March Ends on a Whimper

Fundamentals

This week is expected to be fairly quiet on the news front. Today we’d pay attention to any change in the EU M3 aggregate, which comes out at 8 AM GMT.
At 5:15 PM GMT, an FOMC voting member, Charles Evans, speaks. No bombshells are expected, but we’ll likely see increased short-term volatility in some currencies.

Stocks

Red Hat, Inc. reports its earnings today. The US software maker’s stock is traded on the NYSE.
We also advise noting earning reports from Russia's Rosneft and Tatneft.
Rosneft is down-trending short term, with the support at RUB 304 and the resistance at RUB 326.80. As likely as not, the bulls will counter-attack.
Overall, the Russian stock market rose last week, forming a V-shaped reversal bottom. The MICEX Index is forming an inverted head and shoulders pattern, which will be confirmed only if the neckline is broken through at 2,060. If this happens, the price may go up, i.e., the growth target might be 2,150.

Currency Market

On weekly charts, 87.80 (a 50% Fibo retracement) is the resistance for the AUD/JPY pair. In the mid-term, the 9-week EMA has been broken through. Meanwhile, the MACD line has crossed the signal line top down, and the price has broken through the middle Bollinger band. Both signals are bearish. The target may be at 82 yen per Australian dollar.
The NZD/CAD pair is forming something that strongly resembles a head and shoulders pattern on daily charts. This pattern will be confirmed if the neckline is broken through at 0.9200. The current support on the daily charts might be 0.9274, which is at a 50% Fibo correction.
As for the EUR/JPY pair, the flag pattern we had referred to previously was not confirmed. Currently, the pair is stuck at 119.50, which is acting as the support. Until there is more news, the best thing to do is stay away from the market.

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