Day: December 11, 2023
The primary currency pair is attempting to consolidate on Monday. The current EURUSD exchange rate stands at 1.0765. Despite morning attempts to achieve a balance, EURUSD appears as vulnerable as before. The Federal Reserve’s meeting is scheduled for this week and will last two days as usual, ending on Wednesday evening. The Fed is expected […]
The Japanese yen is correcting against the US dollar on Monday. The current USDJPY exchange rate stands at 145.50. Last week was a triumph for the yen, but its victory over the USD was most likely linked to market repositioning. The JPY exchange rate climbed to highs not seen since 7 August. The catalyst for […]
TitleEURUSD H1 | Falling to support level? TypeBearish Drop Preference:Price is currently at our pivot point of 1.0764, which serves as an overlap resistance level that aligns with the 50% Fibo retracement. A reversal from this point could lead the price to drop to the 1st support at 1.07254, a swing low support level Alternative […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Doji reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3535. Next, the price might break the support and continue the downtrend. However, the quotes could correct to 1.3635 before a decline. […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, revealing a downtrend. A test of the Kijun-Sen line at 1.0795 is expected, followed by a decline to 1.0625. The decline could be additionally supported by a rebound from the upper boundary of the bearish channel. […]
TitleEURJPY H4 | Bearish reversal? TypeBearish Drop Preference:Price is currently at our pivot point of 156.53 which serves as a pullback resistance level. A reversal from this point could lead the price to drop to the 1st support at 153.93, a swing-low support level. Alternative scenario:However, if the price breaks above the pivot, it might […]
Title:GBPUSD H4 | Bearish continuation expected? TypeBearish Drop Preference:Price is currently at our pivot point of 1,2542, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.2454, an overlap support level. Alternative scenario:However, if the price breaks above the pivot, it […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave to 1.0723. By now, the market has corrected to 1.0780. A consolidation range is forming under this level today. An escape from this range downwards to 1.0704 is expected. And with a breakout of this level downwards as well, the potential for a wave […]
EURUSD, “Euro vs US Dollar” EURUSD quotes have reached the oversold area on H4. A convergence has formed on the RSI. In this situation, a rebound from 0/8 (1.0742) is expected, followed by a price rise to the resistance at 2/8 (1.0986). The scenario could be cancelled by a downward breakout of the support at […]
Daily Market Outlook, December 11, 2023 Munnelly’s Market Minute… Asia – Stocks in the Asia-Pacific region traded mixed as investors processed recent data releases, including strong US jobs data and worsening deflation in China. This week’s upcoming risk events, such as US CPI data and central bank updates, added to the cautious mood. The Nikkei […]