Day: February 27, 2024

Daily Market Outlook, February 27, 2024 Munnelly’s Market Minute… “US Budget Negotiations In The Spotlight” Asian Equity Markets: Most markets in the region are higher, with Japan experiencing a smaller-than-expected fall in annual inflation, potentially signaling a rise in interest rates. UK Economy: The UK’s BRC shop price index indicates a monthly fall in food […]

TitleApproaching Pullback Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 150.354 which is a pullback support that aligns with the 100.0% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 150.607 which is a pullback resistance level. Alternative scenario:If price […]

The British pound sterling, paired with the US dollar, continues its rise. The current GBPUSD exchange rate stands at 1.2682. According to fresh statistics, inflation in UK stores has dropped to a two-year low. Observations by the BRC indicate that the index rose by 2.5% in February, marking the lowest figure since March 2022. Simultaneously, […]

EURUSD, “Euro vs US Dollar” EURUSD has found a foothold above the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0835 is expected, followed by a rise to 1.0945. An additional signal confirming the rise might be a rebound […]

EURUSD, “Euro vs US Dollar” The EURUSD pair extends a correction wave to 1.0858. Today the market is forming a narrow consolidation range under this level. With an escape from the range upwards, further correction to 1.0872 is not excluded. With a downward escape, the decline wave could continue to 1.0790. GBPUSD, “Great Britain Pound […]

The primary currency pair maintains its upward momentum. The current EURUSD exchange rate stands at 1.0852. The market is still conserving its strength before the US releases its crucial statistics for the week. These reports will provide insight into the situation in which the US Federal Reserve might begin to decrease the interest rates. Investors […]

TitleEURUSD M15 I Bearish reversal TypeBearish Reversal Preference:Price is rising toward the pivot point of 1.0845, a pullback support that aligns with the 50% Fibo retracement. A reverse from this level could lead the price to fall to 1st support at 1.0788, an overlap support Alternative scenario:If price breaks above the pivot, it could rise […]

TitlePotential Bearish Breakout TypeBearish Breakout Preference:Price is falling towards the pivot point of 0.65498 which is a potential breakout level and could drop lower from here; we could see momentum carry price down to its 1st support at 0.65240 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level. Alternative scenario: […]

Bitcoin Rally Pauses Bitcoin prices saw very little movement over the European morning on Monday. The futures market remains stagnated for now ahead of resistance at the 53385 level. On the back of the bull move we saw over early February, the recent loss of upside momentum shouldn’t phase bulls too much with the outlook […]

TitlePotential Bullish Bounce TypeBullish Bounce Preference:Price is falling towards the pivot point of 81.084 which is a pullback support that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 82.353 which is a pullback resistance that aligns close to […]