Day: November 22, 2023
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a test of 3/8 (149.21) is expected, followed by a rebound from it and a decline to the support at 1/8 (147.65). The […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 1985.00. Upon testing the support, the price might rebound from it and continue developing the uptrend. However, the quotes might rise to 2015.00 without any correction. […]
TitleNZDUSD H4 | Bullish bounce off 50% fibo? TypeBullish Bounce Preference: Price could fall to our pivot point at 0.6013, which is a pullback support level, aligning with the 50% fibo retracement. If price bounce off the pivot point, price could rise towards the 1st resistance at 0.6066, which is a swing high resistance level. […]
Daily Market Outlook, November 22, 2023 Munnelly’s Market Commentary… Asia – Stocks in the Asia-Pacific region had a mixed performance due to negative sentiment from Wall Street, where weak data and pre-Thanksgiving positioning affected the market. The latest FOMC minutes had little impact on prices, and geopolitical developments, such as North Korea’s satellite launch and […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after setting a new local high. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2440 is expected, followed by a rise to 1.2645. An additional signal confirming the rise will be a rebound from […]
EURUSD, “Euro vs US Dollar” EURUSD is forming a movement to 1.0894 inside a decline wave today. Upon reaching this level, the pair could form a growth link to 1.0929. Practically, a wide consolidation range is emerging around this level. The market could try to extend the range to 1.0990. Next, the quotes might drop […]
TitleEURUSD H4 | Bullish bounce off 23.6% fibo? TypeBullish Bounce Preference: Price could fall to our pivot point at 1.0885, which is a pullback support level, aligning with the 23.6% fibo retracement and 100% fibo projection. If price bounces off the pivot point, then price could rise towards the 1st resistance at 1.0960, which is […]
Lagarde Warns Over Inflation Risks EURUSD is trading lower through the middle of the week having reversed sharply from yesterday’s highs around the 1.0960 mark. The reversal comes despite ECB’s Lagarde warning yesterday that the bank was not yet done with its fight against inflation, signalling that further tightening might still be needed. Lagarde’s comments […]
TitleUSDJPY H4 | Bearish continuation off 23.6% fibo? TypeBearish Reversal Preference: Price could rise up towards our pivot point at 148.15, which is a pullback resistance level, aligning with the 23.6% fibo retracement. We can expect price to reject this pivot point, and fall towards our 1st support at 147.33, which is a multi-swing low […]
The dollar index continues its search for lows this week; however, seller activity has diminished as the market overall remains relaxed, given that this week marks Thanksgiving in the United States: It is worth noting that the price has dropped below all three key moving averages (50, 100 and 200-day), increasing the likelihood of a […]