EURUSD, “Euro vs US Dollar” EURUSD has corrected to 1.0767. Today the market continues to decline to 1.0723. With a downward breakout of this level, the price is expected to drop to 1.0697 and then rise to 1.0723 (a test from below). A decline to 1.0680 could follow next. This is a local target. Once […]
TitleGBPUSD H4 | Reacting off 1st resistance? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 1.26525 , which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.24576, a multi-swing low support level. Alternative scenario:However, if the price breaks […]
Daily Market Outlook, September 12, 2023 Munnelly’s Market Commentary… Asian equity markets exhibited a mixed performance as the region adopted a cautious stance, lacking any fresh macroeconomic catalysts, and with market participants preparing for the release of U.S. Consumer Price Index (CPI) data scheduled for midweek. The Nikkei 225 index showed a gain of 0.6%. […]
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TitleUS30USD H4 | Bearish reaction off 50% fibo? TypeBearish Reversal Preference: Price is approaching our pivot point at 34695.5, which is a pullback resistance level, aligning with the 50% fibo retracement. If price closes below this pivot point, then we can expect price to fall to the 1st support at 34274.4, which is an overlap […]
Monday began with a weakening of the dollar, thanks to two powerful signals from central banks in Asia: China and Japan. The head of the Bank of Japan, Ueda, stated that conditions are gradually emerging to shift monetary policy from easing to tightening. In particular, wages are rising steadily, which is typically seen as a […]