Day: December 5, 2023
AUDUSD, “Australian Dollar vs US Dollar” AUDUSD quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is approaching the oversold area. In this situation, a test of 3/8 (0.6530) is expected, followed by a rebound from this level and a rise to the resistance at 5/8 […]
TitleAUDUSD H4 | Bullish bounce off pivot point? TypeBullish bounce Preference:The price is falling to the pivot point at 0.65699, an overlap support and could bounce off and rise towards the 1st resistance level at 0.66755, a multi-swing-high resistance. Alternative scenario:The price could break though our pivot point at 0.65699, an overlap support and fall […]
TitleNZDUSD H4 | Falling to 61.8% Fibo TypeBearish Drop Preference: The price is falling from our pivot point of 0.615, A reversal from this point could lead the price to drop to the 1st support at 0.6081, an overlap support level that aligns with the 61.6% Fibo retracement. Alternative scenario: However, if the price breaks […]
EURUSD, “Euro vs US Dollar” /strong> EURUSD has secured above the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will be […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2070.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 2005.00 before rising. […]
Title:GER40 H4 | Bearish reversal off pivot point? TypeBearish reversal Preference:The price is reacting off our pivot point at 16446.31, which is a swing high resistance. The price could fall to 1st support level at 15988.32, which is a pull back resistance. Alternative scenario:The price could break the pivot point at 16446.31, which is a […]
TitleEURUSD H4 | Falling to 161.8% Fibo extension? TypeBearish Drop Preference: The price is falling from our pivot point of 1.08342, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.0758, a pullback support level that aligns with the 161.8% Fibo […]
On Tuesday, the Japanese yen is consolidating against the US dollar. The current USDJPY exchange rate stands at 147.12. The USDJPY pair will likely move differently on Friday, possibly dipping below the 146.00 mark. These expectations are tied to the release of US employment data, which could give grounds for further downward pullback of the […]
The Australian dollar, paired with the US dollar, is weakening as part of a correction. The current AUDUSD exchange rate stands at 0.6585. During today’s meeting, the Reserve Bank of Australia decided to keep the interest rate unchanged at 4.35% per annum, in line with the market consensus forecast. In its comments, the RBA noted […]
Daily Market Outlook, December 5, 2023 Munnelly’s Market Commentary… Asia – Stocks saw declines as they followed a mostly negative trend from Wall Street. Major indices on Wall Street were choppy and weighed down due to a rebound in yields ahead of important data releases. In Japan, the Nikkei 225 continued to weaken and fell […]