Day: August 18, 2023

XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern near the support level. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 1905.00. Upon testing the resistance, the price might rebound from it and continue the downtrend. However, the quotes could drop to […]

USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes have broken the 200-day Moving Average on H4 and now stand above it, revealing the probable development of an uptrend. The RSI has rebounded from the support line. In this situation, a test of 5/8 (0.8850) is expected, followed by a breakout and a price rise to […]

Daily Market Outlook, August 17, 2023 Munnelly’s Market Commentary…  Asian equity markets mostly experienced another day of selling, in line with losses on Wall Street. Yields in the market continued to rise following the release of FOMC Minutes, which highlighted that most officials saw significant upside risks to inflation, possibly necessitating further tightening measures. The […]

TitleXAUUSD Day | Bounce off support level? TypeBullish Bounce Preference:Price has just bounced off our pivot point of 1888.375 which is a pullback support level that. A bounce off from here, price could rise to 1st resistance at 1905.552 which is a pullback resistance level that aligns with 23.6% Fibo Retracement. Alternative scenario:However, if price […]