Day: January 4, 2024
Middle East Worrying Oil Traders Oil prices remain bid today on the back of a more than 5% rally in crude futures yesterday. Developments in the Middle East are creating upward pressure this week as fears of a burgeoning, wider conflict in the region are acting to offset oversupply concerns. News of fresh supply disruptions […]
ETF Report Causes Flash-Crash Bitcoin prices are rallying firmly today with the market having now recovered more than 50% of yesterday’s 10% price plunge. The sharp downturn came in response to a report circulating online claiming that the SEC would likely turn down current spot-Bitcoin ETF applications. Produced by Matrixport, a crypto financial services platform, […]
TitleUSDJPY H4 | Bullish bounce TypeBullish Bounce Preference:USDJPY is bouncing off the pivot at 143.152, the overlap support, and could continue rising to 1st resistance at 144.753, the overlap resistance. Alternative scenario: The price could break the pivot at 143.152, and fall to the 1st support at 141.404, the pullback support. To discuss this trading […]
TitleEURJPY H4 | Potential bullish breakout TypeBullish Breakout Preference:EURJPY could continue rising and break the pivot at 156.786, the pullback resistance, and rise to the 1st resistance level at 158.155, the swing-high resistance. Alternative scenario:The price could pullback from a pivot at 156.786, and fall to the 1st support level at 155.253, the swing-low support. […]
TitleEURGBP H4 | Bullish bounce TypeBullish Bounce Preference:EURGBP has bounced off the pivot at 0.86128, the overlap support, which aligns with the 61.8% Fibonacci retracement level. The price could continue to rise to the 1st resistance level at 0.86492, the overlap resistance. Alternative scenario:The price could pullback and breakout of the pivot at 0.86128, and […]
TitleEURUSD H4 | Potential bearish reversal TypeBearish Breakout Preference:EURUSD could reverse to the pivot at 1.08771, the pullback support that aligns with the 61.8% Fibonacci retracement level, and fall to the 1st support level at 1.07412, the overlap support. Alternative scenario:The price could potentially rise to the 1st resistance level at 1.10057, the overlap resistance. […]
Daily Market Outlook, January 3, 2024 Munnelly’s Market Minute… Most Asian markets experienced declines as market sentiment echoed the downbeat performance of Wall Street, even though there was no clear reason for the negative trend. Meanwhile, Japanese markets were closed for a market holiday. Hang Seng and Shanghai Comp had mixed performance, with Hang Seng […]