Day: June 26, 2023
Bitcoin has tested the resistance at the level of 31000 without breaking it. The asset’s price is likely to rebound and drop. However, it would be wise to observe the candlestick formations because the asset might still break this level through and jump. So, let’s see what might happen next. Gold is heading down, it […]
Hunt to Meet UK Industry Leaders The Chancellor of the Exchequer Jeremy Hunt is due to meet with industry leaders in the UK this week in a bid to establish how government and industry can work together to tackle inflation. The meetings come on the back of PM Rishi Sunak warning that the government will […]
EURUSD, “Euro vs US Dollar” On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 3/8 (1.0925) and thus reach the resistance level of 4/8 (1.0986). The scenario can be cancelled […]
The BTC exchange rate is about 30,250 USD on Monday. Over the past 24 hours, the flagship cryptocurrency has been moderately declining. However, it has gained about 14.5% within a week. The last week was victorious for BTC as the leading cryptocurrency saw the most significant weekly result since March of this year. The weekly […]
TitleXAUUSD H4 | Bullish reversal from swing-low TypeBullish Bounce Preference:Price is falling towards the pivot point of 1913.196 and could potentially reverse from here; we could see momentum carry price up to its 1st resistance of 1931.731. Alternative scenario:If price breaks below the pivot point, it could hit the 1st support of 1899.962. To discuss […]
Tesla Pullback Continues Shares in Tesla are trading over 1% lower ahead of the open on Monday. The stock has now slipped around 9% from the YTD highs printed earlier in the month. A pullback in broader risk appetite is certainly one of the factors weighing on Tesla here. Hawkish central bank expectations and rising […]
EURUSD, “Euro vs US Dollar” EURUSD is forming a bullish Wedge pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0840 is expected, followed by a rise to 1.1025. An additional signal confirming the rise will be a rebound from the […]
EURUSD, “Euro vs US Dollar” The currency pair has completed the first declining impulse to 1.0844. Today the market is forming a corrective structure to 1.0930. After the correction is over, a new impulse of decline to 1.0840 might start. And if this level also breaks, the potential for a decline to 1.0750 could open. […]
TitleDXY H4 | Potential bearish breakout TypeBearish Breakout Preference:Price is approaching the pivot point of 102.2546 and could potentially break below this level; we could see momentum carry price down to its 1st support of 101.8953. Alternative scenario:If price reverses the pivot point, it could hit the 1st resistance of 102.5885. To discuss this trading […]
Daily Market Outlook, June 26, 2023 Munnelly’s Market Commentary… Asian equity markets showed limited movement following losses on Wall Street Friday, as weak global PMI data and a lack of fresh catalysts kept markets subdued. The weekend news cycle was dominated by the brief uprising of the Wagner Group in Russia. The Nikkei 225 in […]