Day: November 8, 2023
BTC’s price rose to 35,352 USD on Wednesday. The market aims at reaching an important resistance level of 35,800 USD. The seasonal trigger continues to favour buyers. The problem is that it might end very soon. According to seasonal cycles, the correction can stretch from 10 until 21 November. It is believed that the smaller […]
The Australian dollar paired with the US dollar has temporarily ceased its decline. The current AUDUSD exchange rate stands at 0.6438. Yesterday, the Aussie experienced a loss of approximately 0.8% within a day, marking the most significant intraday decline in a month. This downturn was prompted by the market’s reaction to the Reserve Bank of […]
TitleSPX500USD H4 | Bullish bounce off pivot? TypeBullish Bounce Preference: Price could bounce off our pivot point at 4371.9, which is a pullback support level. If price bounces off our pivot point, then price could potentially continue its bullish run to the 1st resistance level at 4398.7, which is a swing high resistance level. Alternative […]
Daily Market Outlook, November 8, 2023 Munnelly’s Market Commentary… Asia – markets had a mixed performance following a similar trend from Wall Street, with the market activity being very limited in early APAC hours. Nikkei 225 initially gained from the strong earnings of Nintendo, which boosted the Electronics sector by over 6%, but the Oil […]
EURUSD, “Euro vs US Dollar” EURUSD has completed an impulse of decline to 1.0664, correcting to 1.0704 today. Extension of the correction to 1.0711 is not excluded. Next, the wave of decline might continue to 1.0640. And if this level also breaks downwards, the potential for a wave to 1.0566 might open. This is a […]
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support level. A test of 2/8 (0.6469) is expected in these circumstances, followed by a breakout of this level and a rise to the resistance level of […]
JPY Falling Further The Japanese Yen is weakening across early trading on Monday following the latest comments from BOJ governor Ueda today. Speaking a few hours ago, Ueda signalled that the prospect of negative rates being reversed this year was very low. While Ueda acknowledged that the bank had made progress in terms of bringing […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the Kijun-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.2205 is expected, followed by a rise to 1.2505. An additional signal confirming the rise will be a rebound […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Shooting Star reversal pattern near the resistance level on H4. Currently, the instrument is going by the reversal signal in a descending wave. The correction target could be the support level of 1.0650. However, the pair might rise to 1.0750 and continue the uptrend without testing […]
BTC Rally Pauses for Now Bitcoin bulls remain in limbo for now as the leading crypto asset continues to hang out just below recent highs. Excitement and speculation regarding anticipated BTC ETF approval has been keeping Bitcoin prices well supported over recent months, helped by a shift in the market’s Fed expectations. However, on the […]