Day: January 12, 2024
The primary currency pair is poised for growth on Friday. The current quote in EURUSD is 1.0975. The much-anticipated inflation data has been released. The official Consumer Price Index rose to 3.4% y/y in December from 3.1% last month. In a month-to-month comparison, the figure exceeded expectations, rising by 0.3%. Everything would be fine, but […]
Daily Market Outlook, January 12, 2024 Munnelly’s Market Minute…“US PPI & Bank Earnings On Deck” Asian stocks exhibited mixed results, with major indices largely remaining range bound. The geopolitical landscape contributed to market sentiment, particularly following joint strikes by the US and UK on Houthi targets. Additionally, investors were digesting Chinese inflation and trade data, […]
TitleEURUSD M15 I Falling to support level TypeBearish Drop Preference:Price is currently at the pivot point of 1.0974, A reverse from this point could lead the price to fall to 1st support level at 1.0941 which is a multi swing low support level Alternative scenario:If price breaks above the pivot, it might rise to 1st […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes are below the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, the price is expected to break the 3/8 (0.8483) level downwards, followed by a decline to the support at 2/8 (0.8422). The scenario could […]
EURUSD, “Euro vs US Dollar” EURUSD has completed a growth wave to 1.0997 and a correction to 1.0930. Today the market is forming a new growth structure to 1.1010. Upon reaching this level, a decline wave to the 1.0944 level is expected, from where the trend might continue to 1.0877. This is a local target. […]
TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 0.8589 which is a pullback support level and could potentially break under from here; we could see momentum carry price down to its 1st support at 0.85623 which is a pullback support level. Alternative scenario:If price breaks above the pivot point, it […]
ETH Breaks Out Yesterday’s historic announcement that the SEC has approved 11 spot-Bitcoin ETFs for public trading has fuelled a wave of excitement across crypto markets. While Bitcoin is seeing a relatively muted response so far, ETH has been the standout winner. The market soared yesterday on the news trading back up to its highest […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the resistance level. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of upper boundary of the Cloud at 1.0995 is expected, followed by a decline to 1.0825. The decline could be additionally supported by a rebound from the upper boundary […]
USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hanging Man reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The decline target might be 1.3300. Next, the price could break the level and extend the downtrend. However, the quotes might correct to 1.3440 before the […]
Silver rebounded from the downtrend. The asset’s price is now heading south. Currently, the price of silver is forming a flag. Should the silver break this flag, it might eventually test the supporting zone formed between levels 22.00 and 22.30 and located next to the weekly uptrend. Silver is likely to rebound from the crossing […]