Market Analysis

Dear Valued Client, Please note that in connection with Good Friday and Easter Holidays, the time of trading sessions of the following instruments will be affected as follows Asset class Instrument Thursday 28 Mar 2024 Friday 29 Mar 2024 Monday 1 Apr 2024 Forex FX Pairs Normal Hours Normal Hours Normal Hours Cryptos All Cryptos […]

The UK pound sterling, paired with the US dollar, returned to decline. The current GBPUSD exchange rate stands at 1.2616. The Bank of England may ultimately outpace the US Federal Reserve and the ECB in softening monetary policy. At the March meeting, the BoE left the interest rate unchanged at 5.25% per annum and maintained […]

USDJPY, “US Dollar vs Japanese Yen” USDJPY quotes are in the overbought area on D1. The RSI is approaching the overbought area. In this situation, the price is expected to rebound from the +1/8 (151.56) level and decline to the support at 7/8 (148.43). The scenario could be cancelled by rising above the +1/8 (151.56) […]

EURUSD, “Euro vs US Dollar” The EURUSD pair corrected to 1.0863 and performed a decline wave to 1.0820. A consolidation range is currently forming above this level. With an upward escape from the range, a correction link towards 1.0840 is not excluded. With a downward breakout, the potential for a decline to 1.0805 might open, […]

USDCAD, “US Dollar vs Canadian Dollar” USDCAD has formed a Hammer reversal pattern on H4. Currently, the instrument continues to go by the reversal signal in an ascending wave. The growth target could be 1.3635. Next, the price might break above the resistance and maintain its upward trajectory. However, the quotes could undergo a correction […]

The Japanese yen resumed weakening against the US dollar. The current USDJPY exchange rate stands at 151.75. The latest economic data from the US has cast doubt on whether the Federal Reserve will decide to lower interest rates soon, which pushed the JPY to a 30-year low. The current levels are the ones at which […]

EURUSD, “Euro vs US Dollar” EURUSD has secured below the signal lines of the indicator. The pair is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.0850 is expected, followed by a decline to 1.0730. An additional signal confirming the decline will be a rebound from […]

EURUSD, “Euro vs US Dollar” EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 1.0915 is expected, followed by a decline to 1.0780. An additional signal confirming the decline could […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The correction target might be the 2130.00 level. After the test of the support, the price might rebound from it and develop the uptrend further. However, the quotes could […]

Daily Market Outlook, March 18, 2024 Munnelly’s Macro Minute… “Markets On Central Bank Watch” Asian stock markets are experiencing a mix of trading on Monday, following the generally negative trends from Wall Street on Friday. Traders appear hesitant to make significant moves and are looking ahead to the U.S. central bank’s upcoming monetary policy meeting. […]

The price of the Ripple currency rebounded from the broken downtrend and pulled back to retest it. The local uptrend is at the point of potential pullback. In general, it looks like this currency is undergoing correction right now. Next, it might rebound, rise, and target the level of 0.9000. So, let’s wait and see […]

PPI Drives USD Higher The US Dollar has rebounded into the end of the week following some stronger-than-forecast data yesterday. On the back of hot consumer inflation earlier in the week, PPI yesterday came in above consensus at 0.3% vs 0.2% on core and 0.6% vs 0.3% on headline. Retail sales were a touch below […]