Day: November 9, 2023
The main currency pair is poised for growth on Thursday. The current EURUSD exchange rate stands at 1.0710. There is almost no significant data from the US in this week’s macroeconomic calendar, but the eurozone continues to publish statistics. Retail sales in the region dropped by 0.3% m/m in September after falling 0.7% earlier. This […]
The British pound sterling fell against the US dollar for the third consecutive session. The current GBPUSD exchange rate stands at 1.2286. The pound intensified its decline when the Bank of England’s chief economist suggested interest rate cuts by mid-2024. The speaker was Huw Pill, and he said future rate cuts do not seem unreasonable […]
Daily Market Outlook, November 9, 2023 Munnelly’s Market Commentary… Asia – stocks were mostly on the rise today, taking cues from a positive trend on Wall Street. Across most major markets in the Asia-Pacific region, things were looking green, although Chinese markets didn’t quite keep up the momentum. The Nikkei 225 had a strong start, […]
TitleEURJPY H4 | Bullish bounce off 23.6% fibo? TypeBullish Bounce Preference: Price could fall to the pivot point at 161.02, which is a pullback support level, aligning with the 23.6% fibo retracement. If price bounce off the pivot point, then we can expect price to rise towards the 1st resistance at 161.93, which is at […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF has broken the 200-day Moving Average on H4 and is currently below it, revealing probable development of a downtrend. The RSI has rebounded from the resistance line. A downward breakout of 3/8 (0.8977) is expected, followed by a decline to the support at 2/8 (0.8911). The scenario could […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a declining impulse to 1.0658, correcting to 1.0714 today. An extension of the correction to 1.0725 is not excluded. Next, the declining wave could continue to 1.0630. With a downward breakout of this level, the potential for a wave to 1.0540 might open. This is a local […]
USDJPY Testing Highs USDJPY is pushing higher today ahead of keenly awaited comments from Fed chairman Powell. Giving the introductory speech yesterday at a Research and Statistics conference, traders were left empty handed with no mention of the economy or monetary policy. Today, however, the market is braced for more topical commentary from Powell with […]
TitleDE30EUR H4 | Bullish bounce off 61.8% fibo? TypeBullish Bounce Preference: Price could fall to the pivot point at 15159.4, which is a pullback support level, aligning with the 61.8% fibo retracement and at the neckline of the double bottom that formed yesterday. Price could potentially bounce off from our pivot point, to rise towards […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the resistance level. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.0675 is expected, followed by a rise to 1.0805. A signal confirming the rise will be a rebound from the lower […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be 2000.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 1920.00 before rising. […]