Day: October 26, 2023
TitleXAUUSD H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is rising towards the pivot point of 1988.073 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1951.118 which is an overlap support that […]
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USDJPY, “US Dollar vs Japanese Yen” USDJPY are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 8/8 (150.00), from where they might proceed to +1/8 (150.78). The scenario can be cancelled by a […]
TitleEURUSD H4 | Reacting off a pullback resistance? TypeBearish Reversal Preference:The price is rising toward our pivot point of 1.06329, which serves as a pullback resistance level aligning with the 50% Fibonacci. A reversal from this point could lead to a price drop to the 1st support at 1.05276, an overlapping support level that aligns […]
CPI Spikes Again The Aussie Dollar has seen fresh demand across early European trading on Wednesday following the latest Aussie data overnight. CPI was seen ticking back up last quarter with the headline reading printing 1.2% from 0.8% prior, above the 1.1% the market was looking for. YoY, CPI bounced back to 5.6% from 5.2% […]
The Australian dollar continues growing against the US dollar. The current AUDUSD exchange rate is 0.6400. On Wednesday morning, Aussie skyrocketed to its two-week high after the publication of Australian inflation statistics that exceeded expectations. For example, the CPI in Q3 dropped to 5.4% from 6.0% previously. Yet the result did not live up to […]
The Japanese yen is again declining against the US dollar. The current USDJPY exchange rate stands at 149.86. Answering a question about the yen’s recent decline, Prime Minister of Japan Fumio Kishida said yesterday that it was desirable for currency rates to move stably. Kishida emphasised that it is up to the Bank of Japan […]
The US Dollar, often at the center of currency markets, exhibited resilience in the face of mounting bearish pressure. This defiance was fueled by the release of Composite PMI data from S&P Global, which exceeded expectations by rising to 51 points in October. This figure indicates a slight MoM expansion in both the manufacturing and […]
Daily Market Outlook, October 25, 2023 Munnelly’s Market Commentary… Asia – Asian stocks displayed mixed trading patterns, influenced by a positive lead from Wall Street. Market focus shifted to the earnings reports of major companies like Microsoft and Alphabet. Microsoft’s shares rose by 3.9%, while Alphabet experienced a 5.9% decline, with particular attention on their […]