Day: December 13, 2023
USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are below the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of the 5/8 (146.09) level is expected, followed by a decline to the support at 3/8 (142.18). The […]
The primary currency pair maintains equilibrium on Wednesday. The current EURUSD exchange rate stands at 1.0788. The US Federal Reserve’s two-day meeting will end today. Let us just wait for the facts, considering all predictions have already been made. Yesterday’s released US inflation statistics gave reasons for reflection. The consumer price index rose by 0.1% […]
TitleBCOUSD D1 | Falling to pullback support TypeBullish Bounce Preference:Price is falling towards the pivot point of 71.655 which is a pullback support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 77.899 which is a pullback resistance level. Alternative scenario:If price breaks below the pivot […]
TitleUSDJPY H4 | Breaking support level? TypeBearish Reversal Preference:Price is breaking through the support at 145.315, an overlap support, and is heading to our 1st support at 144.582, a pullback support Alternative scenario:Price could bounce off the 1st support at 144.582 and rise to our resistance level at 146.563 an overlap resistance. To discuss this […]
XAUUSD, “Gold vs US Dollar” Gold has formed a Hammer reversal pattern. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be 2020.00. Upon testing the resistance, the price might break it and continue developing the uptrend. However, the quotes could pull back to 1960.00 before growing. […]
The Japanese yen appears neutral against the US dollar on Wednesday. The current USDJPY exchange rate stands at 145.56. Morning releases show that the Tankan manufacturing business expectations index for Q4 in Japan has declined to 8 points from the previous 10 points, falling short of expectations. Conversely, the same index for the services sector […]
TitleGBPJPY H4 | Potential bearish reversal? TypeBearish Reversal Preference:Price is falling from our pivot point at 182.898, a pullback resistance, and is moving to our 1st support at 180.492, multi-swing low support. Alternative scenario: Price could break the pivot point at 182.898 and rise to our 1st resistance level at 184.031, a pullback resistance. To […]
Daily Market Outlook, December 13, 2023 Munnelly’s Market Minute… Asia – Asia-Pacific stocks traded mixed as investors were cautious ahead of the FOMC announcement. The Nikkei 225 increased modestly thanks to an encouraging Tankan survey, which showed improved sentiment among Japan’s large manufacturers and non-manufacturers. On the other hand, the KOSPI fell due to an […]
EURUSD, “Euro vs US Dollar” EURUSD has escaped a consolidation range upwards, finishing a growth wave at 1.0826. Next, the price completed a decline impulse to 1.0766. Today the market is forming a new consolidation range around 1.0788. With an escape upwards, the correction could continue to 1.0844. With an escape downwards, the potential for […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, revealing the prevalence of a downtrend. A test of the lower Cloud boundary at 1.0795 is expected, followed by a decline to 1.0655. The decrease might be additionally supported by a rebound from the upper boundary […]