Day: February 13, 2024
TitleEURUSD H4 | Bearish Breakout TypeBearish Drop Preference:Price is falling toward the pivot point of 1.0761 which is a multi-swing low support level. A breakout from this level price could continue to fall to 1st support at 1.0727, a swing low support level Alternative scenario:If price bounces the pivot, it could ride to 1st resistance […]
Daily Market Outlook, February 13, 2024 Munnelly’s Market Minute…“Nikkei Multi Decade Highs, US CPI Next” Equities in the Asia-Pacific region saw a notable uptick, particularly in Japan’s Nikkei 225, which surged nearly 3% fueled by gains in the tech sector. However, European and US equity futures display a more mixed sentiment ahead of the crucial […]
EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0770 is expected, followed by a decline to 1.0665. An additional signal confirming the decline could […]
EURUSD, “Euro vs US Dollar” EURUSD has formed a Harami reversal pattern near the support level on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The correction target might be the resistance at 1.0830. However, the price could drop to 1.0720 and extend the downtrend without testing the resistance. […]
TitleDAX H4 | Reverse to support level TypeBearish Reversal Preference:The price could rise to pivot at 17066.26, the swing-high resistance, from there it could reverse to the 1st support at 16874.83, the pullback support. Alternative scenario:It might break out of pivot and rise to the 1st resistance at 17133.66, which aligns with the 127.2% Fibonacci […]
US CPI Up Next All eyes will be on the latest US inflation due to be released shortly today. Expectations are primed for a fall in annualised headline inflation to 2.9% from 3.4%. In light of the current focus on whether the Fed is likely to ease rates in the coming months, today’s data will […]
The Australian dollar, paired with the US dollar, continues to hover. The current AUDUSD exchange rate stands at 0.6520. According to today’s data, business conditions in Australia have improved, with consumer confidence reaching a 20-month high. January’s NAB business environment index came in at 6 points, below the long-term average. Business confidence improved, reaching 1 […]
The Japanese yen is weakening against the US dollar again. The current USDJPY exchange rate stands at 149.48. Upcoming statistics may confirm that the Japanese economy is regaining its position as the world’s fourth largest. The main reasons for this are the weak yen and the ageing population. Japan’s GDP in Q4 could have grown […]
US Data Due Traders are braced for plenty of volatility this week with a slew of key economic data due. The schedule kicks off tomorrow with the keenly awaited US CPI reading for January. On the back of the recent uptick in inflation traders will be keen to see whether the lift in December extended […]
The price of Bitcoin has closely approached the key resistance level of 49000. The asset’s price might either rebound from the resistance or break it through. Hence, it would be interesting to follow the candlestick formations next to this level to forecast the upcoming price movements. The false breakouts are also possible so let’s keep […]