Day: November 14, 2023
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has found a foothold above the Kijun-Sen line. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the lower boundary of the Cloud at 1.2255 is expected, followed by a rise to 1.2425. A signal confirming the rise will be a […]
EURUSD, “Euro vs US Dollar” EURUSD continues developing a consolidation range around 1.0680. Extension of the range to 1.0705 is not excluded. Next, a decline to 1.0640 might follow. And with a breakout of this level, the pair might drop to 1.0622, from where the trend could continue to 1.0540. This is a local target. […]
TitleGBPUSD H1 | Reacting off resistance? TypeBearish Reversal Preference: Price is rising toward our pivot point of 1.22888 which serves as a swing-high resistance level A reversal from this point could lead the price to drop to the 1st support at 1.2223, an overlapping support level. Alternative scenario:However, if the price breaks above the pivot, […]
Bullish OPEC Report Crude prices have been making their way higher this week, on the back of heavy selling over recent weeks. The uptick comes amidst a pullback in the US Dollar and has also been helped by a more positive outlook for OPEC. In its latest global outlook, OPEC reported that with global supply […]
The Australian dollar paired with the US dollar is consolidating after a decline. The current AUDUSD exchange rate stands at 0.6370. In November, Australia’s Consumer Confidence index dropped by 2.6 points compared to the previous 2.9 points. This leading indicator reflects consumer spending levels, illustrating countrywide economic activity parameters. Australia’s Business Confidence Index in October […]
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 this level and go on developing the uptrend. However, the quotes could pull back to 1920.00 […]
Gold Under Pressure Gold prices are under pressure as we kick off the new week. The safe-haven was seen extending recent losses through the European open on Monday as hawkish Fed expectations once again take centre stage. Hawkish comments from several Fed members last week, including chairman Powell, have kept the prospect of further Fed […]
Daily Market Outlook, November 13, 2023 Munnelly’s Market Commentary… Asia – stock markets displayed a subdued performance as the region approached key risk events for the week. Investors exercised caution in anticipation of influential factors, including the release of US Consumer Price Index (CPI) data, Chinese activity data, the Biden-Xi meeting, and the looming US […]
The price of Bitcoin is heading up for now. However, it is likely to undergo correction soon. The asset might rebound from the level of 34330 but gain the required support at the level of 31000. This level has been repeatedly tested in the past as well. Brent oil has closely approached the supporting level […]