidation is visible on lower timeframes, suggesting preparation for a larger move. Options data and a low put/call ratio indicate bullish expectations. Key levels to watch are 69,000 USD as support and 72,000 USD as resistance. The overall bias remains moderately bullish.

Ethereum - Daily Chart (D1)

Ethereum - Daily Chart (D1)

On the daily chart of ETHUSD, there is a continuation of the downward trend with strong resistance at the level of 2200 USD. Currently, the price has stopped around 2136 USD, suggesting a possible rebound, but without a clear bullish signal. The RSI remains in the neutral zone, and the volume does not show significant changes, indicating a lack of decisive buying activity. Key support is at the level of 2000 USD, and breaking this level may open the way for further declines.

Ethereum - 4H Chart

Ethereum - 4H Chart

On the 4-hour chart, ETHUSD price bounced off the local support level at 2100 USD but stopped below 2200 USD, which represents strong resistance. The formation of lower highs and lows suggests further weakening. Technical oscillators are approaching oversold levels, which may indicate a short-term bounce. A break above the 2150 USD level could be a signal for buyers to enter the market.

Ethereum - 1H Chart

Ethereum - 1H Chart

The hourly chart shows consolidation in a narrow range between 2130 and 2150 USD. The price is trying to gain support, but the lack of a clear direction indicates possible further fluctuations. Short-term technical indicators, such as MACD and RSI, remain neutral, which may suggest a lack of strength for a breakout. A breakthrough of the 2150 USD level will be key to attracting more attention from buyers.

Ethereum - 15-minute chart

Ethereum - 15-minute chart

On the 15-minute chart of ETHUSD, the price is moving within a narrow range, suggesting a lack of market decisiveness. The current consolidation around 2136 USD may lead to a breakout either upwards or downwards, depending on the volume. Short-term technical indicators show a slight advantage for sellers, which may lead to a test of support at the level of 2125 USD in the near future.

Ethereum - Options data

Option data suggests bullish sentiment with a Put/Call Ratio at 0.22 and key Call levels at 17 USD (+6.2% from ATM) and 18 USD (+12.5% from ATM). A large volume of open call options compared to puts indicates bullish expectations among investors. Max Pain at 16 USD suggests that the price may head in that direction, but the overall sentiment remains positive due to more open bullish positions.

Ethereum - Summary

Ethereum is showing signs of consolidation with key support at 2100 USD and resistance at 2200 USD. The options sentiment remains bullish, but the Fear & Greed index indicates extreme fear, which may limit gains. Key levels to watch are 2150 USD as support and 2200 USD as resistance. A breakout of either of these levels could set the future price direction.

Gold - Daily Chart (D1)

Gold - Daily Chart (D1)

On the daily chart, Gold XAUUSD shows a significant decline from peak levels that began at the end of February. Currently, the price hovers around 4674, indicating an attempt to rebound after a sharp drop. It is worth noting the support level around 4600, which may be crucial in the coming days. The trend is still downward, but the current rebound may suggest a temporary consolidation or upward correction.

Gold - 4H Chart

Gold - 4H Chart

On the 4-hour chart, a strong rebound from the level of around 4350 can be seen, which may indicate the formation of short-term support. However, the current upward movement is still limited by resistance around 4750. Moving averages indicate a continuation of selling pressure, but the upward momentum may be a signal for a correction upwards.

Gold - 1H Chart

Gold - 1H Chart

On the hourly chart, a trend reversal formation is visible with minimal support at the level of 4600. The price is trying to stabilize above this level, which may suggest a short-term rebound to 4750. Current momentum indicators suggest that the bullish strength may be temporary, but it is worth monitoring the situation's development.

Gold - 15-minute chart

Gold - 15-minute chart

The 15-minute chart shows a sharp rebound from around 4630. However, the increases are limited by resistance at 4700. The short-term trend is upward, but the lack of a clear direction may lead to consolidation within this price range. Monitoring support and resistance levels is crucial.

Gold - Options Data

Options data for the GLD ETF shows an extremely bullish sentiment with zero put option volume. The Put/Call ratio is 0, which is unusual and indicates a lack of interest in put options. The largest open interest is visible at call levels significantly below the current price, which may indicate expectations of further increases. Despite extreme fear in the market, the options data suggests a potential rebound.

Gold - Summary

Currently, Gold XAUUSD is in a short-term rebound with key support at 4600. The main resistances are 4700 and 4750. Despite the downward trend on the daily chart, options data indicates a strong bullish sentiment, which may support further rebound. It will be crucial to maintain support at 4600 and break through resistance at 4750.

Silver - Daily Chart (D1)

Silver - Daily Chart (D1)

On the daily chart of XAGUSD, a continuation of the downward trend is visible, with the price currently close to the level of 71.50 USD. We observe lower highs and lows confirming the downward pressure. Key support is located at the level of 70 USD, and a break of this level may open the way for further declines. Meanwhile, resistance is visible at 75 USD, where the price may encounter greater resistance. Technical indicators, such as RSI, may indicate oversold conditions, suggesting the possibility of a bullish correction.

Silver - 4H Chart

Silver - 4H Chart

On the 4-hour chart, a bounce from the support level at 71 USD is visible, but selling pressure still dominates. The level of 73 USD acts as resistance, which may be difficult to overcome in the short term. Moving averages are sloping downwards, confirming the bearish trend. A clear break below 71 USD could accelerate declines, while a return above 73 USD could alleviate selling pressure.

Silver - 1H Chart

Silver - 1H Chart

The hourly chart shows short-term consolidations around 71.50 USD. The price is moving within a narrow range, which may indicate a potential directional move. Current support is at 71 USD, and resistance is at 72 USD. A break below support could lead to further declines, while a breakout above resistance could signal a short-term rebound.

Silver - 15min Chart

Silver - 15min Chart

On the 15-minute chart of XAGUSD, a consolidation pattern can be seen, with the price oscillating around the level of 71.30 USD. Short-term resistance is at 71.50 USD, and support is at 71 USD. Indicators such as RSI are neutral, suggesting a lack of clear direction. A breakout of either of these levels could determine the next price movement.

Silver - Options data

Options on the ETF SLV indicate a very bullish sentiment, with a complete lack of volume on puts. The greatest interest is at the call levels of 80 USD, suggesting that investors expect an increase. High open interest at the levels of 65 USD and 70 USD also indicates bullish expectations. The lack of interest in put options may suggest that market pessimism is limited, even though the current price level is below many key strikes.

Silver - Summary

Analysis of XAGUSD indicates a dominance of downward pressure with key support at the 70 USD level. Short-term charts show possible consolidation before the next move. High interest in call options at the 80 USD level suggests that investors expect a corrective upward move. With the current level of fear in the market, further decline is possible if support is broken. Key levels to watch are 70 USD (support) and 75 USD (resistance).

S&P 500 - Daily chart (D1)

S&P 500 - Daily chart (D1)

On the daily chart of the S&P 500, a downward trend is visible, which began after reaching a peak around 7200 points. Currently, the index oscillates around the level of 6606, suggesting an attempt at stabilization. Technical indicators may point to a potential rebound, but there are no clear signals of a trend reversal. Key support is located around 6400 points, while resistance is in the area of 6800 points. High volume of declines may indicate selling pressure, but the emerging doji candles suggest market uncertainty.

S&P 500 - 4H Chart

S&P 500 - 4H Chart

On the 4-hour chart, a reversal formation is visible, which may suggest an upcoming rebound. The index has bounced off the level of 6570 and is currently testing resistance at 6650 points. Repeated increases in volume during the rises may indicate investor interest in buying. If the level of 6650 is broken, further movement towards 6750 points is possible.

S&P 500 - 1H Chart

S&P 500 - 1H Chart

The hourly chart shows a short-term rebound from the level of 6570. Currently, the index is testing resistance at 6600, and breaking this level may lead to further increases to 6650. The RSI and MACD indicators suggest the possibility of a continuation of the rise, but caution is advised regarding a potential pullback to support at 6550 in case of a failure to break out.

S&P 500 - 15-minute chart

S&P 500 - 15-minute chart

On the 15-minute chart, there are signs of consolidation near the level of 6600. Indicators suggest short-term strength of buyers, but the presence of local resistances may limit further increases. Key support is at the level of 6575, and resistance at 6620. A break of these levels could set the direction for the upcoming hours.

S&P 500 - Options data

Option data indicates a very bullish sentiment with a zero put/call ratio. Large open call positions at levels close to ATM ($650) suggest expectations of further increases. The lack of open put positions indicates little fear of declines. High call volume may suggest bullish expectations in the short term. The maximum pain level at $650 also supports the thesis of potential growth.

S&P 500 - Summary

The S&P 500 is in a short-term rebound, but still within a longer-term downtrend. Key support levels are 6570 and 6400 points, while resistances are at 6650 and 6750. Options data indicates a bullish sentiment, which may support a bullish scenario. However, the high fear index suggests caution, and a potential pullback to support levels is possible.

Oil - Daily Chart (D1)

Oil - Daily Chart (D1)

On the daily chart, WTI crude oil shows an upward trend since the beginning of the year. The price oscillates around 94.31 USD, after a sharp increase to around 125 USD. Currently, a correction is visible, but support at the level of 90 USD still holds. If the price breaks the level of 100 USD, it may indicate further increases. MACD and RSI are in the neutral zone, suggesting the possibility of consolidation before the next move.

Oil - 4H Chart

Oil - 4H Chart

On the 4-hour chart, there is a consolidation in the range of 90-98 USD after a previous increase. Currently, the price is moving within a narrow range, which may suggest a potential breakout. Technical indicators, such as RSI, are approaching the level of 50, indicating a lack of clear direction. A breakout above 98 USD may confirm the continuation of the upward trend.

Oil - 1H Chart

Oil - 1H Chart

The hourly chart shows price stabilization around 94.38 USD after a previous decline. Oscillating indicators suggest a state of equilibrium, and the price is near the moving average, indicating potential volatility. A breakout above 95 USD could signal a short-term increase.

Oil - 15min Chart

Oil - 15min Chart

On the 15-minute chart, there is moderate volatility, with short-term support at 94 USD. The current oscillations may suggest preparation for a move, especially as the price slowly approaches local resistances. A breakout above 94.50 USD could indicate a short-term bullish impulse.

Oil - Options data

Current options data on USO indicates a very bullish sentiment with a Put/Call ratio of 0.00, which means there is no interest in put options. The largest open call positions are at levels of 105 and 120 USD. The high call volume suggests an expectation of price increase. The key max pain level is at 105 USD, which may act as support.

Oil - Summary

WTI crude oil remains in an upward trend, although it is currently consolidating in the range of 90-98 USD. Key supports are at 90 USD, and resistances are at 100 USD. Options data and extreme fear in the market may suggest further increases after consolidation. The sentiment is bullish, which supports the possibility of a breakout above 98 USD. It is worth watching the reactions at the levels of 95 and 100 USD.

Euro/Dollar - Daily Chart (D1)

Euro/Dollar - Daily Chart (D1)

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Euro/Dollar - 4H Chart

Euro/Dollar - 4H Chart

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Euro/Dollar - 1H Chart

Euro/Dollar - 1H Chart

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Euro/Dollar - 15-minute chart

Euro/Dollar - 15-minute chart

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Euro/Dollar - Summary

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Pound/Dollar - Daily Chart (D1)

Pound/Dollar - Daily Chart (D1)

On the daily chart of GBP/USD, a downward trend is visible since January 2026, confirmed by lower highs and lows. Currently, the price oscillates around 1.3400, which is a key support level. Technical indicators suggest a continuation of downward pressure, with a potential test of the 1.3300 level. The long-term trend remains negative unless a reversal occurs above 1.3500.

Pound/Dollar - 4H Chart

Pound/Dollar - 4H Chart

On the 4-hour chart, a recent corrective move upwards is visible, which encountered resistance around 1.3450. The current price action indicates a possible return to the downtrend. Key support is located at 1.3350, and its breach could open the way for further declines. A break above 1.3450 could suggest a short-term rebound.

Pound/Dollar - 1H Chart

Pound/Dollar - 1H Chart

The hourly chart shows consolidation around the level of 1.3400 after a recent decline. Momentum indicators suggest weakening, which may lead to further declines. The nearest support is at 1.3370, and resistance is at 1.3420. A breakout in either direction could serve as a signal for a short-term change in direction.

Pound/Dollar - 15-minute chart

Pound/Dollar - 15-minute chart

On the 15-minute chart, consolidation is visible at the level of 1.3400. Recent attempts to break upwards have been limited, suggesting pressure from sellers. Key levels to watch are 1.3390 as support and 1.3410 as resistance. A breakout of either of these levels could trigger more dynamic movements.

Pound/Dollar - Options data

Options data indicates a strong bearish sentiment with a high put/call ratio of 99.47. The dominance of open put positions suggests expectations of further declines. The key max pain level is $130, which corresponds to an increase of 2.4% from the current price. High volume and open interest at the put levels of $130 and $127 indicate significant support that may attract buyers in the event of further declines.

Pound/Dollar - Summary

The bias remains bearish with key support at 1.3350 and resistance at 1.3450. Options data and extreme fear in the market support the downward pressure. A break below 1.3350 could deepen the declines, while a move above 1.3450 may indicate a short-term rebound. Currently, selling forces are dominant.

Australian Dollar/Dollar - Daily Chart (D1)

Australian Dollar/Dollar - Daily Chart (D1)

On the daily chart of AUD/USD, we observe consolidation near the level of 0.7100, suggesting a possible continuation of the sideways trend. The price remains above the key support level of 0.7000 but cannot break through the resistance around 0.7150. The current trading volume is moderate, indicating a lack of clear pressure from buyers or sellers. Market sentiment remains neutral, and technical indicators do not point to a clear direction.

Australian Dollar/Dollar - 4H Chart

Australian Dollar/Dollar - 4H Chart

On the 4-hour chart, consolidation is visible in a narrow range of 0.7050-0.7100. Yesterday's attempts to break higher levels ended in failure, which may suggest short-term resistance. The RSI and MACD indicators are neutral, confirming the lack of a clear trend. Support is at the level of 0.7050, and a breakout could open the way for further declines.

Australian Dollar/Dollar - 1H Chart

Australian Dollar/Dollar - 1H Chart

On the hourly chart of AUD/USD, fluctuations around the level of 0.7080 are visible, indicating a lack of clear direction. We observe slight price fluctuations with resistance at 0.7100 and support at 0.7070. The RSI indicator is close to the level of 50, suggesting a neutral sentiment in the short term. This may indicate the market's anticipation of new impulses.

Australian Dollar/Dollar - 15-minute Chart

Australian Dollar/Dollar - 15-minute Chart

The 15-minute chart shows a slight rebound from the level of 0.7075, however, the lack of stronger volume may suggest that this movement is not yet confirmed. The price oscillates in a narrow range, indicating a lack of decisiveness among investors. Key support is at the level of 0.7070, and resistance at 0.7090.

Australian Dollar/Dollar - Options Data

Options data for FXA shows a moderately bullish sentiment with a put/call ratio of 0.77. High open interest at the strike levels of $70 and $71 suggests expectations for increases, however, the max pain level at $66 indicates possible short-term pullbacks. The volume of calls is slightly higher than that of puts, which supports a mildly bullish sentiment. Investors can expect support around $68, which translates to a level of 0.7070 on AUD/USD.

Australian Dollar/Dollar - Summary

AUD/USD is in a consolidation phase with key support at 0.7070 and resistance at 0.7100. The market is neutral, awaiting new impulses. Options indicate a moderate bullish sentiment, but short-term pullbacks cannot be ruled out. It is worth monitoring reactions at key support and resistance levels to catch potential entry signals into the market.

Dollar/Yen - Daily Chart (D1)

Dollar/Yen - Daily Chart (D1)

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Dollar/Yen - 4H Chart

Dollar/Yen - 4H Chart

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Dollar/Yen - 1H Chart

Dollar/Yen - 1H Chart

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Dollar/Yen - 15min Chart

Dollar/Yen - 15min Chart

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Dollar/Yen - Summary

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Dollar/Franc - Daily Chart (D1)

Dollar/Franc - Daily Chart (D1)

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Dollar/Franc - 4H Chart

Dollar/Franc - 4H Chart

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Dollar/Franc - 1H Chart

Dollar/Franc - 1H Chart

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Dollar/Franc - 15min Chart

Dollar/Franc - 15min Chart

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Dollar/Franc - Summary

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Dollar/Canadian Dollar - Daily Chart (D1)

Dollar/Canadian Dollar - Daily Chart (D1)

On the daily chart of USD/CAD, we observe an upward trend, with the price oscillating around the level of 1.3738. This level coincides with previous highs from February, which may suggest resistance. If the price breaks through this level, a move towards 1.3850 is possible. On the other hand, support is located around 1.3600. Technical indicators may suggest a continuation of the upward trend, but the presence of strong resistances indicates caution.

Dollar/Canadian Dollar - 4H Chart

Dollar/Canadian Dollar - 4H Chart

On the 4-hour chart of USD/CAD, consolidation is visible around 1.3738. Fresh increases may indicate an attempt to break the resistance, but the volume is moderate, which may suggest a lack of sufficient strength for further increases. Support on this timeframe is at the level of 1.3660, which previously acted as a turning point.

Dollar/Canadian Dollar - 1H Chart

Dollar/Canadian Dollar - 1H Chart

The hourly chart shows that USD/CAD is in a narrow range between 1.3730 and 1.3750. We observe a slight advantage for buyers, but the lack of a decisive breakout suggests a possible continuation of consolidation. Short-term support is at 1.3700, which may be a key level for intraday traders.

Dollar/Canadian Dollar - 15-minute chart

Dollar/Canadian Dollar - 15-minute chart

On the 15-minute chart of USD/CAD, we see slight volatility with short-term support at 1.3725 and resistance at 1.3745. The lack of a clear direction indicates the possibility of further consolidation in the short term. It is worth monitoring the volume, which may signal a potential breakout.

Dollar/Canadian Dollar - Options Data

Options data indicates a prevailing bearish sentiment with a high put/call ratio of 2.65. The highest interest in puts at the $70 level suggests that investors are hedging against declines. The Max Pain at $72 may indicate a target level that the market could be heading towards in the coming days. It is worth monitoring whether the increased volume of puts will translate into spot movements.

Dollar/Canadian Dollar - Summary

USD/CAD is showing signs of an upward trend, but strong resistance at 1.3738 may limit further increases. Key supports are located at 1.3700 and 1.3600. The options sentiment is bearish, which may affect short-term prospects. Investors should pay attention to potential breakouts from the current consolidation and changes in trading volume.

Frequently Asked Questions

How to analyze trading instruments effectively?
Effective analysis combines technical analysis (charts, patterns, indicators) with fundamental analysis (economic data, news events). Understanding both short-term price action and long-term trends is essential.
How do Fed decisions impact markets?
Fed rate decisions affect all asset classes. Higher rates strengthen USD, pressure gold prices, and often weigh on stocks. The tone of Fed communication is often more important than the decision itself.

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