Day: July 14, 2023
Brent Brent quotes and the RSI have reached their corresponding overbought areas on H4. As a result, a test of 7/8 (79.69) is expected, followed by a breakout of the level and a decline to the support at 6/8 (78.12). The scenario can be cancelled by a rise above the resistance at +1/8 (82.81). In […]
The BTC quotes rose to 31,440 USD on Friday. The flagship cryptocurrency increased by 3.8% overnight, and the weekly surplus is estimated at 4.4%. A trigger for the move came from the outside: after the court acknowledged that the XRP was not a security, the token skyrocketed, pulling other digital assets upwards. This is the […]
TitleUSDCHF H4 | Bearish continuation towards 1st support before bouncing off TypeBearish continuation Preference:Price is approaching our pivot point at 0.8526, which is at the 100% fibo projection level. We can expect a bearish continuation towards the 1st support, before reversing to the upside. Alternative scenario:The 1st support lies at 0.8437, which is at the […]
BTC Testing Key Level Following a move up to their highest level this year yesterday, Bitcoin prices are today sitting right up against a major resistance level. Bulls are looking for a breakout here with a move north of the 32185 needed to signal the start of a fresh bull run. The crypto backdrop has […]
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EURUSD, “Euro vs US Dollar” EURUSD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.1165 is expected, followed by a rise to 1.1365. An additional signal confirming the rise will be a rebound from the lower boundary of […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hanging Man reversal pattern near the resistance level. Currently, the instrument is going by the reversal signal in a corrective wave. The pullback target could be 1950.00. After a test of the support level, the price might rebound from it and continue the uptrend. However, the […]
Daily Market Outlook, July 14, 2023 Munnelly’s Market Commentary… Asian equity markets were mostly positive in overnight trading following a favourable performance on Wall Street. Yields continued to decline, supported by the softer consumer inflation and PPI data, strengthening the case for just one more rate hike by the Federal Reserve. The Nikkei 225 remained […]
Stocks Rally on CPI Drop The Nasdaq is trading at its highest level since early 2022 this week as the index continues to rally against the backdrop of a weaker US Dollar. The index is now up almost 5% off the July lows and looks set for further gains near-term as traders continue to scale […]