Day: January 5, 2024
TitleGBPJPY H4 | Bearish reversal TypeBearish Reversal Preference:GBPJPY could rise to the pivot at 184.047, the swing-high resistance, before pulling back and falling to the 1st support at 181.86, the pullback support level. Alternative scenario: The price could break the pivot at 184.047, and rise to the 1st resistance at 184.838, the multi-swing-high resistance. To […]
TitleNZDUSD H4 | Potential bullish bounce TypeBullish Bounce Preference:NZDUSD could bounce off the pivot at 0.62217, the multi-swing-low support, and it could rise to the 1st resistance at 0.6326, the overlap resistance level. Alternative scenario:The price could reverse to the pivot at 0.62217, and fall to the 1st support at 0.61823, the overlap support level. […]
Daily Market Outlook, January 5, 2024 Munnelly’s Market Minute… Stocks in the Asian region ended up trading mixed as the initial optimism slowly faded, even though there were no significant developments. This occurred as investors prepared for the release of the US Non-Farm Payrolls (NFP) report and ISM Services Purchasing Managers’ Index (PMI). The Nikkei […]
TitleEURUSD H4 | Bullish bounce? TypeBullish Bounce Preference:The price is falling toward the pivot point of 1.0882, which serves as a pullback support level that aligns with the 61.8% Fibo retracement, A bounce from this point could lead the price to rise to the 1st resistance at 1.1004, an overlap resistance that aligns with the […]
The EURUSD experienced a corrective phase and stabilized below 1.0950 early on Thursday, finding support above the 1.0900 level tested the day before. The pair’s technical trajectory indicates a potential recovery, but investors are exercising caution ahead of the NFP report on Friday. During the middle of the week, the US Dollar gained strength due […]
Wednesday saw the EUR/USD pair lose its recovery momentum, slipping below the crucial 1.0950 mark during European trading hours. This decline comes on the heels of a decisive correction in the US Dollar (USD), which touched its lowest level in nearly two weeks at 1.0938. The Technical Tapestry Taking a closer look at the technical […]
Daily Market Outlook, January 4, 2024 Munnelly’s Market Minute… Asian markets experienced widespread declines as the cautious approach persisted from Wall Street, even in the absence of a specific trigger. The Nikkei 225 resumed trading after a prolonged break and recovered some of the losses seen in the region yesterday, with the decline being somewhat […]
ADP Drives USD Higher Ahead of NFP The US Dollar is trading higher ahead of tomorrow’s keenly awaited NFP figures for last month. The first release of the New Year comes on the back of a stronger-than-forecast set of ADP figures on Thursday. The ADP release for December was seen coming in at 164k vs […]