Day: October 2, 2023
The BTC exchange rate on Monday climbed to 28,088 USD. The market has achieved all resistance levels outlined earlier. It is now essential to consolidate above 28,250 USD. A notable resistance level is at 28,500 USD, with a more ambitious upward target set at 30,000 USD. BTC saw an increase of 3.94% in September despite […]
The Japanese yen, paired with the US dollar, continues its decline. The current USDJPY exchange rate is 149.79. The primary reason for the weakening of the JPY exchange rate is the global difference in interest rates between the US Federal Reserve and the Bank of Japan. At the same time, the Japanese economy appears to […]
TitleUSDJPY H4 | Falling to support level? TypeBearish Reversal Preference:Price has just reacted off our pivot point of 149.729, which serves as a swing-high resistance level. A reversal from this point could lead the price to drop to the 1st support at 148.864, an overlap support level Alternative scenario:However, if the price breaks above the […]
TitleDE30EUR H4 | Bearish reversal off 61.8% fibo? TypeBearish Reversal Preference: Price could continue rising towards the pivot point at 15574.3, which is an overlap resistance level, aligning with the 61.8% fibo retracement and 61.8% fibo projection. We can expect price to react bearishly, to fall to the 1st support at 15401.7, which is a […]
EURUSD, “Euro vs US Dollar” EURUSD has reached the estimated target of a declining wave at 1.0550. The structure of the last link implies the development of a new declining movement to 1.0460. After the price reaches this level, a consolidation range might form above it. An escape from the range upwards is expected, followed […]
EURUSD, “Euro vs US Dollar” EURUSD are under the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the support line. In this situation, a downward breakout of 2/8 (1.0498) is expected, followed by a decline to the support at 1/8 (1.0376). The scenario can be cancelled by the […]
JPY Sell-Off Continues USDJPY is trading at 11-month highs following early buying in the European session on Monday. The market is now fast approaching a test of the 2022 highs around 151.81. Despite speculation earlier in the year around potential BOJ intervention, the central bank has yet to take any actions to help strengthen JPY. […]
Daily Market Outlook, October 2, 2023 Munnelly’s Market Commentary… Asian equity markets saw mixed trading as the region was significantly affected by holiday closures. The Nikkei 225 initially showed gains, but it later pulled back, slipping below the 32,000 level. The Hang Seng and Shanghai Composite were closed for the National Day Golden Week celebrations, […]
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