EURUSD, “Euro vs US Dollar” EURUSD performed a wave of decline to 1.0855 and a correction to 1.0893. Today the market has started developing a new structure of decline to 1.0833. After the price reaches this level, a link of correction to 1.0944 is not excluded, followed by a decline to 1.0750. This is a […]
TitleEURJPY H4 | Potential Bullish Bounce? TypeBullish Bounce Preference: Price is approaching our pivot point at 157.99, which is a pullback support level. We can expect price to bounce off the pivot point and head to the 1st resistance level at 159.21. Alternative scenario: If price breaks below the pivot point, then price would potentially […]
Daily Market Outlook, August 18, 2023 Munnelly’s Market Commentary… Asian equity markets traded on the back foot, following the downward trajectory observed in both US and European markets the previous day. Asian stocks, as measured by an index, have now experienced a continuous decline for six consecutive sessions. This trend is shaping up to result […]
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TitleGBPJPY H4 | Potential Bearish reversal? TypeBearish Reversal Preference:Price has reacted off our pivot point at 186.3, which is aligned with a swing high resistance way back in December 2015. This could be a potential bearish reversal, and price could fall to our 1st support level at 185.25. Alternative scenario:If price breaks above the pivot, […]
USDJPY Rally Continues USDJPY broke out to new highs for the year yesterday as the rally in the pair off the July lows continues to gather pace. USD has seen strong demand over recent weeks against a backdrop of shifting Fed expectations. While the market had initially scaled back tightening expectations for the remainder of […]