Day: January 18, 2024
EURUSD, “Euro vs US Dollar” EURUSD has completed a decline wave to 1.0845. Today the market is forming a correction to the 1.0910 level (a test from below). Once the correction is over, a new decline wave to the 1.0838 level might begin. Next, a consolidation range might form; with a downward escape from the […]
USDCHF, “US Dollar vs Swiss Franc” USDCHF quotes have broken the 200-day Moving Average and now rest above it, revealing the probability of an uptrend development. However, the RSI has reached the overbought area. As a result, a test of 6/8 (0.8667) is expected, followed by a rebound from this level and a decline to […]
The price of the currency pair EUR/USD rebounded from the level of 1.1100 and dropped. The asset might gain the required support in the zone formed between levels 1.0640 and 1.0670, rebound, and rise. So, let’s observe what might happen next. Brent oil broke the local downtrend. Now, the asset is forming a very narrow […]
Stocks Attempting to Recover Global stock markets are seeing better demand on Thursday with indexes such as the DAX trading back up off their weekly lows. Comments from ECB’S Lagarde yesterday added to bearish sentiment among stock traders, fuelling a push lower in the DAX which traded down to its lowest levels since early December. […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the resistance at 1.0960. However, the quotes might drop to 1.0850 and continue the uptrend after the correction. USDJPY, […]
The primary currency pair steadied on Thursday after a previous decline. The current EURUSD exchange rate stands at 1.0893. The flow of statistics published yesterday prompted the market to adjust its perspectives. In December, final inflation in the eurozone reached 2.9% y/y, marking a significant acceleration from the previous 2.4%. Although the data aligned with […]
TitleGBPJPY H4 | Bearish reversal TypeBearish Breakout Preference:The price could rise to the 1st resistance at 188.283 the multi-swing high resistance which is a double top pattern, before pulling back to the pivot point at 186.283, the overlap support. From there it could reverse to the 1st support at 184.043, the pullback support. Alternative scenario: […]
Daily Market Outlook, January 18, 2024 Munnelly’s Market Minute…“ECB Minutes Eyed, Lagarde Speaks Later” Asian markets had mixed trading, with most markets showing negative trends after central bank rate cut expectations were reversed. The Nikkei 225 fluctuated between gains and losses, influenced by recent currency weakness and disappointing machinery orders. Japan is set to release […]
The Australian dollar, paired with the US dollar, has temporarily ceased its descent. The current AUDUSD exchange rate stands at 0.6558. Australia presented a wealth of statistics on Thursday morning. The unemployment rate in December remained unchanged at 3.9%. However, the proportion of the economically active population has dropped significantly, from 67.3% to 66.8%. The […]
EURUSD, “Euro vs US Dollar” EURUSD is testing the broken resistance area. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0925 is expected, followed by a decline to 1.0745. The decline could be additionally supported by a rebound from the […]