Day: March 12, 2024
Daily Market Outlook, March 11, 2024 Munnelly’s Macro Minute… “Markets Cautious Ahead Of US Inflation Data” Across Asia, most equity indices experienced declines amid speculation that the Bank of Japan might soon raise interest rates. Economic expansion in Japan picked up speed in the last quarter, raising expectations that the Bank of Japan may raise […]
TitleEURUSD H1 | Bearish Drop TypeBearish Drop Preference:Price is currently at the pivot point of 1.0939, an overlap resistance. A drop from this level could lead the price to fall to 1st support at 1.0902, a pullback support level Alternative scenario:If the price breaks above the pivot, it could rise to 1st resistance at 1.0981, […]
The Japanese yen has strengthened against the US dollar, reaching its highest level of the month. The current USDJPY exchange rate stands at 146.98. The main driver behind the yen’s strength is the potential for the Bank of Japan to raise interest rates soon, given the positive trends in inflation and wages. Board Member Junko […]
USD Falls Following Jobs Data Bitcoin prices are back in the green on Monday with BTC futures breaking out to fresh all-time highs. The move comes amidst a weakening of the US Dollar on the back of a mixed set of US jobs data on Friday. While the headline NFP reading came in above […]
TitlePotential Bullish Breakout TypeBullish Breakout Preference:Price is rising towards the pivot point of 1.34940 which is a potential breakout level and could climb higher from here; we could see momentum carry price up to its 1st resistance at 1.35178 which is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level. Alternative scenario:If […]
