Day: March 1, 2024
Daily Market Outlook, March 1, 2024 Munnelly’s Market Minute… “The Nikkei Opens The New Month With A Surge To Record Highs” The new month starts with Japan’s Nikkei Average hitting a new high above the 40K handle, following the S&P 500 and Nasdaq closing at record highs on Thursday, driven by tech stocks related to […]
TitleGBPJPY H4 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 189.87, an overlap resistance. A reverse from this level could lead the price to fall to 1st support at 188.93, an overlap support level. Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 190.80, […]
EURUSD, “Euro vs US Dollar” The EURUSD pair broke below the consolidation range and completed the movement, reaching 1.0796. Today a corrective movement to 1.0821 is expected (testing from below). After the correction is over, the price could maintain its downward trajectory to 1.0788, from where the trend could continue to 1.0735. This is a […]
GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is rebounding from the lower boundary of the Cloud. The instrument is going inside the Ichimoku Cloud, which suggests sideways dynamics. A test of the Tenkan-Sen line at 1.2645 is expected, followed by a decline to 1.2515. A signal confirming the decline will be a rebound from the […]
During Thursday’s European trading session, the Pound Sterling displayed a cautious performance against the US Dollar, showing modest declines as market attention remained fixed on the eagerly awaited release of the United States core Personal Consumption Expenditure Price Index (PCE) for January. Investors are eagerly awaiting this crucial data, as it plays a significant role […]
TitleUSDJPY H4 | Bearish Breakout TypeBearish Drop Preference:Price is currently at the pivot point of 149.84, a multi-swing low support level. A breakout from this level could lead the price to fall to 1st support at 148.77, a pullback support level Alternative scenario:If the price bounces the pivot, it could rise to 1st resistance at […]
EURUSD, “Euro vs US Dollar” The EURUSD pair corrected to 1.0886, and today the first structure of the fifth decline wave to 1.0570 is already developing. The target of the first structure is 1.0730. Once this level is reached, the quotes could correct to 1.0807 (testing from below). Next, a decline to 1.0650 might follow. […]
The British pound sterling, paired with the US dollar, stopped falling. The current GBPUSD exchange rate stands at 1.2626. Over the month, GBP experienced a slight decrease against the US dollar, just by 0.26%. Following the January rise, this news is considered neutral. There were almost no domestic UK statistics this week; hence, GBP investors […]
TitleResistance Overhead TypeBearish Reversal Preference:Price could rise towards the pivot point of 0.65243 which is an overlap resistance level and potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64876 which is a pullback support level. Alternative scenario: If price breaks above the pivot point, it could hit […]
In the aftermath of the second US Gross Domestic Product (GDP) reading, the US Dollar (USD) finds itself off its intraday high, grappling with the nuanced implications of the unveiled data. While the headline GDP figure exhibited resilience, coming in just 0.1% softer than anticipated, concerns have been ignited by the performance of the Personal […]