Day: January 17, 2024

The enthusiasm for pricing in rate cuts by major central banks appears to have reached its peak. The greenback is surging on Tuesday, fueled by headlines of former US President Donald Trump dominating the first Republican Presidential Candidate runoff for Iowa, solidifying his position as the frontrunner in the Republican primary.  The risk-averse atmosphere is […]

TitlePotential Bullish Reversal TypeBullish bounce Preference:Price is falling towards the pivot point of 0.66138 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.66551 which is a pullback resistance level. Alternative scenario: If price breaks below the pivot point, it […]

Daily Market Outlook, January 16, 2024 Munnelly’s Market Minute…“UK Wage Dip May Provide Cover For BoE” Asian stocks faced pressure in the absence of guidance from Wall Street, coupled with rising yields. The Nikkei 225 slipped below the 36k handle due to slightly higher yields and stronger-than-expected PPI data. Hang Seng and Shanghai Comp followed […]

TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price is falling towards the pivot point of 77.303 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 79.662 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level. Alternative scenario:If […]