Day: September 18, 2023
EURUSD, “Euro vs US Dollar” EURUSD has completed a declining wave to 1.0631. By now, it has performed a link of growth to 1.0686. A decline to 1.0648 is expected today. Practically, a consolidation range is forming around this level. The range might then extend to 1.0700. Next, the price could drop to 1.0608 and […]
The Japanese yen is weakening again against the US dollar. The current USDJPY exchange rate stands at 147.74. The Bank of Japan will hold a regular meeting this week. Due to recent disappointing statistical data, the regulator is expected to keep all its main controls unchanged. It became known earlier that Japan’s GDP in Q2 […]
The price of the currency pair EUR/USD touched the first and very important support at the level of 1.0635 and dived below this level at the end of Friday. Let’s observe what might happen at the beginning of the next trading week. The currency pair may potentially break this level and test the lower and […]
TitleEURJPY H4 | Bullish reversal off 61.8% fibo? TypeBullish Bounce Preference:Price could fall to our pivot point at 157.07, which is a pullback support level, aligning with the 61.8% fibo retracement. If price bounces off the pivot point, then price could rise towards the 1st resistance at 157.91, which is an overlap resistance level, aligning […]
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GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has secured under the support level. The instrument is going under the Ichimoku Cloud, which implies a downtrend. A test of the Kijun-Sen line at 1.2425 is expected, followed by a decline to 1.2215. An additional signal confirming the decline could be a rebound from the upper […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 1.3585. Next, the price might break the resistance and continue the uptrend. However, the quotes could correct to 1.3475 before rising. […]
TitleUS30USD H4 | Bullish bounce off 61.8% Fibo? TypeBullish Bounce Preference: Price is approaching our pivot point at 34545.6, which is an overlap support level, aligning with the 61.8% fibo projection and slightly below the 61.8% fibo retracement. If price bounces off the pivot point, then price could head towards the 1st resistance level at […]
Daily Market Outlook, September 18, 2023 Munnelly’s Market Commentary… Asian equity markets opened lower, following the declines on Wall Street from the previous Friday. Market sentiment remained cautious, as the week started with reduced trading activity due to a holiday in Japan. The Hang Seng and Shanghai Composite both started with declines, particularly in Hong […]