Day: June 13, 2023
The British pound sterling has returned to growth against the US dollar. The current GBPUSD quote is 1.2560. The British statistical data published the day before came out mixed and highly interesting. The unemployment rate dropped to 3.8% in the three months ending in April against the 4.0% forecast. The growth rate of average earnings […]
Daily Market Outlook, June 13, 2023 Munnelly’s Market Commentary… Asian equity markets traded mostly higher, taking cues from the gains on Wall Street. The S&P 500 and Nasdaq 100 reached their highest levels in a year, supported by the strong performance of big tech companies. Yields softened ahead of upcoming risk events, contributing to the […]
TitleGBPUSD H1 | Potential bearish reversal TypeBearish Reversal Preference: Price is currently at our pivot point of 1.25653 which lines up with a 78.6% Fibo retracement. A reverse from here. price could fall to 1st support at 1.25007 which is a pullback support level Alternative scenario:However, if price breaks above the pivot, it could rally […]
The major currency pair strengthened on Tuesday. The current EURUSD quote is 1.0800. The focus is on the Central Bank meetings, as the announcement of their decisions can significantly impact currency volatility. The US Federal Reserve begins its two-day meeting today and is expected to announce the level of the interest rate on Wednesday. It […]
EURUSD, “Euro vs US Dollar” On H4, EURUSD quotes rose above 0/8 (1.0742) and escaped the oversold area. The RSI has rebounded from the support line. In these circumstances, an upward breakout of 1/8 (1.0803) is expected, followed by a rise to the resistance level of 2/8 (1.0864). The scenario can be cancelled by a […]
Unemployment Drops GBP is rallying today on the back of the latest set of UK labour market figures. The unemployment rate was seen falling to 3.8% from 3.9%, in contrast to expectations for a 4% reading. Similarly, the claimant count change was seen falling to -13.6k, down from 23.4k prior and in contrast to the […]
TitleUSDCAD H4 | Bounce off support TypeBullish Bounce Preference: Price is falling to our pivot point of 1.33161 which is a multi-swing low support. A reverse from here. price could rally to 1st resistance at 1.34054 which is an overlap resistance level. Alternative scenario: However, if price breaks below the pivot, it could fall to […]
EURUSD, “Euro vs US Dollar” The currency pair continues developing a consolidation range around 1.0760. Today it might extend upwards to 1.0795; next, a decline to 1.0740 could follow, from where the wave might continue to 1.0699. This is a local target. GBPUSD, “Great Britain Pound vs US Dollar” The currency pair has demonstrated an […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2475 is expected, followed by a rise to 1.2685. An additional signal confirming the rise will be a rebound […]
FOMC In View The US Dollar is having a quieter start to the week as traders prepare for the June FOMC meeting on Wednesday. Market expectations are generally built around the Fed pausing rates at this meeting with CME pricing for a pause sitting around 75%. However, the wider focus is likely to be on […]